Beta
×

Welcome to the Slashdot Beta site -- learn more here. Use the link in the footer or click here to return to the Classic version of Slashdot.

Thank you!

Before you choose to head back to the Classic look of the site, we'd appreciate it if you share your thoughts on the Beta; your feedback is what drives our ongoing development.

Beta is different and we value you taking the time to try it out. Please take a look at the changes we've made in Beta and  learn more about it. Thanks for reading, and for making the site better!

Banks Turn to NY Sen. Schumer for Patent Suit Help

Anonymous Coward writes | more than 3 years ago

0

An anonymous reader writes "From the NY Times article:

"Big banks have paid hundreds of millions of dollars to a tiny Texas company [owned by Claudio Ballard] to use a patented system for processing digital copies of checks. After years of fighting, the banks went to Senator Schumer who inserted into a patent overhaul bill a provision that appears largely aimed at helping banks rid themselves of the Ballard problem. The Senate passed the bill easily in March. Mr. Schumer said he believed he did the right thing. “This is a case where one company has made a cottage industry out of extracting legal settlements by exploiting a fuzzy part of the law on patents,” he said.

Readers should note that Ballard DID invent the system himself and file the patent. This is NOT a patent troll in the normal sense.."

Link to Original Source

cancel ×

0 comments

Sorry! There are no comments related to the filter you selected.

Check for New Comments
Slashdot Login

Need an Account?

Forgot your password?