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Posts Tagged: "NASDAQ"

PTAB Invalidates Nasdaq Patent Claims on Automated Securities Trading in Series of CBMs

On October 9, the Patent Trial and Appeal Board issued a final written decision in a covered business method (CBM) review which invalidated all 38 claims of Nasdaq’s U.S. Patent No. 7747506, Recipient Status Indicator System and Method, challenged by Miami International Holdings (MIAX), on Section 101 grounds for being directed to unpatentable subject matter. The decision is the latest in a series of CBM reviews at the PTAB which stem from a district court patent infringement proceeding targeting fintech technologies employed by MIAX’s technological securities trading platform.

Nasdaq ISE Files Motion to Disqualify Fish & Richardson at PTAB Over Prior Representation

Nasdaq ISE’s motion to disqualify Fish & Richardson was made pursuant to 37 CFR 11.109, which prevents a practitioner from representing a party adverse to a former client in substantially similar proceedings; this duty is imputed to the practitioner’s law firm under 37 CFR 11.110. In its motion, Nasdaq argued that the PTAB should adopt the magistrate judge’s finding that the defense of MIAX, including the CBM reviews challenging the validity of the patents asserted against MIAX, is a collaborative effort and Fish & Richardson should be disqualified because of the conflict of interest. The particular patent-at-issue in this CBM review was filed and prosecuted during the period in which Fish represented Nasdaq. “Because patent-eligibility, this sole issue in this CBMR, is evaluated from the time of invention… the confidential factual information Fish obtained from Nasdaq is material to the issues in this [CBM review],” the motion reads.

PTAB Institutes CBM Review of Nasdaq Patents Challenged by MIAX

In early October, the Patent Trial and Appeal Board (PTAB) instituted a series of covered business method (CBM) reviews on patents owned by American stock exchange Nasdaq. The CBM reviews were petitioned by trading platform provider Miami International Holdings (MIAX) and challenge the validity of patents which Nasdaq has asserted against MIAX in U.S. district court.

Joint Economic Committee Holds Hearing on Innovation Economy, Barriers to Accessing Capital

One panel witness, Rachel King, CEO of the Rockville, MD-based biotech firm GlycoMimetics, said that she was greatly concerned by the effects of the IPR process and how it weakens the company’s ability to enforce its own patents. “There are very few areas of the nation’s economy that are as dependent on patents as the biotechnology industry,” King said. “Our investors rely on the strength of patents in order to make investments in companies like ours and we need to make sure that these rights are robust and enforceable.” King was very supportive of the STRONGER Patents Act as a piece of legislation that properly addresses the current deficiencies with the IPR process.

Nasdaq files patent infringement lawsuit against trading platform provider IEX Group

The American stock exchange Nasdaq filed a complaint for patent infringement against electronic-based trading platform provider IEX Group in the District of New Jersey. Nasdaq is seeking enhanced damages for willful infringement of a series of patents covering auction and order processing as well as other technologies which Nasdaq alleges would have been known to the founders of IEX, who were former Nasdaq employees.

Turning Your Patent into a Business: A Practical Guide to Equity Crowdfunding

Once your patent has been awarded you may still need additional capital to turn that patent into a business. Fortunately it is not as difficult to find investors as you may think. Equity crowdfunding is on the path to surpass venture capital as the preferred way for start-ups and small businesses to raise capital. In a nutshell, equity crowdfunding is the sale of equity (or debt) in your business directly to investors using an online platform instead of a stock brokerage firm.  It is also less expensive than hiring one. Although direct to investor funding over the internet has been around since the late 1990s, it came of age with the JOBS Act in 2012.