There are several issues here. One is whether the patent is valid as the Patent Office has found--it isn't, if the invention is obvious, as seems likely to this reader. Another is, assuming that the patent is valid and that patents have any real value in promoting innovation, whether the inventor hasn't been cheated. But now, in addition to lawyering up, the troll has had to lobby up. Guess who pays.
Against Monopoly
defending the right to innovate
Monopoly corrupts. Absolute monopoly corrupts absolutely.
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Congress moves to exempt banks from patent suits
Congress doesn't usually intervene in individual patent cases, but here it has taken the first steps to do so link here. Thereby, big banks would get immunity against a patent lawsuit potentially worth billions in costs to them. The object of their attentions is a Texas patent troll, Data Treasury, which is demanding damages "for infringing on its method of digitally scanning, sending, and archiving checks."
[Posted at 02/14/2008 07:23 AM by John Bennett on IP in the News 
comments(2)]
Comments
The proposal is another non-solution that simply protects a special interest group and neglects the public as a whole. The "real" solution is to change the patent law so that this extortion would not be possible. So much for politicians making the "hard decisions".
[Comment at 02/15/2008 08:26 AM by Steve R.]
repeal the patent troll madness now you moronic united stated political idiots. now you morons. repeal it bonkers idiots.
[Comment at 02/15/2008 06:50 PM by manomanzoom]
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IP is not a joke Bill:
Absolutely. Parody and satire are protected under fair use. Mad Magazine (among many
at 02/09/2010 05:41 AM by Anonymous
IP is not a joke Couldn't it be used under the fair use
at 02/08/2010 03:22 PM by Bill Stepp
Goldman does in AIG, you, and me Predatory Lending is a major contributor to the economic turmoil we are currently
at 02/08/2010 03:07 PM by jmb27
Common Sense Seth - I'm not sure how your comment @ 5:57pm casts any illumination on your earlier position. If I
at 02/08/2010 02:03 PM by Justin Levine
Lessig: Congress is broken and Obama has failed Anon, state granted monopolies are effectively licenses for corporations to collect taxes on
at 02/08/2010 01:50 PM by Crosbie Fitch
Lessig: Congress is broken and Obama has failed It does seem strange to me that when we are faced with the possibility of a 23 trillion dollar
at 02/08/2010 01:18 PM by Anonymous
The Patent, Copyright, Trademark, and Trade Secret Horror Files Fred, I recognise that 'natural monopoly' may have a more specialised meaning for economists, and
at 02/08/2010 07:19 AM by Crosbie Fitch
Lessig: Congress is broken and Obama has failed Fred, I'm doing something immediately. I'm working on the Contingency Market. this is something
at 02/08/2010 06:53 AM by Crosbie Fitch
The Patent, Copyright, Trademark, and Trade Secret Horror Files @Crosbie: I agree *natural monopolies* do exist, despite any tendency for SK and Bill Stepp to shut
at 02/07/2010 10:21 PM by Fred McTaker
Lessig: Congress is broken and Obama has failed I thank John Bennett for this post, and for the quality of his posts here in general. I've been
at 02/07/2010 09:02 PM by Fred McTaker