logo

Against Monopoly

defending the right to innovate

Monopoly corrupts. Absolute monopoly corrupts absolutely.





Copyright Notice: We don't think much of copyright, so you can do what you want with the content on this blog. Of course we are hungry for publicity, so we would be pleased if you avoided plagiarism and gave us credit for what we have written. We encourage you not to impose copyright restrictions on your "derivative" works, but we won't try to stop you. For the legally or statist minded, you can consider yourself subject to a Creative Commons Attribution License.


back

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."

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.


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".
repeal the patent troll madness now you moronic united stated political idiots. now you morons. repeal it bonkers idiots.

Submit Comment

Blog Post

Name:

Email (optional):

Your Humanity:

Prove you are human by retyping the anti-spam code.
For example if the code is unodosthreefour,
type 1234 in the textbox below.

Anti-spam Code
ThreeZeroNineTwo:


Post



   

Most Recent Comments

Yet another proof of the inutility of copyright. The 9/11 Commission report cost $15,000,000 to produce, not counting the salaries of the authors.

WKRP In Cincinnati - Requiem For A Masterpiece P.S. The link to Amazon's WKRP product page:

WKRP In Cincinnati - Requiem For A Masterpiece Hopefully some very good news. Shout! Factory is releasing the entire series of WKRP in Cincinnati,

What's copywritable? Go fish in court. @ Anonymous: You misunderstood my intent. I was actually trying to point out a huge but basic

Rights Violations Aren't the Only Bads I hear that nonsense from pro-IP people all the

Intellectual Property Fosters Corporate Concentration Yeah, I see the discouragement of working on a patented device all the time. Great examples

Music without copyright Hundreds of businessmen are looking for premium quality article distribution services that can be

Les patent trolls ne sont pas toujours des officines

Les patent trolls ne sont pas toujours des officines

Patent Lawyers Who Don't Toe the Line Should Be Punished! Moreover "the single most destructive force to innovation is patents". We'd like to unite with you

Bonfire of the Missalettes!

Does the decline in total factor productivity explain the drop in innovation? So, if our patent system was "broken," TFP of durable goods should have dropped. Conversely, since

Does the decline in total factor productivity explain the drop in innovation? I wondered about TFP, because I had heard that TFP was increasing. Apparently, it depends on who

Music without copyright I do agree with all the ideas you have presented in your post. They are very convincing and will

Music without copyright It's strange, that sometimes the most simple suggestions are often the most useful! I will take the

Patents on 3D Printing Challenged by Prior Art To Loup Vaillant: "So, you think we wouldn't have had those 9 technologies without patents? I can

Patents on 3D Printing Challenged by Prior Art @anonymous: So, you think we wouldn't have had those 9 technologies without patents? I can accept

Patents on 3D Printing Challenged by Prior Art The fact is that in the last 20-25 years the technologies of rapid prototyping (today known as

Public Knowledge announces a Patent Reform Project No patents should be allowed on ANY software. And no patents on Business Methods. If the have to

Patents on 3D Printing Challenged by Prior Art The fact is that in the last 20-25 years the technologies of rapid prototyping (today known as