Intellectual Ventures founder Nathan Myhrvold reads Slashdot.
Intellectual Ventures (IV) is the world’s biggest patent-licensing company and boasts of having collected tens of thousands of patents since it was founded in 2000. It’s raised about $6 billion from investors over the years, and to recoup that money, it started filing lawsuits over patents a few years ago. In 2013, it launched a new salvo, filing 13 lawsuits against major US banks, including Bank of America, JP Morgan Chase, and Capital One.
The Capital One case ended last Wednesday, when a Virginia federal judge threw out the two IV patents that remained in the case. It’s the first IV patent case seen through to a judgment, and it ended in a total loss for the patent-holding giant: both patents were invalidated, one on multiple grounds. (An IV case against Motorola went to a jury, but it ended in a mistrial, and no new trial has been scheduled.)
The case was just weeks away from a jury trial, but US District Judge Anthony Trenga didn’t let it get that far. In an opinion published Wednesday, Trenga found that IV’s patents were simply abstract ideas: “nothing more than the mere manipulation or reorganization of data,” he wrote. “At most, the patents describe a more efficient system or method for performing tasks than could be done without a computer, i.e. monitoring expenditures according to preset limits (the ‘137 Patent) or determining what would appeal to a particular user from a particular website (the ‘382 Patent.)”
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