Banking Sector Suffers From Patents Too, Goldman Sachs Getting Well Armed With Patents
- Dr. Roy Schestowitz
- 2012-07-03 14:22:51 UTC
- Modified: 2012-07-03 14:22:51 UTC
Summary: Software and business method patents in the financial meta-industry
THE patent litigation frenzy has been
carrying on. Non-producing companies like
the infamous fraudsters from Goldman Sachs are also
arming themselves with patents. To quote:
By one estimate, Goldman Sachs holds 387 patents and patent applications, of which many no doubt relate to trading algorithms and general software processes.
A few months ago there was coverage of the
patent lawsuitagainst USAA and
some sources said:
Developer of bank apps to fight USAA patent infringement suit
Mitek Systems Inc., the software developer that has fallen by half since a customer accused it of misappropriating check- imaging technology, said it has the resources to fight the lawsuit filed last month by insurer USAA.
Mitek Systems has “sufficient resources to pursue this aggressively,” Chief Executive Officer James DeBello said in an interview April 9. The San Diego-based company continues to work with San Antonio-based USAA, he said. “We are a core part of the key product offering.”
This one affects software developers the most. They are being devalued. Generally speaking, the fake 'industry' of hedge funds and the likes of them helps devalue everything except itself. Patents are just more fake 'assets' to gamble on, pretending they have value to back loans with. It was a hedge fund that mercilessly destroyed Novell, for those who forgot (links below). Novell's patents got funnelled to monopolists.
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