Wall Street may not be as vulnerable to patent infringement lawsuits as Silicon Valley or the pharmaceuticals industry. But the gap is narrowing—and major banks are collaborating in an effort to keep accused patent trolls at bay.
The Patent Quality Initiative, a group formed earlier this month by the The Clearing House Payments Company, announced Monday that it had fired off a barrage of briefs aimed at undermining patents (and patent holders) that threaten the association’s two dozen global megabank members. The papers were filed last week by a Clearing House entity called Askeladden LLC—named for a Norwegian folk hero known for outwitting trolls.
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