EFF: Stupid Patent of the Month: Trading By Tweet
Stupid Patent of the Month: Trading By Tweet We’ve written many times about how the patent system is a poor fit for software . Innovation in the U.S. software industry happens despite, not because of, the thousands of software patents that are granted each year. But software is not the only industry where patents make very little sense. In the 1990s, the Federal Circuit opened the door to patents on methods of doing business. While the Supreme Court tried to undo some of that damage, financial institutions are still hit with patent lawsuits. Many of these suits come from trolls that don’t produce anything. And yet, just as in the tech sector, there are some financial companies that keep heading back to the U.S. Patent and Trademark Office seeking a 20-year monopoly on some tactic or another. This month, we’re highlighting U.S. Patent Number 10,147,140 , which was recently granted to BNY Mellon Bank. The first claim of the ’140 patent uses a lot of financial jargon to describe...