2013-12-16 Zero Hedge - J P Morgan' s Bitcoin-like patent rejected 175 times

[cr1776]

http://www.zerohedge.com/news/2013-12-15/jpmorgans-bitcoin-alternative-patent-rejected-175-times

 

Earlier in the week, we detailed JPMorgan's attempt to create their own "web cash" alternative to Bitcoin (and Sberbank's talk of doing the same). However, as M-Cam details, following the failure of the first 154 'claims', JPMorgan issued a further 20 claims - which were summarily rejected (making JPMorgan 0-175 for approved claims). As they note, The United States Patent & Trademark Office (USPTO)’s handling of applications like JPMorgan’s ‘984 application ("Bitcoin Alternative") highlights the need to fix a broken system - patent applications of existing inventions need to be finally rejected and not be resurrected as zombies (no matter how powerful the claimant).

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[EnderHf]

Well I'm surprised that they haven't stopped trying to patient it after 100 failed times though if they succeeded they can becoming a nice income generator for Jpmorgan

[TiagoTiago]

They might keep trying with something they know will be rejected, and then when they got a target to sue for patent infringement they'll fix their application and tweak to fit the target, and the date of the first filling will count even though they changed the contents...

[bryant.coleman]

This is good news, but the fight is not over. JP Morgan realizes that Bitcoin is a long term threat to their business. They will create more ingenious and fail-proof plans to destroy the BTC, either alone or in an alliance with like minded parties.

[StarfishPrime]

Rejected patent claims can often be quite useful as well in establishing prior art and/or non-patentability (i.e. to preclude anyone else from making identical patent claims at a later date)

[dopey]

Glad to see they got rejected though, that is nice.