On Episode 27 of The Edge of Innovation, we’re talking about technology in time for the holidays! We discuss how often companies should update technology and how to get the best deals when shopping for products.
Software patents aren’t dead, but they just took a blow. In a unanimous decision, the Supreme Court has ruled that a series of banking patents didn’t cover a concrete software process but an abstract idea, throwing them out and potentially setting a stricter precedent for future patents. Alice Corp. and CLS Bank are both major financial institutions, and they’ve been sparring for years in court. The issue is a series of patents that cover a kind of electronic escrow or “intermediated settlement,” where a third party holds the real money while “shadow” balances are shown to both sides during trading. In order to preempt a threat from Alice, which held those patents, CLS asked for a court to declare them invalid, saying that the basic idea…
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