Intellectual Property: The Bank Is Accused of Patent Infringement--What Next?

Banks and other financial services industry companies are increasingly becoming attractive targets for patent holders and are being dragged into expensive and time-consuming patent litigation. While there may be a temptation to simply ignore notice letters sent by patent holders in anticipation of such litigation, failure to take heed can significantly hamper the bank's ability to properly defend against the charges. This column proposes some steps that a bank can take upon receiving a notice letter to ensure that it is able to mount a comprehensive, effective, and successful legal strategy in defense of the patent holder's claims. [PUBLICATION ABSTRACT]