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July 7, 2005
Printing Money
DataTreasury has a license to print money, in the form of two patents: 5,910,988 and 6,032,137. "Check 21" is a federal law, effective October 2004, which requires that paper checks become replaceable by digital versions. Essentially, DataTreasury patented the law.
After battling for a while in one of this country's patent plaintiff dreamlands, the Eastern District of Tejas, J.P. Morgan Chase just inked a licensing arrangement with DataTreasury, joining what promises to be a long list of licensees. Citigroup, Bank of America, Wachovia, and Wells Fargo are next on the griddle.
Posted by Patent Hawk at July 7, 2005 9:31 AM | Patents In Business