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Senate Advances Patent Measure

Credit unions are pushing for passage of a patent reform bill that the Senate is likely to vote on soon that could limit their exposure to patent infringement lawsuits.

By Claude R. Marx | Updated on September 14, 2011

Credit unions are pushing for passage of a patent reform bill that the Senate is likely to vote on soon that could limit their exposure to patent infringement lawsuits.

At press time, it was likely to pass a bill that would make it harder for holders of “business method” patents which cover processes such as electronic filing of documents, to sue financial institutions such as credit unions. Under the bill, credit unions and banks accused of patent infringement to demand a review of the patent by the U.S. Patent and Trademark Office. It passed the House in June.

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