Case Filed: Mar 07, 2012
Case Closed: May 19, 2014
Court: Delaware District Court
Judge: Sue L. Robinson
Case Summary:
Pi-Net International (Pi-Net),
Menlo Park, California-based intellectual property firm, filed a lawsuit
against banking and financial services holding company, JPMorgan (JPM) alleging
patent infringement related to transactions initiated by members via their
websites.
Patents-in-suit:
- US5987500 entitled ‘Value-added network system for enabling real-time, bi- directional transactions on a network,’ issued on Nov 16, 1999
- US8037158 entitled ‘Multimedia transactional services,’ issued on Oct 11, 2011
- US8108492 entitled ‘Web application network portal,’ issued on Jan 31, 2012
The patents were originally
granted to Lakshmi Arunachalam and are currently assigned±
to Pi-Net (source: MaxVal’s Assignment
Database.) The ‘158 and ‘492 patents expire* by Aug 05,
2016 and the ‘500 patent expires* by Jun 20, 2017.
The patents-in-suit generally claim a system and method for online
transactions, wherein a user takes an action at the "front-end" that
causes data to be routed through a system and used as a basis to execute a
transaction at the "back-end," thereby completing a real time
transaction.
As in complaint:
JPM provides online financial
services via electronic means accessible through several websites, which
include http://www.chase.com, http://www.jpmorgan.com and http://www.jpmorgansecurities.com.
According to the complaint, JPM’s online banking systems practice the patented
technology of a configurable value added network switch. Pi-Net accuses six of the JPM’s online
banking instrumentalities including Account Transfers, Payments, Customer
Center, Account Activity (Business Card), Wire Transfers and Chase Mobile
Application Quick Paysm. No specified damages were sought in the complaint.
Judgment:
After issuing its opinion, court granted
JPM’s motion for summary judgment of non-infringement and invalidity of the
patents-in-suit. Accordingly, judgment was rendered favoring JPM against Pi-Net.
About Pi-Net:
Pi-Net provides software
products, services and solutions that enable distributed transaction processing
over public and private networks. Pi-Net claims to hold patents on the
technology allowing members to initiate transactions via credit union websites.
Other cases by Pi-Net:
Pi-Net has been active in the
courts since 2012, lodging piles of patent infringement suits against various
financial services providers, including Bank of America, Capital One,
Wilmington Trust, UBS Financial Services and other consumer companies including
Wal-Mart, Target and Staples.
See 1:12-cv-00282
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± MaxVal offers Patent Assignment
Alert service where subscribers receive email alerts when assignments relating
to target applications, patents or entities of interest are recorded.
* Expected
expiration date. Patent Term Estimator is a free web-based tool that
automatically calculates patent terms and expiration dates for U.S. utility
patents.
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