IP Law News

CitiGroup’s Win in Payment Patent Suit Affirmed by Fed. Cir.

Nov. 25, 2020, 6:30 PM

A trial court was right to find several electronic payment patents invalid, the Federal Circuit ruled in a decision upholding CitiGroup Inc.’s win in an infringement lawsuit.

The U.S. District Court for the District of Delaware dismissed Fast 101 Pty Ltd.’s suit in January after finding the patents covered nothing more than the abstract idea of an “intermediated settlement system” with “a discount for early payment.”

Fast 101 argued, in part, the patents were eligible for protection because they included numerous technical improvements to electronic trading systems. The U.S. Court of Appeals for the Federal Circuit disagreed.

“Just as...

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