JPMorgan Chase Settles Intellectual Ventures’ Texas Patent Suit

JP Morgan Chase Bank NA settled patent infringement allegations stemming from a 2023 Texas lawsuit by a pair of patent-monetization firms.

The case alleged the bank infringed six patents covering data storage technology. The dispute was dismissed with prejudice and without award of attorney fees or costs on May 17, according to court records.

• Intellectual Ventures I LLC and Intellectual Ventures II LLC—formed in 1996 by Nathan Myhrvold, Microsoft’s former Chief Technology Officer— acquired more than 70,000 patents, according to court filings. and are notorious for its volume of patent cases.
• Intellectual Ventures claimed the bank infringed technologies involved in ...