Nasdaq Spinoff Patent Suit Targets Hiive Private-Stock Tools (1)

A Nasdaq Inc. spinoff sued Hiive in federal court alleging its private-stock trading and transfer platform infringes a newly issued patent covering automated clearing and settlement technology.

Hiive’s private company securities trading platform, its “Hiive Transaction Administration” products and services, and its related user interfaces use technology covered by US Patent No. 12,572,980, Nasdaq Private Market LLC alleged in a complaint filed Wednesday in the US District Court for the District of Delaware against Vancouver-based Hiive Co. and four of its units.

A Hiive spokesperson declined to comment.

The patent, issued March 10, relates to technology designed to standardize ...