Lawmakers Move to Grant Banks Immunity Against Patent Lawsuit (Sessions R AL)

Washington Post ^ | Thursday, February 14, 2008 | Jeffrey H. Birnbaum

[dickmc]

Sen. Jeff Sessions (R-Ala.) has sponsored an unusual provision at the urging of the nation's banks granting them immunity against an active patent lawsuit, potentially saving them billions of dollars. The federal government would have to pay $1 billion to the owner, DataTreasury, over 10 years as compensation
.......
The provision, passed without dissent by the Senate Judiciary Committee in July and inserted into legislation scheduled for a vote by the full Senate this month
.......
Political action committees of financial institutions were the largest single category of industry donors to Sessions, with $52,300 in the current election cycle, the center said. That represented nearly a quarter of PAC contributions he received as of midyear 2007.

[Defiant]

In a very early ‘Batman’ comic book (maybe even issue #1) arch-villain “Toyman” copyrighted the alphabet so nobody could use it without his permission.

How did the comic go to press so they could tell the story?

[Ben Ficklin]

Apparently there are some judges that disagree with you, which is why this amendment was offered.

It is a regulatory taking and regulatory takings are tools that the democrats use.

Sessions is a Dixiecrat.

[TheKidster]

Sure wish the administration would enforce patent laws when the Chinese rip off entrepeneurs and flood the market with cheap knock offs of what could have been a good product.

[bamahead]

You’re absolutely correct about this technology and process being around for 20+ years in the banking industry. Imaging checks is nothing new at all.

Just because this guy comes along and ‘documents the process’ as performed with his equipment and software, then gets some stooge at the patent office to rubber stamp it...doesn’t entitle him to limitless piles of money.

This does smell very funny. Sessions is typically a good Senator so I’d give him the benefit of the doubt until we know more. Are you familiar with the SCO Unix fiasco? They tried to make lawsuit rewards their primary line of business also, claiming they ‘invented’ most of Unix, where in fact it had been around 10+ years before they came along and claimed some of the basic functions of it as their own. Court got wise to their ploy and it didn’t work out so well for ‘em.

[bamahead]

SCO considered going after BoA for ‘using stolen technology’ as well.

http://www.news.com/2100-7344_3-5170073.html

This whole story has some eerily similar paralells.