CLS wins 'patent troll' Supreme Court case
Australian firm claimed to own patent rights to CLS settlement systems, but Supreme Court threw out the case in a 9-0 judgement
Foreign exchange settlement service CLS won its long-running legal dispute with ‘patent troll' Alice Corporation this week, when the US Supreme Court decided unanimously that the abstract idea of intermediated settlement is not patent eligible.
The industry is likely to greet the decision with a sigh of relief, as CLS had warned that defeat could lead to serious market disruption and a rise in overall trading costs. Alice Corp, a little-known Australian firm that buys up technology patents with
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