Wednesday, December 06, 2006

ISE v. CBOE: business method patent battle

The International Securities Exchange [ISE] said on Dec. 6, 2006 that it filed a patent infringement lawsuit in SD NY against the Chicago Board Options Exchange [CBOE] concerning claims of its patent entitled "Automated Exchange for Trading Derivative Securities," issued on Sept. 9, 2003.

A CBOE memo stated ISE's latest legal action appears to be related to a suit in which the CBOE, McGraw-Hill Cos. and Dow Jones & Co. challenged ISE's attempt to list and trade options on Standard & Poor's 500 Index. (Reuters)

Separately, a jury in federal court in ND Cal (Oakland) awarded San Francisco-based Genentech and Brisbane, Calif.-based Tercica $7.5 million in damages and a percentage of future sales of the treatment against Insmed's Iplex. Tercica has a product Increlex, a growth drug used to treat about 6,000 short children. (from Bloomberg News)

[IPBiz post 2255]


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