Partner Steven Lieberman was quoted in an IP Law360 article discussing how he and his client, the Chicago Board Options Exchange (CBOE), urged the Federal Circuit to reinstate three risk management patents, which were invalidated amid a $525 million battle with the International Securities Exchange. The argument is that the PTAB misapplied the Alice precedent in finding the patents invalid as abstract.
Steven, who serves as CBOE's counsel, was quoted as saying, “The fact that a computer is used isn’t what makes the claims patentable here. What makes them patentable is that there is a problem — a new type of problem — created by automated exchange trading systems, with an entirely new type of risk, and this invention cured that problem in a disruptive fashion.”
The article, "CBOE Tells Fed Circ. Alice Misapplied to Trading Patents," published by IP Law360, can be found here.
