Twitter Founder Sues Over Patent Rights To Smartphone Credit Card Reader
ST. LOUIS – Twitter co-founder Jack Dorsey has filed suit against a local college professor over the patent rights to Square, a credit card reader that can be attached to smartphones.
Square is a small plug-in device that reads credit cards and allows vendors to take their business on the go. Square is compatible with iPhones, iPads and Android-powered phones. It charges users a 2.75% fee on swiped sales.
Robert Morley, the defendant, is an associate professor of electrical engineering at Washington University. Morley has sole ownership of the patent for the technology behind Square
Dorsey, who also is the CEO of Square, has joined Jim McKelvey, owner of a local glass factory, in suing Morley’s company, REM Holdings 3 LLC. McKelvey claims that he originally thought of the idea for Square to help his own business.