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When two bank technology Goliaths go to battle over patents, smaller vendors might get hurt.
February 1
The Federal Circuit Court of Appeals has affirmed a lower court's decision that a patent lawsuit brought by CollegeNET against a unit of CoreLogic (CLGX) could not go forward.
CollegeNET claimed in the suit that several products from CoreLogic MarketLinx infringed upon its patent related to the automatic sending of notifications when newly entered data matches predefined search criteria. The MarketLinx products involved in the suit included MLXchange, TEMPO and Fusion multiple listing service systems.
The U.S. District Court for the Western District of Texas, where the suit was filed in 2009, granted CoreLogic MarketLinx summary judgment in November and found that CollegeNET's patent claims were invalid. For a patent to be valid, it has to meet several criteria, including being nonobvious.
The Federal Circuit Court affirmed that decision without an opinion, which leaves the district court's judgment in place and makes CollegeNET's patent invalid, CoreLogic said Thursday.
CollegeNET, headquartered in Portland, Ore., provides web-based technology for higher education and nonprofit institutions while CoreLogic, based in Santa Ana, Calif., provides consumer lending credit and risk analytics software as well as software for the real estate and insurance industries.
