1 year ago
The DeFi Education Fund says a patent owned by True Return Systems is being utilized to effort to nett from lawsuits against decentralized protocols.
A decentralized concern (DeFi) advocacy assemblage has petitioned the United States Patent and Trademark Office (USPTO) to reappraisal a patent owned by a institution it has accused of being a a “patent troll” — a steadfast that aims to nett from patent lawsuits.
In a Sep. 11 blog post the DeFi Education Fund (DEF) said connected Sep. 7 it filed an implicit 90 leafage petition to the Patent Trial and Appeal Board successful a bid to cancel a patent owned by True Return Systems.
Granted successful 2018, the patent lays assertion to a process for “linking off-chain information to a blockchain,” DEF ineligible main Amanda Tuminelli said successful a Sep.11 X (Twitter) post.
Tuminelli claimed True Return tried to merchantability its patent arsenic a nonfungible token (NFT). After nary purchaser it filed suit against the DeFi protocols MakerDAO and Compound Finance successful October.
4/ When that didn’t work, successful October 2022, TRS sued MakerDAO and “Compound Protocol” successful 2 abstracted national tribunal proceedings, alleging patent infringement.
Docket links: https://t.co/w47v7fAAEthttps://t.co/ExTapxhKNq
“Clearly [True Return’s] extremity was to sanction defendants who could not reply the ailment truthful [it] could get a default judgement,” Tuminelli said.
She claimed True Return would effort to enforce the court’s ruling against token holders and repetition the process with different protocols “that either can’t situation them successful tribunal oregon don’t person the resources to bash so.”
DEF claimed True Return’s tech successful the patent isn’t caller astatine the clip it was granted and claims to item akin existing tech specified arsenic the InterPlanetary File System (IPFS) on with the decentralized retention platforms Sia, Storj and Swarm.
8/ In our petition, we marque the constituent that the “invention” successful the patent was not caller successful 2018. There are galore examples of “prior art” the Patent Board tin look astatine - examples - a NASDAQ patent that links terms information off-chain to on-chain transaction historyhttps://t.co/amz3jREab7 pic.twitter.com/RJ3VVGFeEj
— Amanda Tuminelli (@amandatums) September 11, 2023True Return Systems acknowledged Cointelegraph’s petition for remark but did not instantly supply a comment.
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DEF said it launched the petition with USPTO to support the quality to usage and make unfastened root software, to halt immoderate imaginable plans by True Return to sue crypto projects and assistance MakerDAO and Compound’s ineligible defence.
True Return has 3 months to optionally respond to the petition, aft six months the USPTO indispensable marque a determination if it volition determination guardant with reviewing the patent wherever it has 12 months to determine if the patent should beryllium cancelled.
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