WASHINGTON (CN) - The Federal Circuit refused to dismiss a lawsuit accusing Wells Fargo and other major banks of infringing on patents held by DataTreasury Corp. for electronic check-clearing technology.
DataTreasury acquired the patents in 2006 from e-Banc and WMR e-Pin, which previously licensed them to Wells Fargo and other banks.
The three-judge panel ruled that DataTreasury is not bound by the arbitration clause in the licensing agreements, because the provision applied to the original parties only.
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