{"id":154149,"date":"2023-09-12T11:55:52","date_gmt":"2023-09-12T06:25:52","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=154149"},"modified":"2023-09-12T11:55:52","modified_gmt":"2023-09-12T06:25:52","slug":"defi-group-petitions-to-stop-patent-troll-targeting-defi-protocols-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/defi-group-petitions-to-stop-patent-troll-targeting-defi-protocols-crypto-news\/","title":{"rendered":"DeFi group petitions to stop \u2018patent troll\u2019 targeting DeFi protocols – Crypto News"},"content":{"rendered":"
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A decentralized finance (DeFi) advocacy body has petitioned the United States Patent and Trademark Office (USPTO) to review a patent owned by a company it has accused of being a a \u201cpatent troll\u201d \u2014 a firm that aims to profit from patent lawsuits.<\/p>\n

In a Sep. 11 blog post<\/a> the DeFi Education Fund (DEF) said on Sep. 7 it filed an over 90 page petition to the Patent Trial and Appeal Board in a bid to cancel a patent<\/a> owned by True Return Systems. <\/p>\n

Granted in 2018, the patent lays claim to a process for \u201clinking off-chain data to a blockchain,\u201d DEF legal chief Amanda Tuminelli said in a Sep.11 X (Twitter) post.<\/p>\n

Tuminelli claimed True Return tried to sell its patent<\/a> as a nonfungible token (NFT). After no buyer it filed suit against the DeFi protocols MakerDAO and Compound Finance in October.<\/p>\n

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4\/ When that didn\u2019t work, in October 2022, TRS sued MakerDAO and \u201cCompound Protocol\u201d in two separate federal court proceedings, alleging patent infringement.
Docket links: https:\/\/t.co\/w47v7fAAEt<\/a>https:\/\/t.co\/ExTapxhKNq<\/a><\/p>\n

\u2014 Amanda Tuminelli (@amandatums) September 11, 2023<\/a><\/p><\/blockquote>\n

\u201cClearly [True Return\u2019s] goal was to name defendants who could not answer the complaint so [it] could get a default judgement,\u201d Tuminelli said.<\/p>\n

She claimed True Return would try to enforce the court\u2019s ruling against token holders and repeat the process with other protocols \u201cthat either can\u2019t challenge them in court or don\u2019t have the resources to do so.\u201d<\/p>\n

DEF claimed True Return\u2019s tech in the patent isn\u2019t new at the time it was granted and claims to highlight similar existing tech such as the InterPlanetary File System (IPFS<\/a>) along with the decentralized storage platforms<\/a> Sia, Storj and Swarm.<\/p>\n

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8\/ In our petition, we make the point that the \u201cinvention\u201d in the patent was not new in 2018. There are many examples of \u201cprior art\u201d the Patent Board can look at – examples – a NASDAQ patent that links price data off-chain to on-chain transaction historyhttps:\/\/t.co\/amz3jREab7<\/a> pic.twitter.com\/RJ3VVGFeEj<\/a><\/p>\n

\u2014 Amanda Tuminelli (@amandatums) September 11, 2023<\/a><\/p><\/blockquote>\n

True Return Systems acknowledged Cointelegraph\u2019s request for comment but did not immediately provide a comment.<\/p>\n

Related: <\/em><\/strong>SEC\u2019s Gary Gensler to hold firm on crypto enforcement in Senate hearing<\/em><\/strong><\/a><\/p>\n

DEF said it launched the petition with USPTO to defend the ability to use and develop open source software, to stop any potential plans by True Return to sue crypto projects<\/a> and help MakerDAO and Compound\u2019s legal defence.<\/p>\n

True Return has three months to optionally respond to the petition, after six months the USPTO must make a decision if it will move forward with reviewing the patent where it has 12 months to decide if the patent should be cancelled.<\/p>\n

Magazine: <\/em><\/strong>Hall of Flame: Crypto lawyer Irina Heaver on death threats, lawsuit predictions<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A decentralized finance (DeFi) advocacy body has petitioned the United States Patent and Trademark Office (USPTO) to review a patent owned by a company it has accused of being a a \u201cpatent troll\u201d \u2014 a firm that aims to profit from patent lawsuits. In a Sep. 11 blog post the DeFi Education Fund (DEF) said […]<\/p>\n","protected":false},"author":2,"featured_media":154150,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-154149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=154149"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154149\/revisions"}],"predecessor-version":[{"id":154152,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154149\/revisions\/154152"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/154150"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=154149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=154149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=154149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}