Bancor's Lawsuit Against Uniswap for Infringement of Its Smart Contract Technology Patent Dismissed by Court
BlockBeats News, February 11th, the New York federal court dismissed the patent infringement lawsuit filed by a Bancor Protocol affiliate against Uniswap. The judge ruled that the relevant patent involved an abstract idea of cryptocurrency exchange rate calculation, which did not meet the patent eligibility requirements under U.S. patent law. The plaintiff's argument that implementing a pricing formula on blockchain infrastructure made it patentable was rejected, with the judge stating that restricting an abstract idea to a specific technological environment does not qualify it for a patent. The plaintiff has 21 days to submit an amended complaint.
Uniswap founder Hayden Adams briefly stated on social media, "A lawyer just told us we won."
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