New Litigation Campaign Targets Mobile Banking with Patent Acquired on Open Market
- November 1, 2012
N5 Technologies filed two separate suits against Bank of America and Capital One, alleging that the defendants’ mobile banking services infringe a patent related to text message based user authentication. These are the first two patent infringement suits filed by N5 Technologies. The patent-in-suit originated with Schlumberger Technology and was assigned to N5 Technologies in September 2012. Panovia Group, LLP is the correspondent on the assignment. RPX reviewed the patent-in-suit on the open market in June 2010 (Schlumberger Security) and again in April 2012 (Schlumberger Mobile). The patent-in-suit was one of three patents offered for sale by Schlumberger in 2010. At the time, Schlumberger was seeking mid-six figures for all three patents. One of the three patents, generally related to Web publishing of documents, (6,990,629) was acquired by IPNav and was the subject of suits filed by plaintiff entity, Ingeniador. A third patent (6,877,041) related to firewall security was later assigned to Comcast in January 2012. The N5 patent was the subject of a second marketing effort by Charles River Associates in 2012 in which the patent was offered for sale in an online auction held in May. However, Schlumberger did not assign the patent to N5 until September. The assignment was recorded two days before the suits against Bank of America and Capital One were filed. 10/25, Eastern District of Texas, 2:2012cv00685; 2:2012cv00686.