Lawmakers Debate Patent Immunity For Banks

I Don't Believe in Imaginary Property writes "Now that a small Texas company has a patent on scanning and archiving checks — something every bank does — that has survived a USPTO challenge, lawmakers feel they have to do something about it. Rather than reform patent law, they seem to think it wiser to protect the banks from having to pay billions in royalties by using eminent domain to buy the patent for an estimated $1 billion in taxpayer money, immunizing the banks. The bill is sponsored by Sen. Jeff Sessions (R-AL)."

Comments

Great Republican Ideas at work

[dkarma]

Wow this is awesome! Yet another great idea by the political party that brought you:
Two endless wars, Failed Katrina Recovery (Great Job Brownie!), a bridge to nowhere, and Torture just to name a few.