ASD Files Patent Infringement Lawsuit Against Fiserv and Federal Reserve Banks.RICHMOND HILL, Ontario Richmond Hill (2006 population 162,704) is a town in York Region north of Toronto, Ontario, Canada. It is part of the Greater Toronto Area. History The area was first surveyed by Lieutenant-Governor John Graves Simcoe in 1794 while he was constructing Yonge Street. -- Advanced Software Design (ASD ASD abbr. atrial septal defect ASD Atrial septal defect, see there ) Corporation, a leader in innovative fraud prevention solutions for banks and credit unions, announced it has filed a lawsuit against Fiserv, Inc. and the Federal Reserve Banks of St. Louis, Philadelphia and Atlanta, for infringement of the patents relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc ASD's SAND[R] (Self-Authenticated Negotiable Documents) technology. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the lawsuit, the patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. is caused by The Federal Reserve Banks' use of the "Secure Seal" technology, supplied by Fiserv, for the validation and/or printing of US Treasury checks. "We made multiple attempts to discuss a mutually beneficial Adj. 1. mutually beneficial - mutually dependent interdependent, mutualist dependent - relying on or requiring a person or thing for support, supply, or what is needed; "dependent children"; "dependent on moisture" business arrangement with Fiserv, to avoid impacting their bank customers and the industry. Regrettably, having received no response from Fiserv, we have been forced to also involve the Federal Reserve Banks in this process, in addition to Fiserv, and ask the Court to resolve this matter. ASD is actively engaged in selling the SAND[R] technology, therefore protecting our intellectual property is essential, as is the protection it affords to our clients and partners. Considering Fiserv's and the Federal Reserve Banks' position in the industry, and the high visibility of the US Treasury checks, we have become increasingly concerned that financial institutions might incorrectly assume they must implement Fiserv's technology," said Calin Sandru, President, ASD. "The industry is aware of our patent portfolio and our commitment to license our check validation interoperability patent based on a policy of 'reasonable and non-discriminatory terms to customers similarly situated'." ASD continues to support the adoption of multiple image survivable sur·viv·a·ble adj. 1. Capable of surviving: survivable organisms in a hostile environment. 2. That can be survived: a survivable, but very serious, illness. check security features to prevent fraud. The interoperability patent is not the object of this lawsuit. This lawsuit is about Fiserv, Fiserv's technology, and the Federal Reserve Banks implementing methods claimed under the SAND[R] patents. Acting on behalf of ASD in this matter is the law firm of Senniger Powers, St. Louis, MO. About Advanced Software Design Corporation Advanced Software Design (ASD) Corporation is a privately held software company and a leader in innovative fraud solutions. ASD provides end-to-end solutions to prevent fraud in an image exchange environment, and enable financial institutions to derive value from new cash management and treasury services. ASD's patented SAND[R] interoperable image survivable security feature, payee The person who is to receive the stated amount of money on a check, bill, or note. payee n. the one named on a check or promissory note to receive payment. PAYEE. The person in whose favor a bill of exchange is made payable. positive pay, OASIS[TM] transaction analysis, signature and check stock verification, and ValidateCheck[TM] enable detection of check alterations, counterfeits and forgeries, at the point of presentment, and interoperability. www.asdc.com |
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