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===Growth and transition===
===Growth and transition===
Nearly insolvent in early 2002, the company tapped Keith De Lucia for CEO and investment capital to stave off bankruptcy. De Lucia had previously been arrested for armed robbery: "In 1991, DeLucia, then known as Keith Wickey, was convicted of robbing an armored car in Suffolk County, N.Y., and served some time and probation."<ref name = "policito">Lisa Lerer, [http://www.politico.com/news/stories/0308/9202.html ''Senate, old legal woes drawn into patent fight''], [[The Politico]], March 25, 2008.</ref> Shortly after De Lucia's hire, DataTreasury retained the Texas law firm of Nix, Patterson & Roach a [[law firm]] specializing in [[contingency fee]] litigation.<ref>[http://www.nixlawfirm.com/NPR/Repository/Pr0_1204739785/view Nix, Patterson & Roach summary of DataTreasury litigation]</ref><ref>[http://www.nixlawfirm.com/landmark_cases Nix, Paterson & Roach Landmark Cases]</ref> In 2002, DataTreasury sued a number of [[bank]]s and other companies for [[patent infringement|infringing]] its [[patent]]s. <ref>[http://www.datatreasury.com/news_details.asp?newsId=50 "DataTreasury Corporation Files Lawsuits Against Bank of America, Citigroup, Wachovia and Wells Fargo; Suits Allege Infringement of Patented Check-Processing Technology" July 6, 2005]</ref> DataTreasury has been characterized as a [[patent troll]] for this action. {{Who|date=March 2008}}. DataTreasury "saw opportunity in the new law", referring to the Check 21 Legislation that was passed after September 11, 2001 that allowed banks to switch to electronic check imaging.<ref name = "policito"/>
Nearly insolvent in early 2002, the company tapped Keith De Lucia for CEO and investment capital to stave off bankruptcy. According to [[The Politico]], {{verify credibility}} De Lucia had previously been arrested for armed robbery: "In 1991, DeLucia, then known as Keith Wickey, was convicted of robbing an armored car in Suffolk County, N.Y., and served some time and probation."<ref name = "policito">Lisa Lerer, [http://www.politico.com/news/stories/0308/9202.html ''Senate, old legal woes drawn into patent fight''], [[The Politico]], March 25, 2008.</ref> This information is not confirmed by other sources however. Shortly after De Lucia's hire, DataTreasury retained the Texas law firm of Nix, Patterson & Roach a [[law firm]] specializing in [[contingency fee]] litigation.<ref>[http://www.nixlawfirm.com/NPR/Repository/Pr0_1204739785/view Nix, Patterson & Roach summary of DataTreasury litigation]</ref><ref>[http://www.nixlawfirm.com/landmark_cases Nix, Paterson & Roach Landmark Cases]</ref> In 2002, DataTreasury sued a number of [[bank]]s and other companies for [[patent infringement|infringing]] its [[patent]]s. <ref>[http://www.datatreasury.com/news_details.asp?newsId=50 "DataTreasury Corporation Files Lawsuits Against Bank of America, Citigroup, Wachovia and Wells Fargo; Suits Allege Infringement of Patented Check-Processing Technology" July 6, 2005]</ref> DataTreasury has been characterized as a [[patent troll]] for this action. {{Who|date=March 2008}}. DataTreasury "saw opportunity in the new law", referring to the Check 21 Legislation that was passed after September 11, 2001 that allowed banks to switch to electronic check imaging.<ref name = "policito"/>


In 2003, the [[US Congress]] passed the [[Check 21 Act]] thus allowing banks to use secure check imaging technology to replace storage of paper checks. This significantly expanded the market for DataTreasury's inventions.<ref>[http://www.datatreasury.com/news_details.asp?newsId=123 DataTreasury Corporation: “Check 21” Enables Implementation of Patented Technology, DataTreasury press release, October 28, 2003]</ref>
In 2003, the [[US Congress]] passed the [[Check 21 Act]] thus allowing banks to use secure check imaging technology to replace storage of paper checks. This significantly expanded the market for DataTreasury's inventions.<ref>[http://www.datatreasury.com/news_details.asp?newsId=123 DataTreasury Corporation: “Check 21” Enables Implementation of Patented Technology, DataTreasury press release, October 28, 2003]</ref>

Revision as of 09:09, 30 March 2008

DataTreasury, located in Plano, Texas United States, develops and licenses technology for secure cheque image capture and storage. Their technology is covered in part by U.S. patent 5,910,988 and U.S. patent 6,032,137. Similar patents are pending on other countries as well.

History

Invention of secure check imaging technology

Ballard declaration on invention of secure check imaging.

The secure check imaging technology claimed by the DataTreasury patents was invented by Claudio Ballard in July 1994.[1] He got his idea when he would meet regularly with his father at a local pizza diner after his mother passed away. When he saw the shoe boxes full of receipts that the restaurant kept for records, he realized that, if he could develop a secure method of image storage and replace the shoe boxes, it would be a tremendous help to these small businesses.[2]

Claudio built the original working prototype in 1995 at his own expense. This was a considerable hardship [unbalanced opinion?] considering he was unemployed at the time. He filed his first patent application in August 1997 after receiving angel investment funding from an acquaintance, Peter Lupoli, who was impressed with the prototype's capabilities.[2]

Foundation

Claudio Ballard founded DataTreasury in 1998 in Melville, NY. His two patents issued in 1999 and 2000 respectively.[3]

In 2002, DataTreasury licensed their first imaging system, eImageVault, to Bank Hapoalim of Israel. [4]

Growth and transition

Nearly insolvent in early 2002, the company tapped Keith De Lucia for CEO and investment capital to stave off bankruptcy. According to The Politico, [unreliable source?] De Lucia had previously been arrested for armed robbery: "In 1991, DeLucia, then known as Keith Wickey, was convicted of robbing an armored car in Suffolk County, N.Y., and served some time and probation."[5] This information is not confirmed by other sources however. Shortly after De Lucia's hire, DataTreasury retained the Texas law firm of Nix, Patterson & Roach a law firm specializing in contingency fee litigation.[6][7] In 2002, DataTreasury sued a number of banks and other companies for infringing its patents. [8] DataTreasury has been characterized as a patent troll for this action. [who?]. DataTreasury "saw opportunity in the new law", referring to the Check 21 Legislation that was passed after September 11, 2001 that allowed banks to switch to electronic check imaging.[5]

In 2003, the US Congress passed the Check 21 Act thus allowing banks to use secure check imaging technology to replace storage of paper checks. This significantly expanded the market for DataTreasury's inventions.[9]

In December of 2004, Keith De Lucia stepped down as CEO to pursue personal interests. [10]

In 2005 DataTreasury sued additional banks for patent infringement. [citation needed] Many of these cases are still pending.[citation needed]

In 2007, the United States Patent and Trademark Office affirmed the validity of the DataTreasury patents after performing a reexamination.[citation needed]

DataTreasury has had as many as 100 employees, but currently only has two employees. [11]

Licensees

The following banks and corporations have taken a license and/or settled their lawsuits with DataTreasury.[12]

The following banks have not settled the cases DataTreasury has brought against them.

Patent reexamination

In November 2005, First Data Corporation filed a request for a reexamination of the DataTreasury patents citing numerous earlier publications that it felt either anticipated the DataTreasury inventions or made them obvious. In 2007, however, the Patent Office upheld both patents and further allowed DataTreasury to claim additional inventions that were disclosed but not claimed in the original applications.[13][14]

Patent reform

In February 2008, an amendment was introduced into the pending US Patent Reform Act of 2007 allowing banks and other financial institutions to infringe the DataTreasury patents without paying a license fee. This has been characterized as a regulatory taking. [who?] The Congressional Budget Office has estimated that this action could cost the US government about $1 billion in compensation to DataTreasury.[11]

References

  1. ^ USPTO reexamination serial number 90/007,829, Ballard Declaration of Conception and Reduction to Practice”, filed 1/30/07
  2. ^ a b Cite error: The named reference ”Ballard” was invoked but never defined (see the help page).
  3. ^ DataTreasury About US web page
  4. ^ “DataTreasury Inks Pact With Bank Hapoalim” DataTreasury press release, January 24, 2002.
  5. ^ a b Lisa Lerer, Senate, old legal woes drawn into patent fight, The Politico, March 25, 2008.
  6. ^ Nix, Patterson & Roach summary of DataTreasury litigation
  7. ^ Nix, Paterson & Roach Landmark Cases
  8. ^ "DataTreasury Corporation Files Lawsuits Against Bank of America, Citigroup, Wachovia and Wells Fargo; Suits Allege Infringement of Patented Check-Processing Technology" July 6, 2005
  9. ^ DataTreasury Corporation: “Check 21” Enables Implementation of Patented Technology, DataTreasury press release, October 28, 2003
  10. ^ "Chief Executive Officer of DataTreasury Corporation Steps Down; Nationwide Search for New Chief Executive Begins." DataTreasury press release, December 10, 2004
  11. ^ a b Jeffrey H. Birnbaum, "Lawmakers Move to Grant Banks Immunity Against Patent Lawsuit", Washington Post, February 14, 2008; Page A22.
  12. ^ DataTreasury Press Release index
  13. ^ “The U.S Patent and Trademark Office has upheld substantially all of the claims…” Data Treasury press release July 10, 2007
  14. ^ USPTO Ex parte Reexamination Communication Transmittal Form” May 15, 2007

See also

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