|[December 12, 2012]
Realauction Fails to Invalidate Grant Street Group's Patent - Way Cleared for Trial
PITTSBURGH --(Business Wire)--
The United States Patent and Trademark Office (USPTO) has indicated its
intention to affirm -- for the third time -- the validity of Grant
Street Group's U.S. Patent No. 7,523,063 (the '063 Patent) pertaining to
electronic auctions of financial and legal instruments. In a Notice of
Intent to Issue a Reexamination Certificate issued on Monday, December
10, 2012, the USPTO announced that the patentability of the original
claims of the '063 Patent are confirmed in their entirety.
This concludes the second exhaustive reexamination of the '063 Patent,
which, like the previous one, was spawned by an attempt of Realauction
to invalidate the '063 Patent before facing trial as a defendant in a
patent infringement suit Grant Street Group filed against Realaution.
If Grant Street prevails at trial, which is likely to be scheduled early
in 2013, Realauction could be faced with a court-ordered injunction
prohibiting further use of Realauction's infringing RealTaxLien and
RealForeclose auction services.
"Given that our patent claims have now been thoroughly examined and
affirmed by three different groups of patent examiners at different
times over the past four years, I think we have proven beyond a doubt
that they are both valid and enforceable," said Myles Harrington,
President of Grant Street Group.
About Grant Street Group
Grant Street Group (www.GrantStreet.com)
has been supplying software as a service to more than 3,800 government
and financial institution clients since 1997. Grant Street is the
world's largest internet auctioneer, conducting online auctions of
bonds, notes, CDs, tax certificates, tax deeds, foreclosures and other
financial and legal instruments with a value exceeding $12 trillion.
Grant Street Group is also the nation's only supplier of fully-hosted
tax billing, collection and cashiering software as a service, including
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