Uniswap scores early win as US judge dismisses Bancor patent suit
The court granted Uniswap’s motion to dismiss without prejudice, allowing plaintiffs 21 days to amend before the dismissal becomes final.
A New York federal judge has dismissed a patent infringement lawsuit brought by Bancor-affiliated entities against Uniswap, ruling that the asserted patents claim abstract ideas and are not eligible for protection under US patent law.
In a memorandum opinion and order dated Feb. 10, Judge John G. Koeltl of the US District Court for the Southern District of New York granted the defendant’s motion to dismiss the complaint filed by Bprotocol Foundation and LocalCoin Ltd. against Universal Navigation Inc. and the Uniswap Foundation.
The court found that the patents are directed to the abstract idea of calculating crypto exchange rates and therefore fail the two-step test for patent eligibility established by the US Supreme Court.