AdvanceMe Patent Ruled Invalid - Electronic Transactions Association

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AdvanceMe Patent Ruled Invalid

A U.S. District Court judge in eastern Texas has ruled that an AdvanceMe Inc.-held patent for its method of providing merchants cash advances against their future credit card receivables is not valid, because it didn't qualify as a new business method. Judge Leonard Davis ruled that AdvanceMe's creator and holder of the patent "merely built on long-established prior art." Noting that AdvanceMe's business was an example of excellent entrepreneurship, that did not entitle AdvanceMe to patent protection.

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