Banks Find Group-negotiated Licensing Settlement Is Good Solution to ATM Patent Infringement Claims

W. John Funk, a financial services attorney with Gallagher, Callahan and Gartrell, recently concluded successful negotiations on behalf of a group of 22 banks located in Vermont, New Hampshire, Massachusetts, Connecticut and New York with Automated Transactions, LLC (ATL) to secure sub-license agreements for their ATM operations.

Funk, who co-authored A Primer on Automated Transactions LLC's Claim of Patent Infringement by ATMs, has represented more than 37 banks in such negotiations since 2011 and has found that the group approach often yields the best results for participants. According to Attorney Funk, there is litigation in some jurisdictions disputing the claims, but that many banks are opting to obtain the sub-license agreement as a cost-effective alternative. Banks or credit union representatives who wish to learn more about joining the next group for the purpose of negotiating terms of sub-license agreements to resolve the patent infringement claims, should contact John Funk directly.