September 18, 2023 — One-way financial institutions can reduce patent risk — which is rapidly increasing in Banking & Financial Services — is by joining patent pools. Doing this will minimize costs and uncertainties associated with patent infringement lawsuits. Unlike other patent pools, Open Invention Network offers a royalty-free cross-license, even if community members don’t have patents addressed by its Linux System definition. NatWest Group — a leader in delivering digital-based banking services throughout the UK and Ireland —  is implementing this strategy by joining OIN. Patent Lawyer Magazine covers the story.

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