The FinancialCanadian-based online brokerage OANDA Corporation continues to battle New Jersey-based GAIN Capital Group over patent infringement allegations brought by OANDA several months ago. According to media reports, OANDA has filed a motion to dismiss claims made by GAIN Capital in its attempt to file a stay order to the proceedings.
OANDA filed the lawsuit earlier this year alleging violations of its patented technologies, specifically, US Patent Nos. 7,146,336 (“the ’366 patent”) and 8,392,311 (“the ’311 patent”). The original claim stated, “defendants have infringed one or more claims of the ʼ336 Patent by making, using, selling, offering for sale, or selling products and/or services that meet each of the limitations of one or more claims of the ʼ336 Patent.”
For its part, GAIN indicated in its proposed stay order that OANDA had some seven years to file its grievances since that is when the last Asserted Patent was issued to the company. Furthermore, GAIN indicated its strong belief that the products or services in question will ultimately be found to be unpatentable as a result of any actual trial proceedings.
It remains to be seen if OANDA Corporation actually does have a valid claim in this case, as the services which allegedly violated the patents are unique to operations of Forex online brokers, who oftentimes use the same or similar third parties in the execution of such services, making them common among the industry’s major brokers.