I had not known this part, that there is actually an issue whether Liquidnet copied Harborside’s system…
“ ITG also alleged that Liquidnet’s executives based their patent on the Harborside system which was “on sale and in public use” in the US for a year before Merrin and his colleagues filed with the US patent office for a provisional patent.Furthermore, according to ITG, when Merrin and his colleagues tried to gain approval for their own patent, they misled the U.S. patent office into believing that Harborside had copied Liquidnet’s system. Holway and his colleagues filed for their own patent for the Harborside system in 2000.”
Anyway, read the full story above.
Merry Christmas everyone!