"Island Intellectual Property Awarded Additional Patents for FDIC Cash Sweep Technology" says a release posted on DoubleRock's website. It says, "Island Intellectual Property LLC, which owns and manages the intellectual property for Double Rock Corporation, its subsidiaries, and affiliates, is pleased to announce that on March 2, 2010, the U.S. Patent and Trademark Office issued three additional patents relating to its FDIC cash sweep technology.... Adding to its already impressive patent portfolio, Island IP has been awarded five (5) patents thus far in 2010 relating to its innovative expanded FDIC cash sweep programs. The patents awarded on March 2nd apply to FDIC sweep products offered in the broker-dealer, banking and retail markets." A Feb. 23 release, entitled, "Island Intellectual Property Awarded Additional Patents for Innovative FDIC Sweep Technology," said, "Island IP and Intrasweep LLC filed a federal lawsuit on February 23, 2010, in the U.S. District Court for the Southern District of New York, seeking to enforce the ... Patents -- Docket No. 10-cv-1518, ISLAND INTELLECTUAL PROPERTY LLC and INTRASWEEP LLC v. DEUTSCHE BANK TRUST COMPANY AMERICAS, and TOTAL BANK SOLUTIONS, LLC." DoubleRock's patents, listed here, include: U.S. Patent No. 7,672,886, "Systems and Methods for Managing Client Accounts," U.S. Patent No. 7,672,901, "System and Method for Holdback Procedure for After-Hours Transactions," U.S. Patent No. 7,672,902, "System and Method for Pre-Funding Interest for Early Termination of Client Account Having Funding In One or More Aggregated Account," U.S. Patent No. 7,668,771, "System and Method for Allocation to Obtain Zero Activity in a Selected Aggregated Account," U.S. Patent No. 7,668,772, "Systems and Methods for Money Fund Banking With Flexible Interest Allocation," U.S. Patent No. 7,509,286, "Systems and Methods for Money Fund Banking with Flexible Interest Allocation," U.S. Patent No. 7,519,551, "Systems and Methods for Administering Return Sweep Accounts," U.S. Patent No. 7,536,350, entitled "Systems and Methods for Providing Enhanced Account Management Services for Multiple Banks."
