TD Bank Group joins Open Invention Network (OIN) community
By Pavithra R
The Toronto-Dominion Bank (TD Bank) has announced joining Open Invention Network (OIN), the organization formed to safeguard open-source software (OSS) and a large patent non-aggression community, as a community member.
OIN’s community practices patent non-aggression in core Linux and adjacent OSS technologies by cross-licensing Linux System patents to one another on a royalty-free basis. Patents owned by OIN are similarly licensed royalty-free to any organization that agrees not to assert its patents against the Linux System.
“The financial services and fintech industries are increasingly relying on open source technologies for building and integrating feature-rich platforms. As the first major North American bank to join our community, we are pleased that an established leader like TD is committed to patent non-aggression in core Linux and adjacent open source technologies,” said Keith Bergelt, CEO of Open Invention Network.
TD bank offer a full range of financial products and services to more than 26 mn customers worldwide and is focused on constantly improving its operating platforms and frequently uses OSS to do so. By joining OIN, TD is demonstrating its commitment to patent non-aggression in OSS.
“We remain focused on leveraging the best technologies for our platforms and are excited to join the Open Invention Network (OIN), that supports protection from patent infringement claims for the greater good of the wider innovation community,” said Josh Death, Intellectual Property and Patentable Innovations Lead at TD.
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group. It is the sixth-largest bank in North America by branches and serves over 26 mn customers in 3 key businesses operating in a number of locations in financial centres around the globe.
IBSi Daily News Analysis
November 29, 2023
How Financial Cybersecurity landscape will evolve in 2024 with banking Trojans and direct payment attacksRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage