Weekly IP Buzz for the Week Ending February 12, 2021

February 15, 2021 Darin M. Klemchuk

In this week's post, we see that the manner in which investing and trading is changing with new and modern service models. However, the SEC has concerns with the Robinhood app and consumers should gain an understanding of it actually works.

Plus, as Andrei Iancu resigns from his post as USPTO Director, he continues to push for patent reform and highlights three-year accomplishments.

Investing with Robinhood: The Allure and Controversy

This is the first in a series of blogs about Robinhood. The financial market and technology community has been abuzz recently with the story about Robinhood, an app that allows mobile trading. Despite its popularity among its users, however, recent allegations have arisen that claim that this Robinhood steals from the poor and gives to the rich.

The company behind the Robinhood app, Robinhood Markets, Inc., is an American financial company. Robinhood is a FINRA-regulated broker-dealer, which is duly registered with the U.S. Securities and Exchange Commission. Revenue is mainly derived from three main sources: (1) interest earned on customers’ cash balances; (2) selling order information to high-frequency traders (which is a practice that is currently under SEC investigation); and (3) margin lending.

Even though the Robinhood app has been around since 2015, the app only recently sprung to national news this past month due to a trading controversy concerning dwindling GameStop stock.

Find the full article here.

As Andrei Iancu Resigns, He Calls for Continued Patent Reform and Highlights Accomplishments

Credibility Since U.S. Patent and Trademark Director Andrei Iancu announced in January that he was resigning as director as of the induction of the Biden administration on Wednesday January 20. Iancu served as the director of the USPTO beginning in 2017. Iancu was regarded as a very pro-patentee director during his tenure. In a speech at a U.S. Chamber of Commerce event Iancu announced his resignation and thanked those attending for the privilege of serving.

During the speech Iancu also made a call for further reform on patent eligibility requirements. Iancu stressed that many of the important inventions and technologies, like those in the fields of bioinformatics, artificial intelligence, and digital processing, are being impacted by the current state of patent eligibility requirements in the U.S.