(By Balaseshan) MacroSolve Inc. (PINK:MCVE), a technology and services company doing business as Illume Mobile, said it has filed a patent infringement suit against JPMorgan Chase (NYSE:JPM) for violation of its mobile information collection systems patent.
The company filed infringement suit against JPMorgan Chase Inc. and JPMorgan Chase Bank N.A. for violation of MacroSolve's U.S. Patent No. 7,822,816. MacroSolve's patent covers fundamental technology in the mobile application space utilized by multiple companies.
The patent addresses mobile information collection systems across all wireless networks, smartphones, tablets, and rugged mobile devices, regardless of carrier and manufacturer, and is currently utilized in MacroSolve's rapid mobile app development platforms.
On October 26, 2010, the United States Patent and Trademark Office issued U.S. Patent No. 7,822,816 to MacroSolve. The patent, a significant intellectual property asset to MacroSolve, further advances its position as a leader in the mobile solutions market.
Leveraging its intellectual property portfolio, MacroSolve enforces its landmark patent while providing mobile app products and services under the name Illume Mobile.
The mobile app development services space is projected to become a $100 billion market in 2015, according to Research2Guidance.
MCVE is trading up 5.66% at $0.056 on Thursday, while JPM trades down 0.05% at $36.43.