Describing Algorithms In Understandable Terms That Provide Structure To A Person Of Ordinary Skill In The Art Renders Definite Computerized Means-Plus-Function Claims

In Chicago Board Options Exchange, Inc. v. International Securities Exchange, LLC, No. 13-1326 (Fed. Cir. Apr. 7, 2014), the Federal Circuit affirmed the district court's judgment of noninfringement of U.S. Patent No. 6,618,707 ("the '707 patent") by the Chicago Board Options Exchange, Inc. ("CBOE"), and reversed the district court's finding that claim 2 of the '707 patent was indefinite.

International Securities Exchange, LLC ("ISE") is the owner of the '707 patent, which is directed to an "automated exchange" for trading financial instruments, and which distinguishes the "automated" exchange from the traditional, floor-based "open-outcry" system for trading options contracts. ISE brought suit against CBOE for patent infringement based on CBOE's Hybrid Trading System, and CBOE subsequently brought suit against ISE seeking a DJ of noninfringement.