At war with the Fed: Independent inventor’s story akin to ‘David vs. Goliath’

William Bozeman, an independent inventor with a colorful history, says he used to have a good relationship with the Federal Reserve System and even helped improve its fraud detection efforts.

He thought the Fed was working toward a licensing deal for some of his software, which he said could help spot fraudulent checks earlier than the system it was using.

So he was stunned when the government’s central bank in 2017 went to war with him “out of nowhere” by filing a federal lawsuit and two challenges to his patents with the U.S. Patent and Trademark Office.

The Fed described Mr. Bozeman as an opportunist, trying to demand money for technology he didn’t invent.

Mr. Bozeman said he is being bullied by the secretive central bank and that the Fed is trying to run up his legal bills by filing all the complaints in an effort to make him go away.

“This appears to be a David versus Goliath story,” said Terry Fokas, a lawyer and founder of a Dallas-based patent software company. “The Federal Reserve, with all of its resources, appears to be trying to bury an independent inventor.”

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