PIEtech, Inc., maker of the popular planning software product MoneyGuidePro, has settled a patent infringement lawsuit brought against it and UBS Financial Services by its competitor, Wealthcare Capital Management.
Richmond, VA-based Wealthcare had accused PIETech, in nearby Powhatan, Va, and the bank of using two of its patented planning processes in MoneyGuidePro. The settlement puts to rest concerns that a successful ruling on behalf of Wealthcare might have touched off a frenzy of activity throughout the industry to file patent protections, according to Joel Bruckenstein, a cofounder of Technology Tools Today (and a contributing editor to FP).
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