Law360, New York ( August 16, 2016, 2:09 PM EDT) -- The automated teller machine, better known as the "ATM," will celebrate its 50-year anniversary next June.[1] The ATM's profound impact on the banking industry is undeniable, performing a multitude of services today that the original inventors likely did not fathom. The ATM is an early example of how technological innovations were employed to address business needs. And in 1970, no one would have thought to question its patentability as a major innovation bringing technology — including mechanical, electromechanical, electronic, computer and software — to the aid of the financial services industry. And in 1970, when the earliest instance of an ATM was granted a patent in the United States, the focus was much more on the innovation itself — the processing unit, magnetic card reader and other previously developed components that uniquely came together to enable cash withdrawal transactions without the aid of a human bank teller....