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I don't see a substantial difference between this part and a standard banana jack. For example - http://www.alliedelec.com/search/productdetail.aspx?SKU=70209775.
Versus USD651568
The purpose of this part is to act as an insulator around a banana socket. But these have been around for decades.
How was this patent issued?
This is a design patent. Design patents are not for inventions, but for a unique look or styling. Relevant prior art would be a female connector that looked like this.
