Tags: US | IT | Internet | Google | patent | computers

Google Sets up Marketplace to Buy Patents

Monday, 27 Apr 2015 01:04 PM

Google announced Monday it is setting up an online marketplace for those who want to sell patents to the Internet giant.

"We invite you to sell us your patents," Google patent deputy counsel Allen Lo said in a blog post.

Lo said the "Patent Purchase Promotion" is an "experimental marketplace for patents that's simple, easy to use, and fast."

He noted that patent owners who want to sell often face difficulties.

"The usual patent marketplace can sometimes be challenging, especially for smaller participants who sometimes end up working with patent trolls," he said.

"Then bad things happen, like lawsuits, lots of wasted effort, and generally bad karma. Rarely does this provide any meaningful benefit to the original patent owner."

The new marketplace aims "to remove friction from the patent market" and will include a "streamlined portal" from May 8 through May 22 where patent holders can tell Google about patents they're willing to sell at a price they set.

"As soon as the portal closes, we'll review all the submissions, and let the submitters know whether we're interested in buying their patents by June 26."

The deals should be completed by late August, Google said. Google is limiting the project to US patents and holders with a US tax identification number.


© AFP 2017

   
1Like our page
2Share
SciTech
Google announced Monday it is setting up an online marketplace for those who want to sell patents to the Internet giant. We invite you to sell us your patents, Google patent deputy counsel Allen Lo said in a blog post.Lo said the Patent Purchase Promotion is an ...
US, IT, Internet, Google, patent, computers
211
2015-04-27
Monday, 27 Apr 2015 01:04 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved