Google Unveils Patent purchase application

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Google

Google said it might launch an experimental portal that enables patent holders to sell their patents to the company.

Patent holders can inform Google in regards to the patents they’re prepared to sell and the expected worth through the portal, the corporate mentioned on its weblog.

The Patent buy promoting application will stay open from could 8 to could 22, the company stated on Monday.

Google mentioned it’ll let the submitters be aware of of its interest in shopping for their patents by using June 26 and expects to pay the agents by late August.

Patent homeowners promote patents for a lot of causes (such because the wish to raise cash or changes in an organization’s industry direction). Sadly, the standard patent market can from time to time be difficult, particularly for smaller participants who from time to time end up working with patent trolls. Then dangerous issues happen, like lawsuits, numerous wasted effort, and usually bad karma. Rarely does this provide any significant merit to the original patent proprietor.

So as of late we’re asserting the Patent buy advertising as an experiment to cast off friction from the patent market…

Via simplifying the method and having a centred submission window, we can center of attention our efforts into quickly evaluating patent assets and getting responses again to attainable agents speedy. With a bit of luck this may translate into higher experiences for retailers, and eliminate the issues of working with entities corresponding to patent trolls…

We’re at all times looking at methods that may help toughen the patent landscape and make the patent gadget work higher for everybody. We ask everybody to understand that this program is an test (call to mind it like a 20 % venture for Google’s patent legal professionals), but we hope that it proves helpful and supplies nice results to participants.