Adam Berry, Getty Images
Industryweek 8670 042815 Google Online Marketplace Patents
Industryweek 8670 042815 Google Online Marketplace Patents
Industryweek 8670 042815 Google Online Marketplace Patents
Industryweek 8670 042815 Google Online Marketplace Patents
Industryweek 8670 042815 Google Online Marketplace Patents

Google: 'Sell Us Your Patents'

April 28, 2015
Tech giant sets up online marketplace for US patent holders to potentially sell in May.

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 wrote in a blog post.

Lo wrote that 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 wrote. “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 U.S. patents and holders with a U.S. tax identification number.

Copyright Agence France-Presse, 2015

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!