tech2 News StaffJul 24, 2015 16:44:47 IST
Late in April this year, Google launched a marketplace for companies to sell patents. However, in a new effort, Google is now opening up patents it owns and offering it up for free to startups.
The Patent Purchase Promotion was an experiment to remove friction from the patent market. From May 8, 2015 through May 22, 2015, Google opened a streamlined portal for patent holders to tell Google about patents they’re willing to sell at a price they set. Google then reviewed all the submissions, and informed submitters of their interest in buying patents.
Google is now taking that in another direction. According to a report in the TechCrunch, "Today, the search and mobile giant is expanding that marketplace in the other direction: Google has started a program for startups to give away up to two non-organic patent families off Google, as well as potentially make offers to buy patents from it in the future. It’s tying up the offer with a requirement to join the LOT Network, a cross-company licensing push (others in the group include Dropbox, SAP and Canon) aimed at driving down the number of patent-trolling suits."
If you or your startup is interested, you could get in touch with Google using the following Google Docs.
However, to be eligible for the benefits under the Patent Starter Program, you will have to be among the first 50 startups to apply! If you're quick to do that, you'd also need to have revenues between $500,000 and $20,000,000! You would also need to be a member of the LOT Network.
Once you are through with these requirements, then Google, at its sole discretion would determine the patents that it would hand out. There's a caveat though. According to the Patent Starter Program document, Google says it "will retain a broad, non exclusive license to all divested assets."
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