Google has launched an experimental portal that allows interested patent holders to sell their patents to the company.
“Hopefully this will translate into better experiences for sellers, and remove the complications of working with entities such as patent trolls,” Lo wrote.
“Unfortunately, the usual patent marketplace can sometimes be challenging, especially for smaller participants who sometimes end up working with patent trolls. 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 Patent Purchase Promotion program will remain open from May 8 to May 22, the company said on Monday.
Google is limiting the project to US patents and holders with a US tax identification number.
Google said it will let the submitters know of its interest in buying their patents by June 26 and expects to pay the sellers by late August.
More detailed information about the Patent Purchase Promotion is available on Patent Website.
