Anyone following the news recently will know that the murky world of patents seems to be getting murkier. For instance, it is not exactly news that Apple and Samsung are pretty much in a permanent state of perpetual patent suing. However, more recently, the news of various patent trolls has been emerging. These trolls are those who do not actually own any manufactured products, but instead essentially look to recoup some sort of ‘rent’ from those who use patents that they own or have managed to acquire. In the U.S. in particular, patent trolls taking individuals, groups or organisations to court to collect after-the-fact fees is becoming much more widespread.
So for those who currently own a patent, it seems what to do with that patent is increasingly becoming more of a complex and minefield like experience. Of course, you could always simply sell your patent to Google. That is because Google today announced the launch of what they have dubbed the ‘Patent Purchase Promotion’. In short, and according to the Google description (source link below) the Patent Purchase Promotion is a marketplace for those wishing to do something with their patent in a way “that’s simple, easy to use, and fast“. According to Google, the Patent Purchase Promotion is an experiment designed to see if the “friction” from dealing with patents can be avoided. Not to mention, it is probably a good way for the Mountain View company to pick up a few extra patents too.
Either way, if this sounds like something you might be interested in, then there are a few details to take note of. Firstly, it seems the “promotion” will only be running for a set period. In fact, the door for submissions will open on May 8th and close again on May 22nd, 2015. As such, you will only have a couple of weeks to submit your patent to Google. After the closing date, Google advise that they will review the patent submissions and owners of the patents that they are interested in purchasing, will be notified by June 26th, 2015. If you are worried about the murky aspects of patent selling, then Google also advise they will assist in helping to make the process a quick one and even suggesting patents purchased will be paid for by the end of August of this year. That said, this is business and Google do make one point very clear and one you should be aware of, if you are thinking of taking part “There’s some fine print that you absolutely want to make sure you fully understand before participating, and we encourage participants to speak with an attorney“. What is rather interesting, is Google state that those wishing to sell their patents and who submit to the promotion can set their own price that they are happy to sell for. So it seems, it is up to you. You decide what you would be happy with, submit the price along with the details of the patent and if Google are happy, you have made a sale. For those interested, you can either click here to head over to the main Promotion/Submission page (although remember, submissions cannot be made until May 8th) or alternatively click the source link below to read today’s Google blog announcement in full.