Google’s New Marketplace Invites Sellers to Trade Their Patents
Google aims to get a hold of your exclusive set of rights. The search internet giant announced the same on Monday by stating its plan to establish an online marketplace. The common place will offer talented minds sell their patents to them.
The online meeting spot for Google and patent holders is known as Patent Purchase Promotion and it is an “experimental marketplace for patents that’s simple, easy to use, and fast.”
Allen Lo, the Patent Deputy Counsel of Google mentioned in a blog post –
We invite you to sell us your patents. Today we’re announcing the Patent Purchase Promotion as an experiment to remove friction from the patent market.
The blog post adds that a streamlined portal will be open for patent holders from May 8, 2015 through May 22, 2015, where willing sellers can set a price of their product. On the last date, the submission will close and submitters with valuable patents will be contacted by June 26, 2015. The deal is anticipated to close by late August.
The move will help improve their patent landscape. Also, it will provide better benefits to the original patent owner.
Get more information on Patent Purchase Promotion here.