Google has announced they will be running a special promotion for a couple weeks in May to accept offers from patent holders who are interested in selling their patents. The promotion is described as an “experimental marketplace” for Google to test whether they can process a large influx of offers to buy patents that is easy for patent sellers to use. The end result, according to Google, will be an improved “patent landscape” and a patent system that works better.
Google notes that patent holders may have a variety of reasons for wanting to sell a patent, like raising money or not wanting to deal with a patent after a change in business strategy or direction. One of the problems that Google sees with the current state of the patent market is that patent holders may end up working with a patent troll, especially smaller patent holders who may not be well-versed with market players. When patent trolls get their hands on a patent, bad things can happen like lawsuits and lots of wasted effort and resources in battling patent trolls.
Google will be making a special form available starting on May 8th and lasting through May 22nd. Patent holders can use that form to describe the patent they hold and the price they are seeking for the patent. Google says they expect to be able to review all submissions by June 26th and close any transactions with payments to the patent holders by late August.
Google notes that there is a lot of fine print that goes along with selling a patent and they encourage patent holders to speak with their own attorneys if they are interested in submitting an offer to sell. Google also reserves the right to not complete a transaction for any reason.
source: Google Public Policy Blog
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