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Google has announced the launch of an experimental Marketplace that will allow it to purchase patents from businesses and patent holders who are willing to sell patents.
Google has announced the launch of an experimental Marketplace
that will allow it to purchase patents from businesses and patent
holders who are willing to sell patents. Google believes that its
new program of Patent Purchase Promotion will help the company to
eradicate the friction in patent market caused by Patent trolls,
Lawsuits and other wasted efforts.
Google said that the program so launched will be on an
experimental basis and will remain for a short window of time from
May 8, 2015 to May 22,2015.This short duration will lead to a quick
buying from Google. The company said that while buying a patent
from marketplace a due diligence will be done and the transaction
will be closed "in short order" and all the stake holders
will be paid by late August this year through ACH bank
Transfer.
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