Google has announced a new program that aims to keep good patents out of the hands of patent trolls. The Patent Purchase Program is an experiment by the company that aims to simplify the patent market and help small participants. It works like this: between May 8 and May 22, Google will open a portal that will allow patent holders to describe a patent they’re willing to sell at a price that they set. After that, Google will review the submissions and, by June 26, itwill let the patent holders know if the company is interested in purchasing their patent or not. If Google is interested, there’ll be some more proceedings and if all goes well, Google aims to have all of the sellers paid by late August.
The patent market is an unpleasant place and can be exceptionally difficult for individuals or small companies to navigate. With patent trolls representing such a large problem, Google is hoping to keep some of the worthwhile patents out of the hands of patent trolls. It’s unclear what the company will do with the patents, but it will likely either work to develop new products with them or license them to either companies that will use them.
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