Is your patent portfolio looking a little dusty? Google will slide you some cash for any patents that catch the company’s eye. You just submit via its portal and let the company take a look.
“Patent owners sell patents for numerous reasons (such as the need to raise money or changes in a company’s business direction). Unfortunately, the usual patent marketplace can sometimes be challenging, especially for smaller participants who sometimes end up working with patent trolls. Then bad things happen, like lawsuits, lots of wasted effort, and generally bad karma. Rarely does this provide any meaningful benefit to the original patent owner.”
Sure, but let’s be real. Google gets to select the patents it wants. This will undoubtedly be helpful in the future, in the event of future patent litigation. All under the guise of it’s helping combat the patent trolls.
If you’re interested in offloading your patent, the window of opportunity is small. Google will be opening the portal on May 8, and shutting it down on May 22.
You will know if Google is interested in buying your patent by June 26, 2015. The company predicts all deals from its patent experiment will close by late August.
The entire program is dubbed an ‘experiment’ so Google can keep its options open – further windows or changes to the program. The announcement post calls it a ‘20 percent project for its patent lawyers.’
What do you think? It’s a win-win for Google. It creates a centralized area for the patent division to comb through for any diamonds. For the owner, they get an opportunity to sell something to Google.
For some garage inventors, that’s damn cool to begin with.
Perception wise? It’s hard to believe a lawyer saying Google is looking to ‘do the right thing’ and combat the rampant patent trolls in the legal system.
Just be up front. You want a virtual garage sale of patents to browse through. Not everything has to be watered down to make us think you’re ‘doing right’ by the people. It’s business.
Somewhere, George Foreman is rethinking his deal with InventHelp.