You Can Sell Your Patents To Google With Patent Purchase Service
Google has announced it is experimenting with a new patent buying service. It is now requesting proposals from companies and individuals who want to sell their patents.
We invite you to sell us your patents.
The service, which is being coined as Patent Purchase Promotion, has been launched to outdo the trolls who take advantage of the complexity of the patenting process and snatch the intellectual property from small companies and inventors who are not aware of the details of the process.
But, this is just the “apparent” reason. The underlying benefit for Google with the Patent Purchase Promotion is that it gets to bag a large pool of patents that can turn out to be constructive for the company once more litigation is rolled out.
However, the window for submitting patents for sale is very short, and interested parties will have to hurry up to get involved as it begins on May 8 and ends on May 22.
Once Google will close the portal, it will review all submissions and confirm to the patent holders whether it is interested in doing a deal with them by June 26 2015.
The company is expecting that it will be done with the process of buying patents and close the final deal by late August.
If we contact you about purchasing your patent, we’ll work through some additional diligence with you and look to close a transaction in short order. We anticipate everyone we transact with getting paid by late August.