The tech giant is looking to buy out a spectrum of patents to help to stabilize that marketplace.
Google is hoping to be able to help to stabilize the current issues that are occurring within the U.S. Patent system, particularly when it comes to the damage patent trolls are doing to innovation and the progress of technology.
In this effort, the company is making technology news by considering purchasing patents to protect creators.
The U.S. Patent Market is now inundated with those so-called patent trolls, which are shell corporations located around the globe that force actual patent holders into lengthy, costly litigation that typically end up in expensive settlements. That behavior is, according to Google (and many others) holding back the progress in innovation in the United States. Those who would innovate simply don’t find it worthwhile to do so, anymore, as any money they could potentially earn from their efforts would end up paying off costly lawsuits.
Google’s plan of attack against the patent trolls is a new program that is called the Patent Purchase Promotion.
Technology news reports are indicating that through this program, Google will be purchasing patents simply in order to make sure that trolls won’t be able to get their claws into them and use legal loopholes and lawsuits to earn money.
The deputy general counsel for patents at Google, Allen Lo, explained on the company’s blog that “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.”
Within this initial phase of the program, Google is hoping to keep the entire process quite basic. Owners of patents can submit proposals to the company as of May 8 and can continue to do so until May 22. Google will the conduct an evaluation and by the 26th of June, each of the patent holders will be contacted. Should the company wish to make a purchase to protect the rights against patent trolls, the payment for it will be made and complete by the close of August 2015 via ACH bank transfer.