Google Wants to Purchase Your Patents
Posted on May 5, 2015 in Blog
If you own a U.S. patent and would consider selling it, Google has instituted an experimental “Patent Purchase Promotion” from May 8 – May 22, 2015. During this “open period”, patentees can submit a Patent Order Submission Form for each patent (one per patent), which allows the patentee to describe his/her patent , along with the offer price to sell it to Google. Google will then evaluate your patent during a review period (May 23 –June 26, 2015). Participants will be notified by June 26, 2015 whether Google is interested in purchasing their patent. If Google is interested, the patentee will then be given until July 8, 2015 to provide Google with a signed form-purchase agreement, which also specifies that there are no encumbrances on the patent, along with tax-related information and transactional information for supporting the purchase of the patent. After review of this signed agreement and the additional information, if Google remains interested, it will return a fully-executed agreement no later than July 22, 2015 with payment for purchase of the patent occurring within 30 business days thereafter.
Eligible patents must be active U.S. patents that have not expired and are not design patents. The patent cannot be the subject of any terminal disclaimer, which means the term of the patent cannot be linked to the term of another patent.
To learn more about this experimental program and/or to obtain the Patent Order Submission Form and Patent Purchase Agreement, please visit:
Or, you can contact us, if you have any further questions or would like our assistance with participating in the promotion.
– by Scott Slomowitz