Now, Patents for Rent - by Google and Intertrust
Google and Intertrust have effectively found a way to make even more money from their patents.
The 2 companies have launched a program called the patent shield which basically allow startups to join the program in exchange of equity in their business.
This allows startups to be protected from being sued by other players, let’s say Apple, Microsoft and co, but also allows these startups to take out small competition if they are infringing on these patents.
Here’s some of the interesting Question/Answers found on the program site:
How do I join PatentShield? Startups wishing to join PatentShield meet with Intertrust’s venture selection committee. We will review your business plan and assess the joint opportunity. If you are selected, you will be asked to provide PatentShield with a small amount of equity – just like to a new investor and you’re in. At this point, PatentShield is not available for a monetary subscription and is only available for equity – if you are selected, we believe in you and want to grow with you. As part of PatentShield, you also get general advisory services on IP strategy and we will help you grow your business as part of our venture family.
If I get sued, do I get to choose the patents to use from the defensive portfolio? Yes, your selection from the portfolio is under your control. We will provide assistance where possible to identify the best patents to fit your specific instance – however, the decision as to which patents you ultimately select lies with you.
Do I have control of the patents that I acquire through PatentShield? Yes. As part of the assignment process, full rights of ownership in the patents is transferred to your company so that you may use them in the courts to defend against your attacker.
