Google Announcement: Search Engine Giant Is Giving Away Patents
Vinay Patel | | Jul 28, 2015 08:27 AM EDT |
(Photo : Reuters) In line with Google's vision of promoting innovation within and outside the company, the technology firm had initiated the Google Patents program where it is offering students and entrepreneurs alike to seek recognition for their work by minimizing the complexity of registering for patents.
In line with Google's vision of promoting innovation within and outside the company, the technology firm had initiated the Google Patents program where it is offering students and entrepreneurs alike to seek recognition for their work by minimizing the complexity of registering for patents. The new option that Google is offering will give people a chance to choose from two options that it feels best suits a startup.
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According to ZD Net, Google has confirmed that it will introduce a new update in its patent program. As per this new update, Google will offer entrepreneurs and startups a chance to choose from two patent families. In this, they have to choose from a selection of three to five choices to which they think best applies to the startup venture. The new program being initiated by Google is in support with LOT Network. The aim of this new program is to prevent patent troll litigation issues that are most likely to occur at a later stage.
The members who will be protected as part of this program are SAP, Uber, Dropbox, GitHub, Mazda, Redhat, Canon, and others. As part of the protection, members will receive a license that will ensure that they are safeguarded, each time a patent is transferred out of the LOT network.
The LOT Network currently holds three hundred and twenty five thousand patents. The cost of this membership is being pegged between $1,500 to $2,000; however, this fee is specifically based on the company's annual revenue.
This move is also expected to promote more technology companies to join the group and seek patent protection. As of now, Google patent families are accessible only to those who agree to pay the membership fee. For startups, the membership fee will be waived for the first two years, giving them a chance to stabilize their revenues.
Another report on Engadget indicates that the deal will give the first 50 eligible startups an access to the company's non-organic patent portal. Even the free patent has some extra rules, one of which says that those opting out of the program in less than two years will put the patent's back in Google's kitty.
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