In an effort to stomp out frivolous patent trolls, Google and Verizon have agreed on a global agreement on several patents, giving the companies access to each other’s patented technologies. The deal was first announced by Verizon in an official blog post on their site.
“The Constitution says that the patent system is supposed to “promote the Progress of Science and useful Arts.” But in high-tech industries like ours, the patent system can be exploited to get in the way of innovation,” reads the post. It continues on to lambaste the current status of the patent system in the US and the trolls that frequently take advantage of its many loopholes to extort larger companies like themselves out of millions in pointless lawsuits.
Verizon and Google’s plan with this deal is to reduce the amount of patents that these trolls can use against them. By uniting the two large company’s patent portfolios and lowering the surface area within which patent trolls can attack, they hope that it will mean less pointless lawsuits, and less millions thrown down the drain. As Verizon put it in their post, “Johnny-come-lately owner of a single patent can threaten an entire innovative ecosystem.”
Check out Verizon’s full post at the source link below, and let us know what you think in the comments below or on social media.[button link=”http://publicpolicy.verizon.com/blog/entry/verizon-signs-patent-licensing-deal-with-google-to-promote-innovation” icon=”fa-external-link” side=”left” target=”blank” color=”285b5e” textcolor=”ffffff”]Source: Verizon[/button]
Last Updated on November 27, 2018.