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Patents go towards a mobile firm who recent merged with a well-known patent troll whose already sued Google once

How much do 500 patents covering complex third and fourth generation wireless algorithms and hardware go for these days?  The answer, for cash-strapped Finnish phonemaker Nokia Oyj. (HEX:NOK1V) is apparently $22M USD.

Nokia sold the patents to Vringo.  Vringo was founded in 2006 as a mobile software firm, and has specialized in delivering content to mobile devices.  However, in 2012 it switched gears, merging with Innovate/Protect Inc. a notorious patent monger/non-practicing entity (NPE). That company in 2011 successfully sued Google Inc. (GOOG), AOL, IAC/InterActive Corp. (IACI), Gannett Comp. (GCI), and Target Corp. (TGT), among others, using a pair of patents acquired from near-defunct search site Lycos.

Of the 500 patents handed to the "troll", 109 are U.S. patents.  And just to eliminate any ambiguity, Vringo said it was eager to soon start on a campaign of lawsuits and forced licensing.

The NPE estimates it could make $31.2M USD from Nokia's patents, almost a 50 percent return on its investment.

Nokia has a history of being a chaotic-bringer in the world of intellectual property.  The company personally started the mobile patent war by suing Apple, Inc. (AAPL) in 2009, eventually reaching a favorable settlement.  More recently it has transferred some patents (at no charge) to affiliated non-practicing entities (trolls) to sue its smartphone rivals.

Given the filing dates, Vringo says the patents should be good for another 6.7 years, on average.

One of the U.S. foremost senior intellectual property experts -- Judge Richard A. Posner, a sitting judge on the Seventh Circuit Court of Appeals who occasionally moonlights as a judge in Chicago's U.S. District Court, Northern District of Illinois -- recently declared that the U.S. intellectual property system was "broken", singling out non-practicing entities and junk software patents as signs of its demise.

Source: The Wall Street Journal

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This article is over a month old, voting and posting comments is disabled

By joebrooks on 8/9/2012 11:41:48 PM , Rating: 0
There are more typos and grammatical mistakes on DailyTech articles than any website I've ever read. It really makes the site seem amateurish when no one ever proofreads anything.

RE: Jesus.
By Daneel_ on 8/10/2012 2:48:11 AM , Rating: 4
Please '6' this.

The stories are generally decent, which is why I still come here, but the lack of proofing severely detracts from the professionalism of the site.

RE: Jesus.
By TakinYourPoints on 8/10/12, Rating: 0
RE: Jesus.
By whitt107 on 8/10/2012 3:49:10 PM , Rating: 2
but... but... then there would be no typos to make fun of... :(

Yeah, it's difficult to take dailytech as a serious professional news site with articles filled with so many errors.

(ok, and I'm sure there's many errors in what I wrote but this is a comment post...)

RE: Jesus.
By anactoraaron on 8/10/2012 8:50:29 AM , Rating: 5
Who still reads the articles? I only read the comments. Reading the articles gives me migraines - especially ones written by Tiffany.

RE: Jesus.
By TakinYourPoints on 8/10/12, Rating: 0
RE: Jesus.
By joebrooks on 8/10/2012 8:43:12 PM , Rating: 2
Lol. The only reason I chose bring this up here is because there are two errors in the very first sentence, and I had to re-read it two or three times to identify them. Made me not want to bother with the rest of the article.

"Google fired a shot heard 'round the world, and now a second American company has answered the call to defend the rights of the Chinese people." -- Rep. Christopher H. Smith (R-N.J.)

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