Nokia Sells 500 Patents for $22M USD, Buyer Plans to Start Suing Soon
August 9, 2012 9:46 PM
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
Finnish phonemaker Nokia Oyj. (
) 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. (
), AOL, IAC/InterActive Corp. (
), Gannett Comp. (
), and Target Corp. (
), 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. (
) 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
, singling out non-practicing entities and junk software patents as signs of its demise.
The Wall Street Journal
"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.)
Nokia Fumbles WinPhone Bid, Q2 Loss Soars, U.S. Sales Stall to 600K
July 19, 2012, 2:07 PM
U.S. Patent System is Broken, Declares Judge in Android v. Apple Cases
July 6, 2012, 1:12 PM
Nokia Tries to Explain Why it Handed Patents to Alleged "Troll"
June 1, 2012, 7:39 PM
Apple to Pay Lump Sum, Royalties in Nokia Patent Settlement
June 14, 2011, 7:38 AM
Google to Pay $5M for Linux Infringements
April 22, 2011, 6:59 PM
The Galaxy C9 Pro Samsung Smartphone Has 6GB RAM
October 24, 2016, 4:29 AM
The Unlocked Moto Z Play Launches for $449.99 Today.
October 22, 2016, 5:00 AM
Nintendo Announced Next Game Machine to be Portable “handheld”.
October 21, 2016, 5:00 AM
Do you hate to do yard work?
October 20, 2016, 5:00 AM
Smart Technology Mood Collar To Understand Your Dog’s Emotions
October 17, 2016, 5:00 AM
iBeat: A heart monitoring smartwatch that can save lives by Monique C. Bethell, Ph.D
October 8, 2016, 10:25 AM
Most Popular Articles
Car Insurance - The Hidden Discriminatory Practise
October 18, 2016, 5:00 AM
Is Razer Blade Stealth Laptop For You?
October 16, 2016, 5:00 AM
Cyber Hackers Threaten Security of Lifesaving Medical Devices
October 19, 2016, 8:09 AM
Excellent Wi-Fi Camera - Panasonic Lumix DMC-FZ300K
October 18, 2016, 5:00 AM
Problems with Windows 10 – Update Now
October 15, 2016, 7:30 AM
Latest Blog Posts
MacBoo Pro 2016: Release date Oct. 27
Oct 24, 2016, 7:16 AM
Mac Users, Try this if Your Mac is Infected?
Oct 23, 2016, 7:00 AM
Tips to Prevent Smartphones From Overheating:
Oct 22, 2016, 5:00 AM
Nasa Flies Drones at Nevada Airport
Oct 21, 2016, 8:21 AM
T-Mobile Data Problems
Oct 20, 2016, 10:17 AM
Annoying Apple Watch Problems and How to Fix Them
Oct 20, 2016, 5:00 AM
Your Mail May Soon Be Delivered By Robot
Oct 19, 2016, 9:34 AM
2018 Jeep Wrangler Prototype Sells At Junkyard
Oct 18, 2016, 5:00 AM
Samsung Shines with Gold Edition Tablet
Oct 17, 2016, 9:24 AM
Tesla Hints Mysterious Product Debut for October 17th
Oct 16, 2016, 10:14 AM
Samsung Galaxy Note 7 Phones on US flights
Oct 15, 2016, 5:00 AM
Comcast Fined $2.3 Million For Unconfirmed Services Charged To Customers
Oct 14, 2016, 5:00 AM
“American singer / songwriter “Bob Dylan is awarded 2016 Nobel Prize in Literature.
Oct 13, 2016, 10:33 AM
Battery Defect in Medical Device
Oct 12, 2016, 5:00 AM
IBM Bolsters Social Services Sector With Technology Grants
Oct 11, 2016, 5:00 AM
Scientists Sound Alarm on Climate but US Still Toys With Skepticism
Oct 10, 2016, 5:00 AM
IMEX America Trade Show
Oct 9, 2016, 10:00 AM
Phone Wars – Google VS Samsung Free Gifts on Purchase
Oct 6, 2016, 5:00 AM
More Blog Posts
Copyright 2016 DailyTech LLC. -
Terms, Conditions & Privacy Information