Nokia Sells 500 Patents for $22M USD, Buyer Plans to Start Suing Soon
August 9, 2012 9:46 PM
comment(s) - last by
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
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RE: Death to Nokia
8/10/2012 10:43:50 AM
Yeah hows that Windows Phone working out for ya there lol.
Hmmm do I appeal to 60% of the market and go with Android, or 2% and go with Windows Phone...
RE: Death to Nokia
8/10/2012 10:51:27 AM
There is some reason behind that: huge risk, huge potential gain. However, they went all in and more than a year later have very little to show in return.
RE: Death to Nokia
8/11/2012 7:33:20 PM
I probably would have bought one if Verizon carried the Lumia 900. If they were Android phones they'd sell just about as poorly. If you're not Samsung, you're probably not making a ton of money off selling Android handsets. Just like RIM, if they started selling me too Android handsets with (phanspeak) "not enoguh cores LOLOLOL" nobody would want them.
"We can't expect users to use common sense. That would eliminate the need for all sorts of legislation, committees, oversight and lawyers." -- Christopher Jennings
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