Do you have a concept or patent-pending you think you can make a lot of money from? I bet you have some ideas you want to turn into reality but just don’t know how. Allow Google to make your dreams come true and make some money (and probably richer) by selling the Internet giant your patents. You may think that’s a crazy idea for Google to be buying patents but the intention is to “remove friction from the patent market” according to the Mountain View company.
Google has officially launched the Patent Purchase Promotion–an experimental program for different patents that is easy, simply, and fast to use. With this program, Google hopes to receive several patent submissions from May 8 to May 22, 2015. For two weeks, Google will be open to patent owners who want to sell their patents and be reviewed by the company. By June 26, the search giant will let those chosen know Google is interested in purchasing their patents. Of course, the search engine will be giving a premium which will be paid by August.
Google will be carefully but quickly evaluating the patents submitted starting May 23rd. Sellers will be contacted immediately if Google deems a patent is worthy. There will be some legalities discussed so Google is recommending potential patent sellers to consult with lawyers first. Make sure you read the fine print you can find on Google’s Patent website. Form will go live on May 8 but you can already read the details. Read on what will happen if Google buys your patent.
This is just an experimental program from Google. The company hopes the patent landscape will improve after this program. We’re guessing more patent owners will be a few hundreds or thousands of dollars too.
VIA: SlashGear
SOURCE: Google
