Google, Microsoft, Oracle and Uber all back new AST patent buying initiative
Defensive patent operator AST has recently completed a new “buy-it-now” patent acquisition programme which saw a small group of its members including Google, Microsoft, Oracle and Uber acquire a group of assets for $1 million.
Unlike the annual IP3 programme, which is open to all rights holders looking to sell assets, the buy-it-now initiative saw AST invite a group of 40 patent owners to take part, submit IP for sale and to name their price. The assets were identified in AST’s standard purchasing programme and deemed to be of potential interest to its members.
From that initial 40, 37 owners agreed to submit their IP for consideration with that total then whittled down further based on additional due diligence and on whether there was sufficient interest from members. The programme was launched at the start of March and concluded at the end of April when the participating companies voted via Zoom on which lots to purchase.
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