Do you have a patent you want to sell? Want to sell it to one of the biggest companies in the world? You might have a partner in Google.
How to Participate
Through May 22, Google is buying patents through an experimental Patent Purchase Promotion. The transaction process is simple. Patent owners go to this site, fill out some forms, name their price, then wait to hear from Google, who will finalize the form assignment agreement and wire the asking price, if it is interested.
Here's how it works.
Why is Google doing this?
- Google is only buying one patent at a time. If you have more than one patent you want to sell, you need to complete the form multiple times.
- Google is only interested in US patents for now.
- Google is not interested in your patent if you/your company share ownership in the patent.
- Your patent cannot be subject to litigation, encumbrances, etc.
- You must have the authority to sell the patent.
- You must provide an asking price.
- All terms in Google's Patent Purchase Agreement are nonnegotiable.
- You will retain a license back to your patent. The license is “irrevocable, nonexclusive, nontransferable, nonassignable (including by operation of law or otherwise), nonsublicensable, worldwide, [and] fully paid up.”
- Google will let you know by June 26, 2015 if it tentatively accepts your offer and if it does, it will request more information from you.
- Upon finalization of the agreement, Google will wire the asking price amount to you.