Tech giants form group to buy patents
Google is part of a group of tech heavyweights going on the offensive against the threat of patent-infringement lawsuits, The Wall Street Journal reported on its Web site Sunday evening.
The group, which calls itself the Allied Security Trust, plans to buy up key intellectual property before it is obtained by parties that might use it against them, the newspaper reported. Joining Google in the group are Verizon Communications, Cisco Systems, Ericsson, and Hewlett-Packard, among others.
Each company will pay about $250,000 to join and then put about $5 million into escrow for future patent purchases, the newspaper reported, … Read more