Apple along with other tech giant companies sold off their smartphone patents for $900 million to clearing house, the new owner of these patents announced it on Tuesday.
The Apple led Rockstar Consortium which also includes Microsoft, Blackberry, Ericssion and Sony sold their patents, which are initially purchased at $4.5 billion four years ago to RPX Corp based at San Francisco. IT is probable that 30 many companies like Google, Cisco systems will be licensed by RDX for the patent rights.
This deal should close off few lawsuits instantly which were regarding the basic smartphone features such as navigating through documents, data networking, internet access etc.
“Today’s announcement is good news for our industry as it demonstrates our patent system working to promote innovation,” said Erich Andersen, vice president and deputy general counsel of Microsoft. He also added that Joining the Rockstar would give them broad access to Nortel patent portfolio and he seems to be pleased with the goal which he accomplished through this sale and their valuable licenses sold.
Companies like Google and Blackberry Didn’t comment anything on this issue and Apple , Ericson ,Sony did not respond immediately for the comment request.
This might be the indication for their deviation for the patent law. These patent rights are what keeping companies still in the market. These rights for a patent will typically make them stronger than their competitors. Rockstar took over the portfolio of patents from Nortel networks in 2011 which was bankrupt winning their bid over Google. The consortium filed the suit against companies like Google, Samsung, Huawei and HTC in 2013 which is later resolved under terms which are not specified.