Latest Round Of Patent-Buying Program Nets $3M In Deals

Law360 (January 24, 2019, 1:02 PM EST) -- A consortium of companies that buys patents on behalf of its members, including Google and Uber, has spent $3 million on patents for software services, artificial intelligence, virtual reality and more in the latest and "most successful" round of its patent-buying program, the association said Thursday.

The Industry Patent Purchase Program, or IP3, which was created by Allied Security Trust — as the group of companies is known — generated more than 30 different patent deals for tech companies like Cisco Systems Inc., Google LLC, Honda Motor Co. Inc., IBM Corp., Intel Corp., Microsoft Corp. and Uber Technologies Inc., with purchase prices...

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