Eleven high-tech companies have joined forces to safeguard themselves from costly patent lawsuits.Allied Security Trust, a nonprofit group that includes Google, Apple, HP and Cisco, plans to buy intellectual property of interest to its member businesses before "patent trolls" can do so. Members pay $250,000 to join Allied and contribute about $5 million, which goes into an escrow account and is used toward patent purchases. Allied will sell the patents it acquires after members have granted themselves a nonexclusive license to the underlying technology.
The group won't face antitrust issues because it doesn't actually own the patents, and because it's nonprofit, said Allied CEO Brian Hinman, a former VP of intellectual property and licensing at IBM.CNN Money, The Wall Street Journal
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.