Close on heels to Microsoft and Canon cooperative patent licensing deal, a new deal – “License on Transfer (LOT)” network was formed between Google and Canon. According to this cooperative licensing deal, LOT is going to help limit future infringement claims and when the patents are sold, all the companies in this network would automatically get a royalty free license.
Companies like SAP, Dropbox, Asana, Google are part of this network.
Will the License on Transfer network be a boon for Start-ups to limit their exposure to lawsuits from NPE’s needs to be seen.
So, next time you do a IP Due Diligence watch for LOT Network contracts also, as companies in this network will get a royalty free license when you sell your patent. And be mindful that this network so far covers over 50,000 US patents. LOT network seems to be one solution (alternative) to Patent Assertion problem, to reduce patent infringement claims.
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