Provenance Asset Group Offers Former Nokia Patents for Sale

  • March 8, 2018
  • Category: Patent Market, Patent Watch

Provenance Asset Group LLC has announced the offer for sale of over 1,200 patent families in various lots beginning on March 1. The patents comprise roughly 25% of the assets that Provenance acquired from Nokia last October when the patent licensing company debuted its new business model, billed variously as “patents as a service”, “freedom to operate”, and “patent leasing”. Under the proposed model, a small to mid-sized operating company can acquire—for less than would be required to purchase a portfolio of patents outright—an exclusive license to the assets needed to defend against threats from a larger, incumbent market player. The current sale of assets has been described by Dan McCurdy, the CEO of Provenance, as simply shedding “surplus inventory” to rid the company of the costs associated with maintaining patents not essential to its core business. The sale of these patents through Provenance is not the first time that Nokia patents have been sold to other market players, some of which patents have, not surprisingly, appeared in later litigation.

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