Patent trolls get $600 million worth of patents from blackberry

2022-05-25 0 By

Canadian smartphone maker blackberry has sold its traditional patents covering mobile technology to Catapult IP Innovations Inc. for $600 million.The company has disclosed that the sale includes all of its non-core patent assets.According to a report by AppleInsider, blackberry’s move could spell trouble for other smartphone companies like Apple, which could be targeted by patent trolls in the future.Worryingly, the Cupertino giant has been sued multiple times in the past for alleged infringement of blackberry patents, which have now been sold to Catapult IP Innovations Inc., which can be treated as a non-practicing entity (NPE).For those who don’t know, patent troll is a pejorative term used to describe businesses that use patents and the court system to make money.In other words, the company could use patents acquired from the blackberry deal to claim royalties or directly Sue other smartphone makers for patent infringement.Blackberry will receive $450 million in cash, a $150 million promissory note and a license to use the patents.In return, Catapult IP Innovations Inc.Will acquire blackberry patents on mobile devices, messaging and wireless IP.Blackberry made it clear that the sale would not affect customers who use its products or services.The deal is subject to meeting all regulatory conditions under the US Hart-Scott-Rodino Antitrust Improvement Act and the Investment Canada Act, which could take up to 210 days, the company said.For more exciting content, follow Sichuan people in Hong Kong