Yahoo has distributed letters to potential buyers to launch an auction for its portfolio of 3,000 patents that could earn more than $1 billion. The collection dates back to the company’s 1996 IPO, including its original search tech, say those familiar with the plans. “Yahoo has set a mid-June deadline for preliminary bids,” reports The Wall Street Journal, “and hired Black Stone IP, a boutique investment bank that specializes in patent sales, to run the auction.” Yahoo confirmed the sale of patents and pending applications “related to Web search and advertising.” The company is also selling its core Internet business; Verizon reportedly bid about $3 billion. Continue reading Yahoo Plans for Auction of Patent Portfolio, Lines Up Buyers

Apple and Google have agreed to drop all lawsuits between the two tech giants. According to a joint statement, there is no cross-licensing agreement as part of the truce, but the companies would work in “some areas of patent reform.” The announcement effectively ends about 20 lawsuits and covers Apple’s patent litigation with Google’s Motorola unit, which started four years ago and Google later inherited when it purchased Motorola Mobility. However, the deal does not affect Apple’s patent litigation against Samsung. Continue reading Apple and Google End Patent Battle, Agree to Work on Reform

In January, PC maker Lenovo announced it would expand its mobile efforts with the proposed acquisition of Google’s Motorola Mobility for $2.9 billion. Now the Chinese company plans to spend $100 million on patents related to 3G and 4G tech from U.S.-based Unwired Planet. Already one of the biggest smartphone vendors in China, Lenovo plans to use the 21 patent families from Unwired Planet to grow its smartphone and mobile business in new markets. Continue reading Lenovo Expands its Mobile Patent Assets with New Purchases

After successful launches of the Nexus 4 and 5 smartphones, Google and LG are creating a new smartwatch which will likely debut at the Google I/O conference in June. Google will be responsible for creating the software and logistical aspects of the product launch, while LG will be in charge of manufacturing the product. Wearable technology continues to generate significant buzz; according to Juniper Research the market will be worth $19 billion by 2018. Continue reading Google and LG Partner on New Smartwatch for June Launch

We recently reported that the Obama administration had vetoed the International Trade Commission’s ban on the import of certain Apple iPhones and iPads, citing concerns of patent holders gaining “undue leverage.” The veto reversed an earlier legal victory for rival Samsung, which suffered another setback on Friday when the ITC ruled that the South Korean manufacturer had violated two of Apple’s patents — and issued an order banning the import of products using Apple’s multitouch features and headphone jack detection. Continue reading ITC Rules in Favor of Apple, Orders Ban on Samsung Devices

News Corp. is planning a social networking expansion of its Wall Street Journal website, which will transform the site into a platform intended for more than simply delivering news. Lex Fenwick, CEO of Dow Jones, described the company’s plans during an investor day earlier this week. The focal point of the platform is a feature called WSJ Profile, which allows users to post what is essentially a digital resume and features social functions that could compete with LinkedIn. Continue reading News Corp. to Launch Social Network for Wall Street Journal