A group of major patent-owning companies - Google, Microsoft, IBM, Ford, Apple, Cisco and Facebook among them - have banded together to form the Industry Patent Purchase Program – or IP3 – providing patent owners with a streamlined way of selling their IP. The new initiative has been developed in conjunction with AST which will play the central role in administering the project. In effect it is the second iteration of Google’s Patent Purchase Promotion, which the search giant launched last summer and which saw it buy up a number of patents in a price range of $3,000 to $250,000.

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