TECHNOLOGY - The juggernauts of the tech industry are set to rumble over the final remains of Nortel Networks Corp. At stake is the liquidation of over 6,0000 of Nortel's wireless-related patents, a veritable treasure trove would allow the owners of those patents control specific key markets and shift the balance of power in the mobile communications market.
The auction is set to begin Monday in New York, and everyone is invited. Foreigners are packing in for a chance to snap up patents that could be very valuable in North America and world wide.
Companies bidding include Google Inc., Apple Inc., RPX Corp. (which is fronting 80 smaller corporations which are interested in a share of the patents), Sweden’s Ericsson AB, and many others. Intel Corp. and Research In Motion Ltd. are also expected to make some bids
Google has already filed a “stalking horse” opening bid of $900 million USD for all the patents. That sets the opening bids at $150,000 per patent.
Nortel Networks filed for bankruptcy protection in early 2009, a day before Nortel was to repay an interest obligation on bonds, which would have amounted to a fraction of its cash reserves. Instead the company decided to take its money and run, vowing to sell off much of its property, patents and reorganize as a smaller company. The latter of which never happened. Its questionable whether bond holders will ever get any of their money back. Its possible now that Nortel is selling off their patents.
Depending on how much money is raised from the auction it increases the likelihood that Nortel will be repaying bond holders. Nortel creditors and former employees/pensioners also have their hands out for more of Nortel's money.
Mike Zafirovski took over as Nortel's CEO in 2005 and promptly ran the company into the ground, losing nearly $7 billion.
Nortel’s horde of wireless patents and pending patents include wireless video communication, Wi-Fi, Internet search technology, social networking, and its next generation mobile data technology.
“The winner of this auction will have what amounts to a nuclear arsenal in the war for mobile market share,” says Alexander Poltorak, chief executive of patent licensing firm General Patent Corp.
Patent licensing is a very lucrative business, often including lawsuits against rival companies who infringe upon patents.
Subscribe to:
Post Comments (Atom)
Featured Posts
|
The Sarcasm Symbol
Ever had some confusion online or with your cellphone when someone fails to catch the sarcasm? Well now with the SarcMark you can ge... |
|
Behold, the Scorpion Hydrogen Supercar
CARS - To the right is the future of supercars... it is a hydrogen supercar called the Scorpion. The Scorpion from Ronn Motors in Texas is t... |
|
Documents show Stephen Harper misusing public funds
CANADA - According to 950+ pages of documents obtained by the Canadian Press under the Access to Information Act the Privy Coun... |
|
Pink's Rosie the Riveter
ENTERTAINMENT - What I like about this video is how it meshes different social movements like feminism, veganism, anti-capitalism... |
|
California's Dustbowl
ENVIRONMENT - The photo on the right is a farm in California that has been put up for sale. Its just one of thousands of farms that are n... |
|
Is Steampunk the New Goth???
GOTHIC - Watch out what you see on the subway late at night because while in 2001 you might have seen some pretty freakish goths, by 20... |
|
Do you have enough Ice Water in your diet?
HEALTH - A Calorie (large C) is a measurement of the amount of energy needed to raise the temperature of a litre of water (1 kg's worth) ... |
|
North Korean timeline towards Inevitable War
POLITICS - The following is timeline of events that have occurred on the Korean Peninsula. 1945 - Japan surrenders to the United States a... |
|
Judgment Day is Tomorrow, so sayeth Cult
RELIGION - According to a cult based in California, Judgement Day is tomorrow (May 21st 2011) and Jesus Christ will return to the Earth a... |
|
Sex in Space Forbidden
SEX/TECHNOLOGY - Sex in outer space is a big no-no according to NASA. Not for professional astronauts at least, but the growing numb... |
Popular Posts / Last 30 Days
-
When was the last time you read a poetry book? If you enjoy poetry by Canadian poets do check out Gail M. Murray 's book: Reflections &a... -
CANADA - I am henceforth boycotting Yak Canada and encouraging other people to do the same. A telemarketer from Yak Canada called me on my... -
CARS - Nobody ever steals a pink car. According to a Dutch study which compared the colour of cars being stolen, pink is the safest colour ... -
By Charles Moffat - September 2010. ENTERTAINMENT - Vanilla Coke was first introduced in 2002 and despite widespread popularity and being ... -
CANADA - The following is a list of 10 reasons why Torontonians are considered the rudest city in Canada. The sad part is Toronto may deser... -
CANADA - Even advocates of scrapping the Long Gun Registry are rethinking your convictions now that the RCMP have released a report showing...
-
ENVIRONMENT - Air travel in Europe has practically ground to an halt as ash and chemicals from an erupting volcano in Iceland makes air tra... -
FASHION - Imagine working in a spa as an aesthetician and having a mother phone to order a bikini wax... for her 10 year old daughter. No... -
By Charles Moffat - October 2010. CANADA - If you are looking to buy a home in Toronto, or even Brampton or Mississauga then the prices of... -
CARS - Honda's operations in China are going back to work today after 3 weeks of striking workers demanding a "living wage"....
No comments:
Post a Comment
Comments containing links will be marked as spam and not approved. We moderate every comment. If you want to advertise on this blog it is $30 per link.