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Nokia Get USD 22 Million From Sale of 500 Patents

Posted on the 24 August 2012 by Hpmurah2u @hpmurah2u
nokia 500 patent
Nokia has received $ 22 million from Vringo on their sale of 500 patents. Some of the intellectual property being sold includes technology 2G, 3G and 4G. Vringo has mobile patent portfolio licenses sold for technology companies. From the 500 patents, 109 of which were published in the United States. As part of the deal, Nokia will continue to be able to use patents owned.
After the income generated by patents exceeds $ 22 million, Nokia will be entitled to receive a share of 35% of the revenue generated by Vringo through these patents. Money of $ 22 million will be paid to Nokia later than 14 September and to fund the deal Vringo will sell 9.6 million shares of his own. The agreement is quite beneficial for Nokia, since last 1 year the Finnish company suffered considerable losses, and cash of $ 22 million from the sale of patents plus 35% of profits on patents is a wise step chosen by Nokia.
origin source PhoneArena

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