US based semiconductor manufacturer Micron Technology has entered a licensing agreement with Washington-based patent “collector” Intellectual Ventures
This new agreement between the two companies will equip Micron with over 30,000 patents which they can use to defend and develop its intellectual properties.
With this new deal, Micron has joined a series of big brand names such as Samsung, HTC and Research In Motion to enter into a patent licensing agreement with Intellectual Ventures.
Intellectual Ventures is a private company that currently possesses one of the largest patent collections in the world. Their business model is to create an ever-expanding, enormous patent-portfolio and license those patents to companies. Some critics have accused Intellectual Ventures of being a patent troll.
Intellectual Ventures defend itself against these allegations by saying all it intends to do is help out small inventors and create a more fluid and invention-friendly market.
"Building on Micron's extensive patent portfolio, this transaction provides Micron strategic access to IV's substantial patent portfolio to help drive future innovation and continued expansion of our award-winning products and leading-edge technologies in addition to opportunities to advance our intellectual property strategies," said Rod Lewis, Micron's vice president of legal affairs and general counsel, in a press release on PR Newswire.