According to Wall Street Journal report, prominent IT companies like Google, Verizon Communications, Cisco Systems are planning to purchase “intellectual property” as soon as possible, so that others cannot utilize it against them.
The aim of the alliance is to neutralize both “patent trolls” as well as aggressive companies like Rambus and Qualcomm.
The term 'patent troll' is used for those companies which hold patents particularly to try to take out profits through litigation, while not distributing or manufacturing any systems or devices that actually engage the patents.
The Wall Street Journal also says that efforts to guard companies against the future patent litigation have been made earlier as well and Nathan Myhrvold’s received great support from several IT firms regarding its Intellectual Venture.
Myhrvold's company purchases technologies and later on licenses them.
Nevertheless, IT sector is apprehensive that despite the assurances, Intellectual Ventures might itself turn out to be a patent troll and possibly utilize its assets to litigate.