Patent Bidding
Date: 6/23/2011
http://online.wsj.com/article/SB10001424052702303339904576404142767471616.html
By BRENT KENDALL And THOMAS CATAN
WASHINGTON—Apple Inc. has received antitrust clearance to bid on a trove of high-tech patents that are being sold next week by Canadian telecommunications-equipment maker Nortel Networks Corp.
Apple's clearance was noted in a list of approved transactions released Thursday by the Federal Trade Commission. The Justice Department has been examining potential bids on the patents for possible harms to competition, according to people familiar with the matter.
Another bidder, Google Inc. received U.S. antitrust clearance last week, according to people familiar with matter.
The auction, part of Ontario-based Nortel's bankruptcy process in Delaware and Canada, is set to take place Monday and has sent ripples through the technology sector. Many in the tech world are concerned that the winning bidder could potentially abuse the patents to hobble rivals.
Nortel's trove contains some 6,000 patents spanning key portions of the modern world, including wireless video, Wi-Fi, Internet search and a next-generation mobile-data technology now being adopted by carriers, known as LTE.
Apple didn't respond to a request for comment.
- - Prosecute, Prosecute, Prosecute 'em ALL!
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