PANASONIC has unloaded thousands of patents to a licensing company that aims to strike deals with other companies to license the technology.
Dominion Harbor Enterprises purchased 3,474 patents from the Japanese electronics maker, according to Dominion Harbor CEO David Pridham. He said it was a cash deal but the financial details are confidential. "The plan is to start discussing this portfolio with prospective licensees immediately," Mr Pridham said. "Our goal is to license this portfolio outside of litigation."
The acquisition continues a trend of operating companies shedding patents that aren't core to their business, giving patent-holding firms a chance to buy them and make money through licensing or litigation. The patents cover a wide array of industries, including medical imaging, wearable devices, mobile communications, LED, Wi-Fi, and cloud computing, Mr Pridham said. They provide patent rights in the US, China, Japan, South Korea and Europe, he said.
The Panasonic deal marks Dominion Harbor's third large patent acquisition in 2018. Dominion Harbor purchased more than 1,200 display technology patents from Japanese technology company NEC and nearly 1,000 financial services-related patents from American Express earlier this year. Pictured is Yasuyuki Higuchi, senior managing executive officer of Panasonic.