Panasonic Corp. has unloaded thousands of patents to a licensing company that aims to strike deals with other companies to license the technology.
Dominion Harbor Enterprises LLC purchased 3474 patents from the Japanese electronics maker, Dominion Harbor Chief Executive David Pridham told Bloomberg Law Oct. 15. Pridham said it was a cash deal but the financial details are confidential.
“The plan is to start discussing this portfolio with prospective licensees immediately,” 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, Pridham said. They provide patent rights in the U.S., 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 1200 display technology patents from Japanese technology company NEC Corp. and nearly 1000 financial services-related patents from American Express Co. earlier this year.
Dominion Harbor subsidiary Sovereign Peak Ventures will market the former Panasonic patents to companies that could license them, Dominion Harbor said in a statement Oct. 15.
Last year, Dominion Harbor acquired over 1,000 groups of patents, formerly owned by Eastman Kodak Co. and covering digital imaging technology.— Bloomberg Law