Twitter has just bought 900 patents and has signed a cross-licensing agreement with IBM.The company has finally made peace with IBM and increased its intellectual property portfolio. Up until now, Twitter has barely owned a handful of patents, which made it quite difficult for the company to defend its products in court.
Back in November, IBM accused Twitter of infringing three of its patents. Now, however, it seems that they’ve reached an agreement to share the intellectual wealth. The cross-licensing deal should help safeguard Twitter against lawsuits.
IBM has one of the largest collections of patents in the world, holding over 41,000 of them.
“This acquisition of patents from IBM and licensing agreement provide us with greater intellectual property protection and give us freedom of action to innovate on behalf of all those who use our service,” said Ben Lee, Twitter's legal director, in a joint statement with IBM.
Tech companies in the world have a difficult time as patent trolls (companies that only hold these documents so that they can sue others, not to produce anything) pick on everyone to make an extra dollar. There’s currently an ongoing lobbying effort to get the US Congress to reform the inefficient patent law.