Apple Inc. has declined joining Intellectual Ventures (IV) for a patent trolling business. Intellectual Ventures has been looking to expand its operations but failed to tag along Apple, reported Gigaom.
A report from Reuters said that Apple did not approve the invitation of IV. The invitation expressed the interest of IV for Apple to join alongside with other investors including Microsoft and Sony for the patent purchase fund. IV said that it would use the funds it would receive to pay for licensing fees and possible lawsuits it would file against other firms, reported Gigaom.
The news came after the US Congress announced drafting a new law, Innovation Act, directed towards halting abuse on patent. The Act was said to stop patent trolls in getting prospects as they would have to pay court proceedings, if a case would be filed.
The proposed act has been aiming for patent trolls, reported Gigaom. Intellectual Ventures is no exception after it has given thousands of old firms with old patents in the past years.
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