Justice Department to Keep Its Eye On Nortel Patent Auction
The U.S. Department of Justice plans to overlook the bidding process for a huge number of patents held by Nortel. Nortel, which went bankrupt, has been auctioning off pieces of its business units since 2009. One of the last remaining pieces contains 6,000 patents pertaining to Long Term Evolution, Wi-Fi, social networking, and wireless video. Google has already submitted a $900 million stalking horse bid for the patents. Apple and RIM are also interested in the patents. The reason this auction has caught the Justice Department's eye is because the firm that wins the patents could "hobble" competitors, according to sources cited by the Wall Street Journal. In particular, the Justice Department has conducted talks with Apple concerning the patents because it considers Apple to be litigious when it comes to intellectual property rights. The auction is scheduled for June 20.
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