Tech giants are teaming up in defense against potential
patent-infringement lawsuits, the Wall Street Journal said on
Sunday, citing people familiar with the matter.
The companies plan to buy up key intellectual property before
it falls into the hands of parties that could use it against
them, the paper said.
The paper's sources said the companies, which include Verizon
Communications Inc , Google Inc , Cisco Systems Inc ,
Hewlett-Packard Co and Ericsson , are believed to have a joined
a group calling itself the Allied Security Trust.
The companies will pay roughly $250,000 to join the group and
will each put about $5 million into escrow with the
organization to go toward future patent purchases, the paper