Pixel Envy

Written by Nick Heer.

Intellectual Ventures Is Running Out of Money

Dan Levine, Reuters:

Intellectual Ventures, a multi-billion-dollar firm that virtually invented a new market for patents and inventions,…

And legal extortion.

…has curtailed its patent buying in the past few months, according to sources familiar with its patent market activity, as it seeks to raise new funds. […]

It is not clear how close IV is to completing its new fund, or which type of investors might participate. Microsoft Corp, an early IV backer, has not invested in IV’s new fund “at this time,” spokeswoman Jennifer Crider said.

Google Inc, an early investor that in recent years has found itself opposed to IV in the patent policy debate, also said it will not participate.

Hopefully, more companies will be like Google and Microsoft, and deny funding to Intellectual Ventures. Dishonest extortionist behaviour shouldn’t be tolerated.