A coalition of companies that includes Google, HP, Cisco and Verizon has banded together to form the Allied Security Trust to fight patent trolls, reports PC Pro. The group will buy key intellectual property before other parties nab it to launch lawsuits.
ZDNet blogger Larry Dignan says The Wall Street Journal is reporting that companies can join the group for a fee of $250,000, plus $5 million for an escrow that will fund future patent purchases.
New.com Blogger Matt Asay says the effort is to be applauded. Dignan agrees, but says "patent reform may be a better avenue in the long run."