Nortel Patent Auction Could be Biggest Ever

Nortel telecom was filed of bankruptcy two and half years ago and on Monday it is going to sell its 6000 patent portfolios. The patents deal with technologies used in smart phones, tablets, cellular infrastructure and even social networking. Google has a made its minimum bid for around $900 million other companies who are in bid are Apple, Intel, Ericsson and may be Blackberry too.Google and intel desperately need this bid because they think this is a goldmine for technology advancements.The previous sales made around $3 billion and this sale is expected to cross $1.5 billion. Gottlieb Steen & Hamilton bankruptcy partner Lisa Schweitzer will manage the bankruptcy for Nortel telecom.Apart from prior sales this sales is interesting because the US and Canadian judges will supervise the proceedings accompanied by the UK administrator overseeing it.

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With Cleary Presiding, Nortel Patent Auction Could be Biggest Ever