New patent-holder grabs Nokia patents, sues over Apple iPhones

(credit: Artur Debat / Getty Images)

A patent-holding company that stands to win 12.5 cents for every iPhone sold has filed a new lawsuit (PDF) against Apple.

Ironworks Patents LLC is a patent-enforcement company formed earlier this year, with no apparent business other than filing lawsuits over patents. It's a business model that's now decades old, and companies that engage in it are often derided as "patent trolls."

Yet Ironworks isn't your everyday patent enforcer. The company has inherited a patent portfolio belonging to MobileMedia Ideas LLC, which has already proven its value. MobileMedia Ideas was a kind of "corporate troll," majority-owned by a patent pool called MPEG-LA. Minority stakes in MobileMedia were owned by Sony and Nokia, who also provided patents that could be used in lawsuits against other tech companies.

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