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Playing Defense, Nest Enters Patent-Licensing Agreement With Intellectual Ventures

The smart thermostat maker will have access to more than 40,000 active patents.

Playing Defense, Nest Enters Patent-Licensing Agreement With Intellectual Ventures

Nest is striking back. The smart thermostat maker, which has been battling Honeywell’s claims of patent infringement, entered a licensing agreement Tuesday that grants it non-exclusive rights to Intellectual Ventures’s patent portfolio.

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The deal, largely a defensive one, gives Nest access to Intellectual Ventures’ IP for Defense program, which will provide the company with access to more than 40,000 active patents. Having acquired about 200 patents globally, Nest also announced that it is actively obtaining patents related to automatic device registration. Earlier this year, the company raised $80 million, bolstering its valuation to a reported $800 million.

[Image: Nest]

About the author

Based in San Francisco, Alice Truong is Fast Company's West Coast correspondent. She previously reported in Chicago, Washington D.C., New York and most recently Hong Kong, where she (left her heart and) worked as a reporter for the Wall Street Journal.

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