Read more Google bids $900 million for Nortel's patent portfolio (p.s., it didn't win) Google Inc. has an undeniably massive war chest for just about anything it wants. Now it's setting its sights on Nortel Networks Corp.'s patent portfolio. Google said it's bidding $900 million for the bankrupt company's patent portfolio. While Google continues to argue for patent law reform, it's also mindful of how the law often works today. "The patent system should reward those who create the most useful innovations for society, not those who stake bogus claims or file dubious lawsuits," Google's SVP and general counsel Kent Walker wrote in a blog post today. "But as things stand today, one of a company's best defenses against this kind of litigation is (ironically) to have a formidable patent portfolio, as this helps maintain your freedom to develop new products and services. … Read more LightSquared: We're on track! Really!