Microsoft has sought to avoid further intellectual property litigation (as the defendant, at least) by licensing some 74 patents from an IP holding company named Acacia Research Corporation. The company holds the rights to license a variety of what it calls “foundational” smartphone patents, most significantly those held by Japanese developer Access Co. Ltd., which picked up the entire portfolio of PalmSource IP (including the now-retired Palm OS) when it acquired the Palm spin-off back in 2005.

Acacia is also involved in litigation with Apple, RIM, Samsung, and Motorola regarding many of the same patents, which Microsoft says it licensed in order to “provide our partners and customers peace-of-mind,” according to an executive quoted by the Wall Street Journal. For its part, Microsoft is the plaintiff in a recently-filed suit against Motorola, whose Motorola Mobility division is busy suing Apple — who in turn has filed somewhat of a proxy suit against Google by way of HTC.

These are magical times we live in, people.

(via: Reuters and The Wall Street Journal)