Patent Purchase Program to Begin Soon
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Want to sell your patent? Several multinational firms including IBM, Facebook, and Ford are participating in a program called the Industry Patent Purchase Program (IP3). It is being run by a non-profit organization called Allied Security Trust.
It is essentially a take it or leave it proposition where the patent owner offers for sale their patent and any of the participating companies have the option of purchasing it. The participating companies are primarily focused in the technology and automotive sectors. The areas innovation in which they are most interested include:
- computers and software;
- consumer electronics;
- communications;
- semiconductor & components;
- healthcare & medical;
- automotive;
- lighting; and
- financial services.
The range of value of any one patent is not certain. However, Google ran a similar program last year and spent between $3,000 and 250,000 on patents with the average price being about $48,000.
The window of opportunity for submitting an offer is between May 25, 2016 through June 8, 2016. The submission form and further details can be found here.
So for any patent owner out there who has had difficulty trying to get the attention of the corporate world, now is your chance.
Capitalizing on innovative developments is critical to any organization. Having the right person to help you make those decisions is important. The Law Office of Kathleen Lynch PLLC is designed to help businesses such as yours keep ahead of the game. The first telephone consultation is free. Email us at klynch@kliplaw.com.