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   How do I get rid of unnecessary patents?
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lawstudent07
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Re: How do I get rid of unnecessary patents?
« Reply #5 on: Jun 5th, 2006, 10:12am »
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I've researched IPotential and they seem to have an edge on the market for selling patents. Any information you could provide would be fantastic. This being such a new area, research is difficult to discover. Also, if you have any ideas on where I can get the statistics from the public auction held in April that would be great. I understand that a public auction isn't a good venue right now, but it's difficult to determine if it's attributable to the form or the originality.  Thanks again.
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CriterionD
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Re: How do I get rid of unnecessary patents?
« Reply #6 on: Jun 5th, 2006, 9:02pm »
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just in case it is not known, here is some info regarding the only publicized patent auction that I have ever really been aware of -  
 
http://www.ipww.com/display.php/file=/texts/1005/ocean1005
 
http://static.twoday.net/mahalanobis/files/patents_cfaille.pdf
 
It seems to me though, that the only reason this auction was a success, is that it was publicized enough within a relevant community.
 
I doubt that listing a patent on eBay would garner any kind of success whatsoever, though, who knows, you really never know nowadays.  
 
I’m hardly familiar with Yet2 as well (outside of the fact that they are one of Delphion’s few ‘partners’), but I’m sure it couldn’t hurt to list a patent up for sale on that site.  Better than nothing, at least.
 
Anyways, obviously it would ideally make sense to research and monitor the pertinent market segments for infringers (not only to find opportunities for litigation, but to find opportunities for ‘stick’ licensing), and along the same lines it ideally makes sense to research and monitor the market for companies and other investment firms which might specifically be interested in acquiring certain patents due to their own unique objectives or circumstances.  But the one thing I’ll add to this thread is as follows:
 
The process of determining “what to do” with unused patents here doesn’t necessarily have to be as simple as asking “what is the most amount of money I (or we) can get for each patent.”  For example, say your investment company were to form and publicize its own auction, or were to develop a new program where unused IP was “donated” to interested parties in the ‘spirit of innovation’ (a tax write off could possibly be applicable in this scenario as well, though don’t ask me about that, I know about as much as Google knows).  By taking one or both of these routs the company might not make much money directly from the sale of the IP, but if done correctly and publicized enough it could potentially result in some good PR for the company.  And good PR is worth more than many people get for their unused patents.
 
 
 
« Last Edit: Jun 5th, 2006, 9:10pm by CriterionD » IP Logged

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eric stasik
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Re: How do I get rid of unnecessary patents?
« Reply #7 on: Jun 6th, 2006, 12:25am »
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on Jun 5th, 2006, 9:08am, lawstudent07 wrote:
(posted original message, but having login problems)The patents that we need to get rid of are from companies that no longer exist. I have done some research with arbitrage, however I'm finding that they will only buy patents on limited technologies. Since the patents we have include consumer goods, which venue would be best to market them? Is the internet such as yet2.com a good place?

 
You have received some good answers in this thread.  
 
I will assume that the patents are not being infringed by anyone and that licensing/sales efforts will be all carrot and no stick.  
 
If the patents have any value, like anything else, you will mazimize your own share of it by selling it "by owner" directly to the company who would be most interested in it. Tips: perform a cross-reference and prior-art search to see what other patents reference your patent - and to see what inventions lie close to yours. If the result is promising, engage the services of a professional searcher and cast a wider net. Now you have a (not exhaustive) list of potential buyers who are already obtaining patents. This is a good place to start.
 
Unless you are experienced yourself, engage the services of a licensing professional to help you. Like buying a house it's not actually hard and it doesn't always require one, but the size of the investment makes having a broker in most cases practically necessary if the seller is not an expert. (You pay a broker 7% to make sure you don't sell the house 8% too cheaply - at least that's the theory.) It's the same thing with patents.  
 
It's also a bit harder to sell a patent than a house. yet2.com is not quite the equivalent of an MLS listing.  
unless your patent is a bright, shiny object, it is almost always a difficult sales job and this is where having a patent broker adds the most value. (At least that is what I tell my own clients....)  
 
Apart from direct sales, there have been some (so far failed) attempts to create an equity market for patents. plx-systems was one of the pioneers of this and Ocean Tomo(www.oceantomo.com) is today the most active. They hold bi-annual (IIRC) patent auctions. The most recent one was not a staggering success, but for a start up trying to create and build a market, it was very impressive. At this present moment, however, I am a bit doubtful if this market is sufficiently well-developed to be the best arbitrar of price.  
 
I am not a big believer in yet2.com. If patents were this easy to value and trade, they would be on eBay. Don't get me wrong, yet2.com is a great idea, it's just years (maybe decades) ahead of its time.  
 
I'd go with the direct sales first and see where that leads you. Do your cross-reference search using the USPTO's most excellent search engine and see what the cat drags in.  
 
Other ways to profit from patents is by making a charitable donation (to a university or research foundation, for example) and taking the tax credit. Although the IRS has cracked down on this because of abuse - and the tax credit may be paltry - it may still be a legitimate option worth investigating with your tax attorney.  
 
There are also licensing companies like QED and Via Licensing, but these firms generally have very focused portfolios.  
 
Very important. Make sure that the maintenence fees are being paid or your job will become a bit too easy: the patents will elapse and become totally worthless.  
 
Contact me off-line via my website if you have specific questions.  
 
Good luck,
 
Eric Stasik
 
P.S. (Here is some information about the April auction: http://www.patent08.com/archive.htm#article040806)
 
« Last Edit: Jun 6th, 2006, 12:53am by eric stasik » IP Logged

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Re: How do I get rid of unnecessary patents?
« Reply #8 on: Jun 6th, 2006, 7:51am »
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on Jun 5th, 2006, 10:12am, lawstudent07 wrote:
I've researched IPotential and they seem to have an edge on the market for selling patents. Any information you could provide would be fantastic.

Having worked with IPotential, I sort of know what they're looking for.  Contact me directly (throgh the link in my signature below) and I'll help you sort out your portfolio and put together some sort of presentation to IPotential.
 
Regards.
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lawstudent07
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Re: How do I get rid of unnecessary patents?
« Reply #9 on: Jun 6th, 2006, 8:19am »
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I appreciate the offer however, we're not at that point yet. There are several hundred patents that we need to locate, within the office and within our network. Thank you for all your help.
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