KR20020009579A - Online patent and license exchange - Google Patents

Abstract

The on-line patent and license exchange of the present invention allows potential licensors and licensees of patents and other intellectual property rights to efficiently and reliably transact IP licenses or transfer agreements, and to ensure that licenses, options, and secured asset cash- The online marketplace is part of the exchange, and the on-line patent and license exchange includes a reliable market value estimation of each IP asset listed on the exchange side, a transaction closing service, a patent insurance service and an escrow service, And an explanation database of IP rights provided for licensing on the exchange.

Description

[0001] ONLINE PATENT AND LICENSE EXCHANGE [0002]

Effective licensing of intellectual property (IP) rights, in particular patent rights, is the only requirement due to the complexity of the law governing the acquisition and enforcement of IP rights on the one hand and the emerging technology It represents the complexity of evaluating potential value. Patents may require, for example, formal filing and evaluation procedures (patent prosecution) in the US Patent and Trademark Office that may last for several years. Under the present law, granting a patent grants the owner an exclusive right in the patented invention, beginning at the date the patent is granted for a period of 20 years from the filing date of the patent application. Therefore, the effective patent deadline may be significantly shorter than the 20 year period established by the patent law.

Also, the inventor is often not interested in patented technology or can not develop patented technology alone, but preferring to license the rights to a third party for commercial development. However, often the patent is issued before the market for the technology protected by the patent is set up, making the process of setting a reasonable period for patent licensing more complicated. In the prior art, the process of licensing patent rights usually requires a substantial portion of the patent term, limiting the amount of imports generated by the patent. According to one study, patent licensing processing usually takes 37 months. Because patent prosecution requires an average of two to three years, under patent licensing practice, one-third to one-half of the patent term can be lost for licensing purposes.

Several factors in the inefficiency of current patent licensing practices include the difficulty of matching an inventor and other potential patent licenses with a potential patent licensee of interest and qualification, the complexity of determining the precise market value of a patented technology, and There are, but are not limited to, the safe transfer of intellectual property rights.

Thus, there is a need for a more efficient and reliable system for licensing patents and other intellectual property rights.

Related technology cross-references

This application claims priority from U.S. Provisional Patent Application No. 60 / 124,847, filed March 17, 1999, which is hereby incorporated by reference in its entirety.

The present invention relates to electronic commerce, and more particularly, to electronic commerce of intellectual property rights.

1 is a block diagram of a computer system according to one embodiment of the present invention;

Figure 2A is a block diagram of a hardware / software architecture of the client computer of Figure 1,

Figure 2B is a block diagram of the hardware / software architecture of the server computer of Figure 1,

FIG. 3 is a flowchart of the exchange operation of the server program of FIG. 2B,

FIG. 4 is a flowchart of an auction operation of the server program of FIG. 2B,

Figures 5A-5C illustrate a patent information page displayed by the web browser of Figure 2A on a screen of a client computer during operation of the computer system of Figure 1;

Figure 6 shows a navigation menu page displayed by the web browser of Figure 2A on the screen of a client computer during operation of the computer system of Figure 1;

Figures 7A-7B illustrate a navigation page displayed by the web browser of Figure 2A on a client computer screen during operation of the computer system of Figure 1;

Figure 8 is a diagram illustrating a search result page displayed by the web browser of Figure 2A on the screen of a client computer during operation of the computer system of Figure 1;

9 is a diagram showing a result information page displayed by a web browser of 2A on the screen of a client computer during operation of the computer system of Fig.

Figure 10 is a diagram illustrating a bidding page displayed by the web browser of Figure 2A on a screen of a client computer during operation of the computer system of Figure 1;

Figure 11 is a diagram illustrating an auction status page displayed by the web browser of Figure 2A on the screen of a client computer during operation of the computer system of Figure 1;

Figure 12 shows a bidding detail page displayed by the web browser of Figure 2A on the screen of a client computer during operation of the computer system of Figure 1;

Figure 13 illustrates a message board page displayed by the web browser of Figure 2A on the screen of a client computer during operation of the computer system of Figure 1;

Figure 14 is a block diagram of an exchange operated by the computer system of Figure 1;

15A is a table showing the schedule A used to calculate the proposed price according to equation (2)

15B1-15B2 are tables showing the schedules B1 and B2 used to calculate the proposed price according to Equations 2 and 5,

15C is a table showing the schedule C used to calculate the proposed price according to equation (2)

15D is a table showing the schedule D used to calculate the proposed price according to equation (2)

15E1-15E3 are tables showing the schedules E1, E3, and E4 used to calculate the proposed price according to Equations 2 and 7,

15F is a table showing the schedule F used to calculate the proposed price according to FIG. 10, and FIG.

Figure 16 is a table providing a guide for interpreting patent rating values.

The method and apparatus of the present invention provides an online patent and license exchange that allows potential licensors and licensees of patents and other intellectual property rights to efficiently and reliably trade IP licenses or transfer agreements. Three markets are part of the exchange: the license market, the option market, and the secured asset cash flow market. The on-line patent and license exchange may provide an IP address for licensing on the exchange, including a reliable market value estimate of each IP asset listed in the exchange, a transaction closing service, a patent insurance service, Includes a comprehensive database of rights.

A computer system 100 in accordance with one embodiment of the present invention is shown in FIG. Computer system 100 includes a plurality of clients 120n (where n = A, B, C, D, etc.) coupled by a server computer 110 and a global area network (e.g.

2A shows the hardware / software architecture of the client computer 120n. During operation of the computer system 100, the web browser program 210 is run on top of an operating system (OS) 220 that in turn controls the hardware layer 230. The hardware layer 230 in turn provides physical connectivity with the global area network 130.

2B shows the hardware / software architecture of the server computer 110. As shown in FIG. During operation of the computer system 100, the server program 240 is run on top of the OS 250, which in turn controls the hardware layer 260. The hardware layer 260 in turn provides physical connectivity with the global area network 130. The server program 240 also stores and retrieves information in the database 270 by the OS 250. [

A user of the computer system 100 accesses the patent and license exchange of the present invention by the client computer 120n. The web browser program 210 first establishes a connection with the server program 240 on the global area network 130. The user can then access the website for the patent and license exchange by the web browser program 210, the server program 240, and the database 270.

The server computer 110 may be any special purpose or general purpose computer suitable for maintaining a Web site, such as a Pentium-based computer, available from a plurality of third parties, an UltraSparc workstation from Sun Microsystems, Mountain View, CA, IBM An RS6000 workstation, or the like.

The client computer 120n may be any special purpose or general purpose computer suitable for accessing web sites on the Internet, such as a Pentium-based computer available from a plurality of third parties, Macintosh computers manufactured by Apple Computer, Inc. of Cupertino, .

The OS 220 and 250 may be a server computer 110 and a client computer 120n such as Microsoft Corp. Windows 98, Windows NT 4.0 or Windows 2000 by Redmond, Wash., USA, MacOS 8.5 by Apple Computer, Inc., Lt; RTI ID = 0.0 > OS. ≪ / RTI >

Web browser program 210 is any web browser program such as Internet Explorer 5.0 from Microsoft Corp. or Netscape Navigator from Netscape Communications of Mountain View, CA, USA.

3 is a flow diagram of an exchange operation 300 in accordance with one embodiment of the present invention. First, at stage 310, the merchant stores data describing the IPs listed in the exchange in the exchange database 270. Samples of information stored in the exchange database 270 by the merchant are shown in Figures 5A-5C. Figures 5A-5C are partial views of a patent information page 500 listing the information captured in the exchange database 270 for a given patent listed in the exchange. The purchaser can simply scroll through the contents of the patent information page 500 and see the information shown in Figures 5A-5C.

The potential buyer can then search the exchange database 270 at stage 320 to retrieve the information stored by the seller in exchange database 270. [ Although a search menu page 600 is shown in FIG. 6, a partial view of search page 700 is shown in FIGS. 7A-7B. The buyer may select from among the various search options on the search menu page 600. The buyer can then enter a search criterion on the search page 700. The buyer can simply scroll through the contents of the search page 700 to view the information shown in Figures 7A-7B. The search result page 800 (FIG. 8) shows the search results. The buyer can simply click on the link on the search result page 800 to view the information stored in the exchange database 270 for each of the patents returned by the search. This information is displayed in the result information page 900 (Fig. 9).

If the buyer decides to submit a bid to one of the listed patents in the exchange, the buyer may submit a bid by entering a bid item on the bidding page 1000 (FIG. 10). The bidding is received by the computer system 100 at stage 330 and transmitted to the seller at stage 340. FIG. 11 shows an auction status page 1100 used to notify the buyer and seller of the current bidding status. As shown in FIG. 11, each market participant can be both a seller and a buyer. Thereafter, the seller can click on the corresponding link on the auction status page 1100 to obtain more detailed information about each bid submitted for the patent, so that the bid detail page 1200 (FIG. 12) Display.

Once the seller receives a satisfactory bid, the seller can accept the bid by selecting the corresponding link on the bidding details page 1200. The acceptance of bids is received by computer system 100 at stage 350. The buyer is then notified of acceptance of the bid at stage 360 and the patent is transferred to the buyer. 13 shows a message board page 1300 that is used to convey acceptance of bids and other deadline related information to merchants and buyers. Once the transfer of the IP rights listed in the exchange has been completed, operation 300 ends.

4 is a flow diagram illustrating an auction operation 400 in accordance with one embodiment of the present invention. The auction operation 400 is similar to the exchange operation 300 except that in the stages 410 and 420 a plurality of bids can be accepted by the seller. Once the computer system 100 determines that the last offer has been received according to the predetermined auction rules, a winning bid is sent to the seller at stage 430. The stage 440 then determines whether the seller has accepted the award, and in such case, the IP right is transferred from the seller to the buyer at stage 450. Otherwise, the stages 410-440 are repeated until the seller accepts the auction or withdraws the auction lottery.

The exchange website (pbx.com) supports three separate markets: patent asset market, asset option market, and secured asset cash flow market.

The patent asset market is an electronic operational forum for buying and selling IP rights. Companies that have the need for new products for their product pipelines are looking for the above market, but they are bidding on interesting technologies, although they are not interested in technology. In order to facilitate this, the exchange has a user-friendly graphical interface, an explanatory list of available technologies, an intuitively understandable easy way to search for a list of interesting technologies, And provides the sales price. The actual price agreed by the buyer and the seller in the market will be different from the proposed license price. In terms of facilitating transaction processing, the exchange provides a suggested price.

Asset option market

The termination privilege transaction for the exchange auction market allows buyers, sellers and long-term holders to limit their IP interests. Similar to the asset market, the option market is an electronic operational forum for buying and selling IP rights. As special rights, there is an option for the technology to be sold at the same time using an option event that reflects the cost of switching the option as a whole license or patent sale. Similar to the asset market, the exchange has a user-friendly graphical interface, an interpretation list of available technology options, an easy way to navigate the list to find the technology of interest, and a suggested sale price for each offered option to provide. It is conceivable that a single IP asset can be provided as a license and, optionally, simultaneously. The exchange monitors the factors that continuously affect pricing so that the recommended assets and options are reasonably relevant.

Secured Assets Cash Flow Market

This market enables transactions within grouped IP assets. The groupings and valuations are modeled in REITs.

Market Participants - Qualified Licensing Agents

The computer system of the present invention provides an IP rights clearinghouse ideal for almost complete participating worldwide buyers and sellers. These participants, known as "QLA" (Qualified Licensing Agents), must meet certain qualification standards as shown in Table 1 below. The primary QLA is the inventor or owner or buyer of IP assets and a user of IP assets. The intermediate QLA is an agent on behalf of the main buyer or seller. Government entities, universities, and businessmen who do not meet the entry criteria of the exchange or do not want to participate directly may purchase or sell the IP rights through the intermediate QLA as shown in FIG.

QLA Transaction evaluation Standing evaluation government Apply for the minimum value of 10 patents each year for the last three years Official state, federal, United Nations, European Union, or Asian government University Apply to the minimum of five patents each year for the last three years, or maintain a list of at least ten unlicensed or valid patents A college or university with a state, national government, or national education association credential Business Apply to the minimum of five patents each year for the last three years, or maintain a list of at least ten unlicensed or valid patents A list of subscribers to at least one class of security business, or one of the world's top three exchange centers in New York, London or Tokyo, or a company listed on the World Stock Markets page of the Financial Times (based on company capital valuation) A company registered at a State Exchange authorized by the California Commissioner of Corporations under Section 25101 (a) of the California Corporations Code. A law firm (a patent buyer or an intermediary acting on behalf of a seller) The said office shall terminate the sale of at least ten patents in total and / or each year. Each representative participating in a particular office must be able to compare it with at least one state court and a partner who has superior power or oversees the country's control. etc Capital assessment requirements and contract term mooring 3 Recommendations from current exchange qualified licensing agents with excellent survivability

Overview of the auction process

The auction market is a personalized, fascinating and friendly environment. A brief description of the market process and business experience follows. More details on running an auction are provided below.

Exchange Auction Access

The exchange provides services to both types of participants (QLA and niche participants). QLA, one of the agents or qualified custodians, has unrestricted access to the site for listing, inventory, and bidding. The niche participant has access to other elements of the site that are subject to the conditions under which the exchange is made.

Auction flow

The exchange offers an intuitive, easy and fun IP asset search and bid experience.

When searching for patents , a powerful search engine allows participants to search for specific items on the site. They can use a combination of natural language and logical search to execute queries from accurate matches to "and / or" scenarios.

When navigating the site , an intuitive and elegant menu driven web browser navigates the scene and facilitates cataloging, searching, and bidding formats. Context awareness helps facilities support all software roles.

In navigating the list , the complex bidder interface reviews online product information, including detailed product descriptions and images (graphs, charts, and photographs), as well as real-time bidding information. This interface provides optimal participation and ease of use.

Schedule of special auction events

One of the important success factors for the exchange market is bringing the maximum number of buyers interested in a particular IP asset to the opening of a special auction event for the selected IP asset list. A simple way to achieve this goal is to set up a regular auction schedule and advertise in advance so that QLA can have time to participate in the auction.

Operation of exchange office finances

Independent valuation to expedite the price

All patents listed on pl-x.com will be valued based on the TRRU evaluation model. The actual license price agreed to by the seller and the buyer in the pl-x.com market is irrelevant to the price offered by pl-x.com. The proposed price is provided by the pl-x.com exchange as a service to both sellers and buyers to help expedite valuation and negotiation. Sellers can choose whether to use the TRRU price as a minimum of their secret, as the price they require, or as a reference point for their own valuation process. The TRRU price is designed to provide the buyer with the confidence that the owner can not price the patent out of the market, underestimate their intellectual property rights and that the requested price is reasonable. The TRRU valuation also supports pl-x.com in determining the amount of coverage and fees to be covered.

TRRU pricing model

pl-x.com TRRU The proposed pricing model uses current market variables and the Black-Scholes Options Pricing model and the actual option theory to create a common opinion that sellers and buyers can quickly reach fair market prices. The TRRU offer price is mathematical using the actual market valuation assigned to the other technology in the same subsector as its input, the development status of the technology, the expected cost to market the technology, and the actual subsector ROI variance. Model. Although the value of an early stage product may not be known at all, existing competitive products, market conditions, and future income can both be quantitatively evaluated to obtain an evaluation of the reasonable price of each patent. The cost, value, and variance of capital of other technologies in the same sector have a constant flow. So, the pl-x.com offer license price can be changed on a daily or minute basis. This dynamic change will occur when the price of a company with the same technology fluctuates in real time in the stock market. Sellers who have decided to use TRRU prices can also opt to activate TRRU dynamic prices.

For the pl-x.com model inputs, a "pure play" company is chosen, using the pl-x.com valuation algorithm for each starting sector, where the value of the firm is wholly fixed to a single product, Is tracked. When the appropriateness of each of those selected companies is monitored by the pl-x.com financial operations staff, the company is diversified, acquired, or the development of the product ceases, additions and deletions to each market sector .

TRRU model variables

The variables described below are used to continuously calculate the current value of pl-x.com for PV, listed technology.

1. The time to market (t) is defined as the number of months, which is the time required for a suitably invested corporation to convert a patent in its current development state to a product ready for launch. The value of t for most licenses listed on the license market ranges from 0 (already released) to 120 (10 years development and testing required before release).

2. The variance of the valuation in the sector (s2) is the variance of the value (ROI) as mathematically functioned in the Black-Sholes option pricing model and is quickly listed for other "pure play" companies in the same sector As a patent. Dispersion is known through continuous regression analysis at 30 second intervals by the software embedded in the pl-x.com website.

3. Estimated pricing (FV) at launch: The estimated price is calculated, as is the variance, recalculated as the average price of the "pure play" company, and the variance of the average price in the public market is a single Fixed to the product. As with the decentralization, even if each of the five or six companies in a particular sector pass their commercial launch time only once, their valuation takes a leap, and therefore the launch price at the time they are released is the price of their stock So that the FV can be varied on a division basis.

4. Capital cost (r): Like variance and FV, r is derived from the recalculated average of the sector's capital cost. This is equal to the average of trailing one year return on investment for each of the pure play companies to be investigated.

5. Option pricing (OP): Since the technology to be evaluated is treated as if it were a real option, the price of the "option" is necessary to "exercise" the technology (develop, test and market it) It corresponds to cost. In the case of medical patents, the development costs, which are mostly comprised of clinical trial costs, are assessed by the pl-x.com valuation staff using a set of standardized tables and displayed to the merchant listed before being entered into the evaluated patent database do.

TRRU pricing is a value-added service to sellers that requires an impartial valuation of the patent and an independent valuation of the patent to provide the buyer with a piece-off-mind.

These five variables are used to calculate the proposed IP price according to Equation 1 below.

_{Here, d 1 = (ln (PV} / FV) + (r + (s 2/2) t)) / a (t s ^{2) 0.5,} d ₂ = d ₁ - (t s ²⁾ is ^0.5.

The proposed IP price is displayed next to the list of patents (or other IP assets) on the license market part of the exchange website.

Some patent holders list the technology that may feel that the suggested TRRU (SM) price or suggested call option price is not appropriate. Such owners feel that their technology differs from all other technologies and that there is no comparable company to calculate variance, FV and r. For these lists, the exchange provides a second method for evaluating IP pricing and discounted income (DR) pricing. The DR price estimate is posted next to the price, rather than replacing the suggested price or proposed call option price on the web page.

In general, the calculations performed by the exchange staff take into account the characteristics of each of the three IP assets, taking into account (1) income potential, (2) development eligibility, and (3) competition risk.

The income potential, the reason why a buyer was interested in the purchase, is a function of the number of potential customers of the product (or the patient if the product is a piece of equipment) and the ability to distinguish himself from the currently available product. As shown in Table 2 below, the distinction that surpasses existing products helps determine how much the product will penetrate the market.

Rating Product Features excuse Lowest Imitation products with defects or restrictions Semiconductor chip concepts that cost more to manufacture than products on the market Imitation product Other Internet search engines with several patented aspects Competitive New Product (Substitute) Pain reliever New products (promoter advantage) that are not competitive but can easily generate substitutes Voice-activated car the best New products without competition and without significant competitive advantage / entry difficulties Blood substitute

The development status of a particular technology is the second major determinant of the value of the patent. In general, the closer to the release of a product, the more valuable it becomes. The process of overcoming regulatory hurdles, such as obtaining a marketing authorization from the FDA, is considered in relation to how difficult and resourceful regulatory permits remain. A sector-specific regulatory environment is included as a factor in this calculation. Most sectors have a regulatory environment that can be scaled according to Table 3, shown below.

Rating Regulatory conditions Lowest Many regulatory and management body hurdles. A new technology / product / service that does not have a set of regulatory priorities A single regulatory and management body hurdle A new technology / product / service that does not have a set of regulatory priorities A number of regulatory and management body hurdles. Priority for prior art / products / services already tested and confirmed regulatory approvals. Single regulatory hurdles. Priorities / products / services already tested and priorities for established regulatory approvals the best No regulation of technology / product / service

Minimizing the risk of competition is the third major determinant of intellectual property value. For example, a constituent patent of a wide object is clearly more valuable than a patent for a narrow application. The presence or absence of competitors also affects the risk of competition. Table 4 shows some of the patent considerations to consider in minimizing competition risks.

Rating Patent Features Most low Patent is non-exclusive, non-new, narrow, patent is non-exclusive, is not new, is vast, patent is non-exclusive, new, narrow Patent is proprietary, new and narrow, patent is proprietary, new and narrow, patent is proprietary, new and vast.

Examples of discounted income valuation: valuation of medical technology

The discounted income valuation methodology becomes more concrete by showing a specific example. Medical technology, including biotechnology, medical equipment, and pharmaceuticals, describes a major part of the total patent volume of the exchange. Medical technology is also one of the most complex sectors of evaluation, providing an excellent description of the exchange valuation protocol.

Discount income medical technology valuation schedule

The evaluation of all the techniques recorded in the list starts with the potential of the final income generating product calculated in Schedule (A) (Fig. 15A). Each of the schedule B (FIG. 15B), the schedule C (FIG. 15C), and the schedule D (FIG. 15D) generates an input at a discount rate to be applied to the output A as shown in Equation 2 shown below. Schedule E (Fig. 15E) returns the value of the upcoming trial to be performed in order to use the technique. Thus, the fair value of the current technology, the variable "S", is based on the incomes that are likely to be generated and is discounted by a ratio determined by the less capital required to develop, the risk of becoming obsolete.

Here, the letters A, B, C, and D & E represent the outputs of their respective schedules, and are described below.

Schedule A: Income potential

Each technology purchased or selected has the potential to ultimately generate cash to the owner in the form of product sales. This is based on the value of technology. Companies often refer to their products as "market potential", which is defined as the selling price of a product that is timed to the number of people potentially available. The exchange method of assessing the income potential is initiated in the same way, and the prevalence of the disease treated by the product is multiplied by the anticipated average selling price (ASP), where again one patient needs treatment one year The number of periods is multiplied, and the "significance factor" is multiplied.

The critical factor indicated in Schedule A quantitatively indicates the degree to which the product is superior to the current state-of-the-art treatable. This is to acknowledge the fact that new and effective therapies that are slightly better than current treatment standards will likely have poor market penetration. As a result, new therapies that are dramatically improved over the state of the art are likely to account for most of the market. Just as it has taken over 10 medical products (such as insulin for diabetes and coagulation factors (Ⅷ) for hemophilia (A)) over the past 50 years, this can erode the entire market.

When the important factor is determined, the output (A) is calculated using one of the following two equations.

For an ongoing Rx,

Factor (A) = (Prevalence) * (Rx ASP) * (Rx required per year) * (Important factor from Schedule A)

For the past Rx,

Factor (A) = (incidence + r * prevalence) * (Rx ASP) * (important factor from Schedule A)

A measure of how much better the product is than the standard of care, as a guideline for selecting important factors of the product, is shown in FIG. 15A.

Schedule B: An opportunity to demonstrate safety and efficacy in the test (chance)

Schedule B represents an opportunity for technology to fail to become a viable product while interacting with the Food and Drug Administration (FDA). FDA has full and total regulatory authority over all pharmaceutical, biotechnology, and medical device products. Opportunity to be disadvantageous to the sale of a product is a substantial and quantifiable risk and consists of a fraction of the discount rate in Schedule B. FDA may refuse to approve product sales for (1) products that are not proven safe and (2) products are not proven efficacious. Accordingly, the schedule B is composed of two sub-schedules B1 and B2 (FIG. 15B1 and FIG. 15B2) that can quantitatively represent safety and efficacy risk, and as shown in the following equation (5) A factor B is generated as a product.

Factor (B) = B1 * B2

Schedule C & D: Quantifying competition risks from new market subscribers.

Schedules C and D address Michael Porter's classic "threat of new entrants" risk for a given product. The final income generating potential of a product is significantly hurt by the appearance or absence of a competitive product. Existing competitive products have already been described in Schedule A, and in Schedule A they are part of the current "state of technology" or "status quo". The exchange patent insurance service protects the buyer from the risk of patent invalidation from "prior art", but does not protect against the risk that the patent may not be wide enough to prevent new subscribers from entering a particular market. Narrowly limited patents that can be fully implemented can be depreciated by the advent of new competitive technologies.

Other factors play a role in determining whether competitive technology emerges before and after the product is put on the market and makes the first technology less valuable or totally useless. Prior to the launch of a product, a product is generally known only to people in those areas that typically pursue a competitive environment. However, after the launch of the product, the product may become known to more people, especially if the product is commercially successful. In fact, the commercial success of a product will be directly impacted by the number of new competing technologies that are emerging to challenge it (evidence of Transkaryotic Therapeutics "GA-EPO" patent challenging Amgen's multi-billion dollar EPO business). Therefore, new subscribers' threats before and after the release of the product are handled as separate schedules: Antelaunch Obsolescence Factor C, and Post-launch Obsolescence Factor D.

Schedule C: Opportunity to prevent aging from competition until launch

As shown in Figure 15C, the threat of new technology emerging to challenge a particular patent segment before launching a new technology is related to its patentability, the appearance of existing competitors, and the time remaining until launch.

Schedule D: Opportunity to prevent aging from competition after launch

As shown in FIG. 15D, threats of new technologies emerging to challenge specific patent elements after commercially available threats include the desirability of the industry, the patentability of the product, the emergence of existing competitors, Of the total.

The factor (D) undergoes a final processing step after schedule D. The output from Schedule D is multiplied by 17 (average patent life), divided by the number of years remaining in the patent period. This indicates a linear and predictable opportunity for the patent to expire while the product is in the market, and it can be inferred that one of Porter's "new subscribers" is depreciating the value of the patent.

Factor (D) = [Schedule D output] * 17 / [Number of remaining patent years]

Schedule E: Remaining test fee

The remaining test cost is defined as the expected test cost for each test required for FDA sales approval, including Phase III or "pivotal" testing. In the case of non-medical technology, it is similar to the cost of completing the remaining development work on the products required for launch (creating a prototype, increasing the rate of manufacture, etc.). The tests are typically conducted, costing between $ 2,000 and $ 9,000 per patient and are subject to change depending on the number of centers, the duration of treatment, and the ability of the tester to persuade the FDA to test.

The cost of the remaining trial (factor (E)) calculation begins with an estimate of cost per patient, E1, as shown in Figure 15E1.

The second component of the factor E can be obtained without a schedule. E2 is equal to the total number of patients in all remaining tests required for approval of sales.

Highly dispersed research is sometimes required by the FDA and is always terminated by multiplying the cost. As shown in Fig. 15E2, this is reflected in the third component E3 of the factor E called the center factor.

As indicated by the competency factor (E4), the need to process tests in certain types of clinical centers or specific "thought leader" organizations, as the schedule must be changed and a clear-cut person has to pay for it It can be added significantly to the cost of running the test.

The factor (E) is obtained by taking the product of the four subcomponents.

(E3) * (E4) = E1 * E2 * E3 * E4 (Expected test cost) = (Cost per patient, E1)

A medical license price modifier

After calculating the proposed license price in accordance with the above procedure, the finally proposed list price can be complicated by two additional factors (non-exclusive rights and royalty splits).

Some sellers may wish to provide only non-exclusive rights to their patents to retain the right to sell non-exclusive rights back to other buyers. Such a decision makes the value of technology to each buyer less obvious than if it could be provided exclusively.

Some sellers may want to specify a range of royalty splitting or royalty splitting, and they will be willing to agree with the potential licensor.

The exchange evaluation system processes these two additional factors as "license price modifiers" that can be applied to the valuation just prior to the listing. Even after they are listed, they are all also changed by the listing side do. Non-exclusive rights reduce the value of technology in that it has the tendency and resources to license technology in the future, other than existing buyer companies.

For this reason, the proposed license price for non-exclusively listed technologies is reduced by dividing by the "industry competition factor" defined in Schedule F.

The factor (F) used only when the license is provided non-exclusively reduces the list price S proposed by equation (8).

List price = S / F

Quantitative processing of royalty splits is much more honest and does not require a schedule. Percentage of the price of the product that the seller wants to keep is subtracted from the value of the patent (for example, if the listener wants to maintain an 8% royalty for the product they want to sell, the final price is multiplied by 0.92).

Therefore, the finally proposed license price posted next to each technology list in the exclusively offered exchange license market is calculated by equation (9).

The proposed price for the non-exclusive list includes an extra reduction from factor F as shown in equation (10).

Discounted income valuation for non-medical patents

Examples of the medical evaluation methodologies described for the above three markets are characteristic of medical intellectual property rights. The valuation of a medical patent generally requires much more steps than the valuation of a patent in virtually any other field. This is because no other sector has the regulatory authority to respond to the FDA that relates the value of a typical medical patent to its status and prospects. For example, some other areas of technology seem initially unlikely, but later proved unsafe for human use, resulting in no marketability and little value.

The valuation of computer software patents at the clearing house simply turns out to be a simplified form of medical technology. Schedule B (opportunity to demonstrate efficacy and safety) and Schedule E (remaining test cost) are eliminated, replacing the new schedule E (remaining development cost). Schedule A also changes because the projected income potential for computer software uses a different market size analysis technique than is used to estimate the patient population.

Non-medical schedule B: Remaining development costs

When the development costs anticipated in non-medical technology rather than the patient outcomes required for each remaining phase of clinical trial are released as the human time value of the computer code, "debugging" the program, or as current technology and product Is connected to a similar time consuming operation between the states of the state to be present.

Patent risk rating and patent validity insurance

Patents are a limited area of intellectual property. As intellectual property is a real property, and patent is an actual property title, patent validity insurance is property title insurance. This compulsory insurance product is one of the risk substitutes that helps reduce buyer's risk and provides for exchange to facilitate patent sales and license trading.

As each patent can receive TRRU pricing before it is posted on the pl-x.com patent market, each patent will receive automatic validity insurance. The use of patent insurance creates a less risky market by reducing the risk that buyers and sellers will experience in selling each patent. pl-x.com also serves to create a complete package of patent insurance that adds infringement to the validity and compulsory insurance that facilitates safe and effective commercial transfer of quality patents and licenses.

Patent validity insurance

The coverage of patent validity insurance will automatically include all patent and license transactions on pl-x.com. Because each pl-x.com buyer or licensed person is insured for the amount of prepaid purchase price paid for each patent and license, this innovative risk-averting product is available on the pl-x.com market It will strengthen the liquidity. The validity of the patent validity shall be paid to the purchaser or licensed person for the risk of financial loss that may arise when the purchased patent is declared invalid. Invalidity may be manifested, for example, by an inventor or patent applicant who fails to disclose information during the patent application process, or by obvious fraud, such as a patent provided for sale by someone who is not a fake patent or patentee. The scope may also be provided for the cost of adding the tooling cost to the buyer's purchase price or license fee, and for the investment needed to develop a new product from the acquired patent.

Additional patent insurance products

In addition to automatic patent validity insurance, a coverage that is possible to cover the trades traded in pl-x.com can be made. These include: (1) Patent Validity Plus for the risk of loss resulting from the nullity of additional funds invested in ongoing product development, (2) infringement of the risk of patent infringement liability, and (3) And the enforcement of legal cost restrictions for the enforcement of patent rights for those who infringe rights.

Escrow operation of exchange office

A credit and security rating between buyer and seller is required for all transactions that occur. The entire industry that provides credit and security in real estate transactions has developed third party escrow certificates. The escrow manager keeps the transaction document from one side and the cash remuneration from the other side, deducts the cost and the fee, and receives the instructions from the parties and distributes the documents and cash. The service provides both sides with a high credit rating that allows transactions to be concluded as expected and the two sides to benefit from each sale. Third-party escrow services are not currently available for organizations that purchase and sell patents.

The start of a patent has a current critical need for neutral escrow services. For example, for business development enforcement of an orthopedic implantation company in Tennessee to obtain a license for bone growth protein from a biotechnology company in Finland, Tennessee buyers must pay cash appropriately to Finnish banks or other financial media You should feel confident and trusting about whether the treatment will result in the delivery of bone protein patents. At present, participants in international patent exchange have the risk that local laws and customs can protect their respective interests. However, neither the Americans nor Finnish officials will learn the details of international contracts, or they will not have the opportunity to finish on the other side without some kind of third party insurance. Also, the idea of hiring a local legal representative is costly and potentially unreliable.

The patented courier service is a third-party brokerage service that maintains repayment from Tennessee and patent titles from Finland, and does not pay any counterparty until both parties have received and verified it. In addition, the equitable patent escrow is responsible for complying with local law requirements for the collection and payment of fees, charges and fees for such delivery. A patented escrow agent may work under a contract from the clearing house and be reimbursed for this service in accordance with the fee schedule.

In addition to the escrow, pl-x.com provides online document management tools that help both parties manage the paperwork involved in closing each transaction. The tools allow both parties to trade in and out of the safe online space, review and edit documents protected by passwords, and track the progress of all transaction documents in a paperless environment. The pl-x.com management believes that this service, originally designed for financial sharing, can reduce the time it takes to close a technology transfer transaction, thereby increasing control over the documents associated with both parties.

License Management Operations

The clearinghouse meets the unmet need for cost-effective after-sales service license management. Many companies do not have a dedicated licensing department, adequate business budgets, or licensing and loyalty compliance monitoring. Potential income is wasted.

Exchange license management services use a powerful information technology network to process, track, and report royalties. This service is executed in cooperation with the exchange escrow certificate service. The patent purchaser will respond to the royalty fee inquiry filed with the exchange escrow certificate service based on the agreed upon terms of transaction at the time of termination. The questionnaire is processed electronically, the discrepancy is reviewed by the exchange staff and sent to the seller for approval. After the report is approved by the seller, the buyer will immediately receive telephone instructions to deposit the appropriate royalties into a specific bank account maintained for the benefit of the exchange escrow service. At the same time, the escrow service is notified to expect the call. In turn, the escrow service is immediately responsible for confirming receipt of the funds and remitting the funds to the seller.

Financial management for option markets

The second option market, which is the second of the three exchange patent markets, considers transactions in both buy and sell options as long as market participants (those involved in the company or third parties) are willing to offer options. Other stimuli for trading will occur depending on the people who buy and sell the options of each type.

Transaction options between other sellers and buyers

Call option

The patent call option is a contractual right to purchase technology from the owner of the patent right at a predetermined price before the expiration date of the patent right. The purchase of a technology at a given price is referred to as an "exercising" option and the "exercise price" is the price imposed on the basis of a time when a patent can be obtained exclusively for the technology. Owning a patent call option prevents a competitor from purchasing a technology until the expiration of the option or option, or making the technology unenforceable.

A risk-averse corporate entity interested in a specific patent field buys call options before an experiment or clinical trial to observe technical research. If technology development is successful, the company will issue call options and own patents. If the company's requirements or the business of the company are changed during technology development, the option can be revoked and the company can use less money than the price to purchase the patent.

In addition, a patent owner who wishes to "write" an option can also benefit: if the option buyer wishes to have an implementation option for the technology, the option seller will, in addition to the option price, The same price as the comparable patent fee at the time of receiving the patent right). If the buyer does not want to implement the option, the seller can retain 100% ownership of the patent while receiving the option price and provide another option to another market participant. This can provide trading advantages for both call option buyers (company developers) and call option sellers (patented universities).

Put option

In addition to technology, buying a put option is like giving a cash advance to a patent research organization while buying a call option, so when the call option is offered, the company is reluctant to purchase the put option. The intention of the put option seller is that the buyer wants to borrow the cash by buying the patent.

The price of the put option is generally proportional to the risk of failure of the technology. If the risk is very large, the put option price approaches the current value of the enforcement price, (enforcement price) / (1 + risk rate) ⁿ . Similarly, when the execution price has a purchase price function of the patent and the risk is very high, the future value of the purchase price (purchase price) (1 + risk rate) approaches ⁿ . In extreme cases, since both parties are aware that there is no opportunity for technology research, the put option price becomes equal to the purchase price, and the strike price is the risk of buying a put option, It becomes the future price with element added.

Option to deal with another person

Call options

If the first developer is limited in cash or wants to divide the ownership of the product by a predetermined percentage, some of the call options may be purchased by the second developer. The second developer is late when he or she learns about the technology and wants to get at least some of the technology's rights. The first developer can break this same exchange and list these "some call options".

Alternatively, developers who need to study high-profile technology and need cash can provide the public agency with at least some of the call options. This is possible if a developer buys a call option from a patent option seller or if an option occurs in the technology itself. This kind of "patent option sale" is similar to a ball stock sale, and it can be understood that a company that sells patent stocks purchases all sorts of call options as premiums at a premium when technology is completed in the future. This allows the company to provide cash spending, and if you have a research product, you can get more cash through other means, so you need more cash than you can get when you first sell a patent call option to a public agency . This is a high-risk investment because the public agency does not guarantee developer's patent development, and the value of the patent call option is related to the development of the patent.

Put Option

A third-party nay-sayer may purchase put options from the developer of the company that purchased the patent from the original owner. Although the put option can not be patented, a third party may consider the developer's technology development to be unsuccessful and purchase the put option to "put" the patent right to the original owner. In this case, the developer may purchase the put option again from a third party at a price higher than the price paid by the third party (but always lower than the contract price). A third party can benefit from the success of his "betting". A third party wants to know the maximum amount of his investment, so even though he can not patent, he wants to know the starting price of the initial option.

In order to provide additional services to both the buyer and the seller, the exchange evaluator determines and announces the measurement evaluation of each listed option. These procedures are described in detail in the exchange technology evaluation manual. All of the relevant factors for option pricing are included in the five inputs to the Black-Scholes model.

For convenience, the entry of "S" in the Black Scores Option pricing model is the same as the suggested exchange price for the immediate purchase of the technology.

Evaluation in option trading

The proposed evaluation is published alongside each option listed on the option transaction, similar to the procedure for license transactions. As a first step, the technology evaluation is executed under each option and executed in the same manner as the license transaction.

In many cases, the same technology may be provided for licensing or as an option. At that time, the technical evaluation of the same number is used as a changeable "S". Conveniently, the input of " S " in the Black Scores option pricing model is the same as the suggested price for purchasing the technology.

Black Scores:

Appropriate value =

Here, d ₂ <d ₁ , and both d ₁ and d ₂ are distributed in a lognormal manner.

Discounted income assessment Non-medical patent option

The evaluation of options for non-medical patents is simple.

The accuracy of the discounted income methodology in all three markets is obtained by appropriately using the schedules in Section I or the mathematical formulas in Sections I-IV as well as outputting appropriate numerical coefficients on a schedule. As an accurate judgment of the real-world price is maintained, the buyer buys for a technology having certain parameters (income expectancy, time to launch, competition level, etc.) And is continuously regressed for real-world data.

Intellectual property rights are purchased, sold, or partnered with companies or agencies without the use of the exchange. However, these transactions are important in the exchange Financial Operation because they accurately tell you how long a specific technology has been sold. In other words, the techniques in which the purchase price is initiated and already sold or affiliated can serve as additional examples, and can be entered in the exchange schedule and in the equation.

The general regression analysis can be applied to the real-world patent transaction data in the exchange evaluation equation (Equation 9).

Since this is a mathematical expression with seven variables, seven or more real-world transactions are needed to solve the proper levels of A, B, C, D, E, F and n. For example, parameters of a known technique (income expectancy, duration until launch, competition level, etc.) may be provided in the schedule during the execution of multiple regressions. A plurality of iterations of this regression implementation are then used to re-measure the left-hand column numbers, A-F, on each schedule. The purpose of remeasurement is to derive the value of the overall evaluation algorithm and the corresponding value of the technology actually sold, while one variable does not have a significant effect.

Patent Rating

For each patent provided through a discounted income assessment, the exchange staff provides a rating of the patent risk level referred to as the patent level. The dollar value presented in each exchange listing is heavily influenced by the risk level of the listed technology. The risk level is calculated by (B * C * D) ⁿ , which is the square of the number of years remaining until it is launched into the discount rate, i.e., (B * C * D) in equation (8).

The discount rate is limited to 1.00 (lacking stability, known effects, already commercially available products, or in the case of no industrial competitors and difficulty in entering the market) up to 19.11 And the patent has already been lost due to a trial). This discount rate is listed on the exchange as a patent rating adjacent to the price offered for each technology. In the same way as Moody's corporate bond rating, the patent rating provides another tool for evaluating the listed technology to the buyer. In addition, an exchange research engine is provided to investigate the technology of a given range of patent ratings.

Financing of securities assets cash

The three exchange markets are mostly complex and the cash flow market allows you to buy or sell a small group of technologies together. A unit transaction of exchange is an example of an exchange transaction that does not occur between the current buyer and seller in an off - exchange personal negotiation transaction. IP holders bundle the group's skills on a cash flow clearinghouse, "securitize" them in a unit, and list these units and choose to own the unit.

Large-scale inspectors may be the majority of applicants offering cash inflows, and they may have a large number of patents borrowed from the cash flow format.

Evaluation in cash flow market

The value presented for each listed cash flow unit is similar to the book value listed for each Real Estate Investment Trust (REIT) unit in Today's REIT market. In particular, each patent property right bundled together in the cash flow is evaluated according to the methodology described above. Then the sum of these values is divided by the number of shares in the cash flow. At this time, this technology "book value" is listed in the cash flow exchange area adjacent to each cash flow. The actual bead and esque prices for each cash flow are determined by supply and demand, as in the case of bulletin board REITs. And, as in REITs, market prices and North values are often inherently different. However, because the exchange financing (OPT) algorithm properly updates the proposed price of all patent units in each cash flow, the published book value of the cash flow changes more frequently than the published book value of REITs.

Data source

The purpose of remeasuring the exchange rating factors is that the "data" consists of examples of real-world intellectual property contracts in which both the nature of the technology and the purchase price are disclosed. Since such data is important in an evaluation model that is continuously modified as described above. The data for this purpose is continuously generated by the buyer and the seller and fed back to the exchange model. However, before the exchange transaction, the data is tabulated as a press release, a trade announcement indicating a technology transfer transaction, a company and a research institute.

Examples of industry categories for continuous changes in the report, and future value in Launch

(FV) calculation

Future values and changes (sigma 2) in Launches (FV) entered into the clearinghouse presented in the list price calculation include "pure play" companies traded at approximately 5-10 in each 185 sector technology Lt; RTI ID = 0.0 &gt; pure-play &lt; / RTI &gt; For example, Sigma 2 is a calculated change in share price returns for 5-10 companies in the question category. FV means Pure-Fray's market capitalization and they are either launched or projected to launch the product. These two values are calculated and remeasured by the exchange operating computer during the stock exchange trading hours. If a company's business is changed or the company's business is diversified, it is no longer considered "pure play" and is deleted from the database. When a new company emerges, it is added to the database by financial researchers in ways that add the Dow Jones News Corp. or replace the company at the Dow Jones Industrial Average.

Auction function

The exchange auction website has the following functions.

Initial buyer / seller registration. This step deals with the demonstration of transaction relationships, the exchange of cryptographic keys, and the creation of profiles that reflect the interests of each trader in a particular patent.

Set a specific auction event. This second step involves setting the rules for the auction and the description of items sold or obtained. The auction rules are based on the auction being processed (open cry, sealed bid, reverse auction), parameters to be processed (price, delivery date, payment institution, etc.), the start date and time of the auction, Rules and so on.

Bidding. The bidding phase provides the bidding rules for the auction (minimum bid, bid profit, deposit required for bidding) for competitive bidding and notifies the bidder when a new high bid is submitted.

Auction evaluation and auction closing. This step executes the auction closing rule and notifies the winning bidder and the unsuccessful bidder.

Transaction adjustment . This last step describes the next steps necessary for the transfer and sale of patent rights.

Auction type

Competitive bidding (open cry)

A competitive bidding auction is to make the auction public. Such an auction may be a response to each bid, for example, a decision to terminate a high bid bid or auction by another participant occurs within a short time, sometimes in a matter of seconds. These auction methods allow individual buyers to participate in the auction at the same time; Make sure you know your bid in a few seconds. Traditionally, these auctions are an immediate reflection of internal bidders' communication, in which only those who attend the venue, such as the conference room / auction room, participate. That is, participation through telephone and agent (order bidding) is limited.

Seal bid

A sealed bidding is a method used by bidders when it is difficult to prepare bids on the spot. These auctions can earn time to prepare bids and other bidders can not know the pre-bid information necessary to prepare bids such as pre-bid, since bidders do not participate in the auction at the same time. In a one-time sealed auction, all bidders submit their bid by the deadline and evaluate the bid submitted within this deadline. In a multiple-seal auction, a bid deadline for each meeting ends with a deadline for another auction, or a new bid with a new deadline is set.

Bidding once or twice

A one-time sealed auction lacks a competitive atmosphere (bid opening) than an open bid auction where bidders pay more than their rivals. Multiple bidding bidding auctions may have part of the open bidding format and may accommodate an unlimited period until the bid price is reached.

Bulletin board bid

Another alternative is to use electronic bulletin bidding. Information on preliminary bidding will be announced on the bulletin board but will not be available for new bidding. Bidders can see the bulletin board several times a day and have the opportunity to present their highest bid. This approach can drive competition while raising the demand for participation in the informational and open bidding auctions.

Bidder / Provider Control

In an auction, a leader of an auction or exchange needs to see a bid submitted by another participant or his own bid to see if a transaction can be made at his bid price. If a participant offers a bid at an open auction or bulletin board auction, each winning bid becomes higher than the previous winning bid.

If the exchange auction master announces the bid, he can start with a high bid, and if the bidder does not intend to trade, the bidding price will be lowered until the bidders are enough and his stock is gone. This is a reverse auction method that operates in real time. Alternatively, the exchange auction master may start with a lower bid, and if there are more buyers than his inventory, the bid will increase until the number of buyers who want to buy his product matches his stock.

Setting the transaction price

Once the bidding stage is over, the winning bidder will be awarded the highest bid price to get the patent. However, the bid price can be equal to or lower than the bid price they have written. In discriminatory auctions or Yankee auctions, bidders pay their actual bid amount. If the bidder is an acquaintance of the seller, bidders who wish to pay higher prices than other bidders will be disgruntled. This means that the winning bidder can be awarded with the lowest bid price.

This latter treatment is well known as a reverse auction, but I would like to refer to it as a non-discriminatory auction. This is because the term reverse auction can be described as auction where the exchange can start at a high price and bid at a low price in a broad sense, while the buyer has the option of purchasing the item at any time in the current bid price. Non - discriminatory auctions are widely used to repurchase such distributions (through what is referred to as reverse auction in this context).

The change in the non-discriminatory auction, called Big Cray Auction, was proposed by William Big Cray, who won the 1996 Nobel Prize in economics. Here, the winner pays the highest bid price of the winner. This policy can be said to result in interference with the theoretical bid, and the bidder submits a bid reflecting the actual value of the auctioned goods.

Additional auction processing changes

The following process selection can be applied to the auction method described above.

Anonymity

Many factors can provide useful information to the bidders before and after the auction is concluded. In open bid auctions, you can hide the bidder's identity or hide the relationship between the bidder and the bid price. In an enclosed bid auction, the identity of the bidder and / or their bid price may be revealed to other bidders after the auction is terminated. Alternatively, only the bid price and / or the bidder's identity can be revealed. When potential bidders with abundant resources are present, they can be careful to prevent a small number of bids and to protect the identity of all bidders.

Bid limits

In all auctions, the seller can specify a minimum bid. If an auction of items of the same kind occurs regularly, the minimum bid is usually the smallest part of the auction (70%) of the auctions that run at the specified number. To speed up the winning bid, increase the minimum bid. The bid increase is proportional to the current bid, for example, smaller for smaller bids and larger for higher bids.

Rules for closing an auction

The open bid auction ends at the published closing time. Alternatively, the auction may continue if new bids arrive continuously within a certain time of the preceding bidding. If one or both of the above two conditions are met, the auction may be selected to be terminated. Reverse auctions can be terminated at a predefined time, ie when all inventory is sold, the price drops to a predetermined level, or these three conditions are combined. This form can be a winning bid for exchange and patent exchange.

Stop rating rules and bids

Every auction has a rule that evaluates the bid. When an item is sold in an auction, generally higher bidders are more advantageous than lower bidders. However, it is possible to compare the two bidders by another factor such as the payment period. For example, a seller prefers a bid requesting delivery of a merchandise to a seller rather than a bid requesting delivery to a seller. Prepayment or immediate payment can give a high rating compared to bidding within 90 days of payment.

If multiple bids have the same valuation and useful inventory meets only a portion of the bidders, then a rule is needed to stop the bidding. It is preferable to give priority to the first bidders, while giving the bidders a large amount of priority, and if there are two bidders, specifying the same amount. If the seller maintains the history of the auction, he may provide the bidders with the business information processed in the past.

Services provided to sellers and bidders

The service provided to the seller is a limited price (the lowest price the seller can accommodate). Other services include credit checks and guarantees for all bidders, patent guarantees for non-performing patents, conditional entry certificates and promotional services. Custom bidding (bidding via an exchange provided by a certified agent) is an important service that can provide an exchange to the bidder. Introducing the upcoming auction event or the sponsor's special auction event to registered bidders is a marketing service that forms a sufficient market.

Consider security

Security mechanisms are needed to ensure that the auction site or these rules are not interrupted by the outside world. This prevents not only unauthorized appointments and changes, but also denial of service. The cryptographic tool publishes certain auction notifications and provides very useful access during certain periods.

During the bidding, the cryptographic tool ensures that submitted bids are not changed and that the bidder of another bidder is not exposed. In an open bid auction, the bidder's proof relationship, known from all bidders, is verified through a chain of bids.

Terms and Conditions

The exchange bidding process may require the buyer to have a specific payment or shipping term, and such terms and conditions are treated as part of the bid. The auction chart will indicate the proposed terms and conditions in terms of the bid. In addition, when writing the product specification, the seller must state the range of terms and conditions that he can accept and indicate the method of bid evaluation.

Auction and withdrawal of bids

During the bidding, if any situation arises, the bidder may stop or cancel the auction or modify the rules. Similarly, if any situation arises, the bidder may cancel or modify their bid.

Auction Closing

The auction is concluded in accordance with the termination rules. At this time, the successful bidder can process it as a conventional purchase order if necessary. At the end of the auction, additional actions occur.

notice

The clearinghouse informs the buyer of the outcome of the auction. Depending on the auction process, some information may be communicated to all buyers, and only the relevant bidders may be notified. Security and privacy tools are needed.

Record hold

To prove to buyers and sellers that the auction has been fair, the auction records are digitally marked by exchange.

Although the embodiments described above have been described, these embodiments do not limit the present invention. In particular, the invention is not limited to any particular hardware / software used to implement the computer system of the present invention.

In a preferred embodiment, the seller maintains a higher level of control at the end of the auction for the seller's intellectual property. When publishing the inventory, the seller may indicate a rule for selecting an auctioneer. These rules may include the highest cash price, the highest royalties, the highest bid price within a certain period of time, or may include combinations of parameters determined by other parameters or vendors.

Claims (45)

A computer system for operating an intellectual property clearinghouse between a seller of an intellectual property and a purchaser, At least one server computer; One or more client computers connected to the server computer via a global area network; And A computer program executed by the server computer, The computer program comprising: Store information on intellectual property listed in the clearinghouse in the database; Searching in the database for information about intellectual property listed in the exchange according to one or more search criteria designated by the buyer; Receiving a bid from a buyer to obtain the rights of the intellectual property listed in the exchange; Transmitting the bidding information to the seller of the intellectual property right for which the bid is submitted; Receiving an acceptance of the bid from the intellectual property owner; And A computer instruction for transferring intellectual property rights from the merchant to the buyer in response to the seller accepting the buyer's bid. The method according to claim 1, Wherein the intellectual property rights include a license or transfer of the intellectual property. The method according to claim 1, Wherein the computer program comprises computer instructions for evaluating the value of the intellectual property stored in the database and for determining the risk assessment. The method according to claim 1, Wherein the computer program comprises computer instructions for transferring intellectual property rights from the merchant to the purchaser using a finishing service. The method according to claim 1, Wherein the computer program comprises computer instructions for transferring intellectual property rights from the merchant to the purchaser using an escrow service. The method according to claim 1, Wherein the computer program comprises computer instructions to enable the purchaser to obtain insurance for intellectual property owned by the merchant. The method according to claim 6, The insurance includes the purchase paid by the purchaser of the intellectual property right and the arbitrary pre-paid royalties in the compensation scope when the intellectual property is invalidated by the court, Intellectual Property Exchange Computer System. The method according to claim 6, The computer program may further include, in the event that the intellectual property is invalidated by a court, the cost and investment in proceeding the intellectual property by the buyer, such as additional insurance, intellectual property infringement insurance, agent fee insurance And computer instructions to enable the purchaser to selectively purchase the intellectual property enforcement insurance. The method according to claim 1, Wherein said global area computer network comprises the Internet. &Lt; RTI ID = 0.0 &gt; 11. &lt; / RTI &gt; The method according to claim 1, Wherein the database comprises information from a legal document transferring intellectual property rights, marketing information provided by the seller, and technical classification information. The method according to claim 1, The computer program includes computer instructions for automatically providing the buyer with access to information stored in the database based on the buyer profile provided by the buyer and the purchase history pattern of the buyer as recorded by the computer program A computer system for intellectual property exchange between a seller and a buyer of an intellectual property. The method according to claim 1, The computer program comprising: Receiving one or more bids from the buyer to obtain rights to the listed intellectual property; Selecting a winning bid from bids received from the buyer according to a set of auction rules; Sending the winning information to the seller of the intellectual property right for which the bid is submitted; And And computer instructions for receiving acceptance of the award from the intellectual property owner. &Lt; Desc / Clms Page number 24 &gt; The method according to claim 1, The computer program comprising: Obtain credential information from potential buyers and sellers; And The computer system comprising computer instructions for enabling only qualified buyers and sellers to trade listed intellectual property rights in the exchange. The method according to claim 1, Wherein the computer program comprises computer instructions for collecting, analyzing and publishing intellectual property market activity data. The method according to claim 1, Wherein the exchange comprises a license / transfer market, an option market, and a secured asset cash flow market, wherein the exchange comprises an exchange of intellectual property between the seller and the buyer of the intellectual property. A method for operating an intellectual property property exchange between a seller and a buyer of an intellectual property using a computer system comprising at least one server computer and at least one client computer connected to the server computer by a global area network, Storing information on intellectual property listed in the exchange in a database; Searching in the database for information about intellectual property listed in the exchange according to one or more search criteria designated by the buyer; Receiving a bid from a buyer to obtain the rights of the intellectual property listed in the exchange office; Transmitting the bid information to a seller of the intellectual property right in which the bid is submitted; Receiving an acceptance of the bid from the intellectual property owner; And And transferring the intellectual property right from the seller to the buyer in response to the seller accepting the buyer's bid. &Lt; Desc / Clms Page number 19 &gt; 17. The method of claim 16, Wherein the intellectual property rights include a license or transfer of the intellectual property. 17. The method of claim 16, And evaluating the value of the intellectual property stored in the database and determining the risk assessment. 17. The method of claim 16, And transferring the intellectual property right from the seller to the purchaser using a finishing service. 17. The method of claim 16, And transferring the intellectual property right from the seller to the purchaser using an escrow service. &Lt; RTI ID = 0.0 &gt; 8. &lt; / RTI &gt; 17. The method of claim 16, Wherein the buyer is able to obtain insurance for intellectual property owned by the seller. &Lt; Desc / Clms Page number 21 &gt; 22. The method of claim 21, The insurance includes the purchase paid by the purchaser of the intellectual property right and the arbitrary pre-paid royalties in the compensation scope when the intellectual property is invalidated by the court, How Intellectual Property Exchange Operates. 22. The method of claim 21, If the intellectual property is invalidated by a court, the additional costs of the purchaser in proceeding with the intellectual property and the investment shall be covered by additional insurance, intellectual property infringement insurance, agent fee insurance, and intellectual property And a computer instruction for enabling the purchaser to selectively purchase executive insurance. &Lt; RTI ID = 0.0 &gt; 18. &lt; / RTI &gt; 17. The method of claim 16, RTI ID = 0.0 &gt; 1, &lt; / RTI &gt; wherein the global area computer network comprises the Internet. 17. The method of claim 16, Wherein the database comprises information from a legal deed transferring intellectual property rights, marketing information provided by the seller, and technical classification information. 17. The method of claim 16, Automatically providing access to the information stored in the database to the buyer based on the buyer profile provided by the buyer and the purchase history pattern of the buyer as recorded by the computer program A method of operating an IPR exchange between a seller and a buyer of property. 17. The method of claim 16, Receiving one or more bids to obtain the rights of the intellectual property listed in the exchange from the buyer; Selecting a winning bid from bids received from the buyer according to a set of auction rules; Transmitting the award information to a seller of the intellectual property right in which the bid is submitted; And And receiving an acceptance of a winning bid from the intellectual property right holder. 17. The method of claim 16, Obtaining qualification information from potential buyers and sellers; And And allowing only qualified buyers and sellers to trade in the intellectual property listed in the exchange. &Lt; Desc / Clms Page number 17 &gt; 17. The method of claim 16, And collecting, analyzing, and disclosing intellectual property market activity data. &Lt; Desc / Clms Page number 21 &gt; 17. The method of claim 16, Wherein the exchange comprises a license / transfer market, an option market and a secured asset cash flow market. A computer readable storage medium operatively connected to a computer system for operating an intellectual property property exchange between a seller of a property and a purchaser, The computer system comprising at least one server computer and at least one client computer connected to the server computer by a global area network, The computer readable storage medium comprising: Storing in the database information about the intellectual property listed in the exchange; Searching in the database for information about intellectual property listed in the exchange according to one or more search criteria designated by the buyer; Receiving a bid from a buyer to obtain the rights of the intellectual property listed in the exchange; Transmitting the bidding information to the seller of the intellectual property right in which the bid is submitted; Receiving an acceptance of the bid from the intellectual property owner; And Computer instructions for transferring intellectual property rights from the merchant to the buyer in response to the seller accepting the buyer's bid. 32. The method of claim 31, Wherein the intellectual property rights include licensing or assignment of the intellectual property. 32. The method of claim 31, And computer instructions for evaluating the value of the intellectual property stored in the database and determining the risk assessment. 32. The method of claim 31, Computer instructions for transferring intellectual property rights from the merchant to the purchaser using a finishing service. 32. The method of claim 31, And computer instructions for transferring the intellectual property rights from the merchant to the purchaser using an escrow service. 32. The method of claim 31, Computer instructions for enabling said buyer to obtain insurance for intellectual property owned by said merchant. &Lt; RTI ID = 0.0 &gt; 31. &lt; / RTI &gt; 37. The method of claim 36, Wherein the insurance includes the purchase paid by the buyer of the intellectual property right and any prepaid royalty for the reimbursement when the intellectual property is invalidated by the court. 37. The method of claim 36, If the intellectual property is invalidated by a court, the additional costs of the purchaser in proceeding with the intellectual property and the investment shall be covered by additional insurance, intellectual property infringement insurance, agent fee insurance, and intellectual property And computer instructions for enabling the user to selectively purchase enforcement insurance. 32. The method of claim 31, Wherein the global area computer network comprises the Internet. 32. The method of claim 31, Wherein the database comprises information from a legal deed transferring intellectual property rights, marketing information provided by the seller, and technical classification information. 32. The method of claim 31, Computer instructions for automatically providing the buyer with access to information stored in the database based on the buyer profile provided by the buyer and the purchase history pattern of the buyer as recorded by the computer program, &Lt; / RTI &gt; 32. The method of claim 31, Receive one or more bids to obtain the rights of the intellectual property listed in the exchange from the buyer; Select a winning bid from bids received from a buyer according to a set of auction rules; Sending the winning information to the seller of the intellectual property right for which the bid is submitted; And And computer instructions for receiving an acceptance of the award from the intellectual property owner. 32. The method of claim 31, Obtaining qualification information from potential buyers and sellers; And Computer instructions for enabling only qualified buyers and sellers to trade listed intellectual property rights in said exchange. 32. The method of claim 31, Wherein the computer program comprises computer instructions for collecting, analyzing and publishing intellectual property market activity data. 32. The method of claim 31, Wherein the exchange comprises a license / transfer market, an option market and a secured asset cash flow market.