PRINCETON, NJ, May 25, 2021 / PRNewswire / – AST, the member-driven cooperative and leading provider of proactive patent defense solutions, has announced the upcoming launch of IP3 2021 (industry patent purchasing program). IP3 connects patent sellers with AST member companies that span multiple industries. These include companies such as ASSA ABLOY, Avaya, Cisco, Dolby, Facebook, Google, Honda, IBM, Intel, Microsoft, Oracle, Philips, Salesforce, ServiceNow, Slack, Snap, Sony, Spotify, Twitter, Uber and Verizon, among others. . This exposure to some of the world’s biggest tech leaders offers sellers the opportunity to market their patents in the secondary market to a much larger audience than they could find on their own. This is the sixth year that AST has offered this program with the goal of simplifying sellers’ access to the secondary market by removing some of the common hassles that can accompany this process. IP3 has been carefully designed as a collaborative patent purchasing platform where the seller sets a fixed price and there is an established fixed term which results in a streamlined process.
This year’s program will solicit patents for sale at a fixed price across a broad group of technology areas. These 16 categories which can be found below have been prioritized by what we would like to see:
- Advertising and content distribution
- Cloud Computing and Web Services
- Artificial intelligence (AI) and machine learning (ML)
- Augmented reality (AR) and virtual reality (VR)
- Internet of Things (IoT) and smart home
- Blockchain and financial services
- Retail and e-commerce
- Health technology and health informatics
- Medical devices and imaging
- Automotive / Mobility
- Wireless and telecommunications
- Location-based services (LBS) and navigation
- Software and hardware
- Semiconductor manufacturing and equipment
- Industry and Manufacturing
- LED lighting and optoelectronics
Last year’s IP3 program received a record number of submissions from 365 vendors and closed 29 deals amid budget constraints and other challenges caused by Covid-19. IP3 2020 has generated a lot of interest from patent vendors and member companies including Cisco, Facebook, Google, Intel, Microsoft, Oracle, Snap, Twitter, Uber, and Verizon, among others. $ 2.85 million to acquire 31 patent families. AST launched IP3 in 2016 based on Google’s patent purchasing program in 2015, as AST was well positioned to deliver an industry-wide program that would foster a collaborative environment between companies. The technology categories will remain the same as last year.
Also in 2021, portfolios are listed on a non-exclusive basis until the final phase of IP3 2021. This means that patent sellers can continue to market their offerings during the IP3 program. But if a seller’s offer is still available during the last 8 days of the program, he must sell at IP3 if his price is met.
“This is our sixth IP3 program and it has been exciting to see the growth each year with new sellers, an increase in submissions and increased interest among AST members. These fixed-price, term-based programs offer many benefits for sellers and buyers and we look forward to another successful program, ” Russell W. Binns, Jr., CEO of AST. “Last year our members were pleased with the variety of submissions we received as more than half of the submissions were first-time submissions which boosted member participation in a difficult year. look to continue this trend this year and look forward to seeing many new and high quality patents during our June submission window. “
Binns added, “Our members often tell us that the opportunity to participate in programs like IP3 provides a unique opportunity to tap into group thinking and the wisdom of the crowd when it comes to buying patents, which makes makes it an efficient and productive tool. For this reason, we continue to evolve the IP3 program based on feedback from members and vendors. We want to make sure that we provide a simple, fast and efficient process that benefits both businesses. our members and the community of patent sellers. “
How to submit patents for sale
Patent sellers and brokers are invited to submit their patents for sale at a price they have set through the AST IP3 portal: www.ast.com/IP3 of June 21 to July 2, 2021. AST will review submissions in the technology areas described above for this IP3 tranche. Sellers need only identify the patent family and the fixed price at which they are willing to transact. Each submission must contain only related items, and preference will be given to single-family or related-family submissions.
AST’s preference is to review new patent portfolios, although vendors who have already submitted their patents to AST’s Standard program, where the price is negotiable, can also participate in IP3 2021 by forwarding their submission. For more information on how to forward submissions, contact us at [email protected]
At the end of the bidding period, AST and its members will review all bids and notify bidders if there is any interest in a purchase by September 27, 2021, if not earlier. AST will also inform bidders if a purchase via IP3 is of no interest as soon as possible, and no later than September 27, 2021. Once AST has contacted the vendors regarding the purchase of their patents, there will be additional diligence which will allow the transaction to close in the short term. It is expected that all transactions and payments will be completed by the end of 2021. From the time patents are submitted to September 19, bidders should let us know if their bid is sold and is no longer available or encumbered. After September 20, bidders must sell to IP3 if their price is met and they are informed of their intention to purchase by September 27, 2021.
For more detailed information on IP3 2021, please visit ast.com/IP3. All relevant IP3 documents, such as the applicable patent assignment agreement and terms and conditions can be downloaded here. Participating sellers are encouraged to consult a lawyer prior to their submission to fully understand the terms and conditions of this program. Throughout this process, AST reserves the right not to transact for any reason.
AST was founded in 2007 by four global high-tech companies as a member-driven cooperative to mitigate patent risk and operate on a not-for-profit basis. AST serves the world’s most innovative and recognized technology companies through cost-sharing patent rights acquisition; provides access to the most comprehensive database of patents available on the secondary market; offers quarterly market reports; and facilitates a community for thought leaders in intellectual property to interact and build business relationships.
AST members include over 40 leading global companies from a wide range of industries including ASSA ABLOY, Avaya, Cisco, Dolby, Facebook, Google, Honda, IBM, Intel, Microsoft, Oracle, Philips, Salesforce, ServiceNow , Slack, SNAP, Sony, Spotify, Twitter, Uber and Verizon. For more information on AST, please visit http://www.ast.com.
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SOURCE AST – Allied Security Trust