Issue: May 2006


Technology patent auction



Merchant banc focused on intellectual property assets announces that its landmark Spring 2006 technology patent auction has produced strong results for buyers and sellers alike with further transactions anticipated to close in the coming weeks

by John Larkin

Ocean Tomo, a leading independent merchant banc focused on intellectual property assets, today announced that its landmark Spring 2006 technology patent auction—the first-ever of its kind in the world—has produced strong results for buyers and sellers alike with further transactions anticipated to close in the coming weeks. Twenty six of the 78 patent lots available for auction were sold on the floor for $3,026,000 including the buyer’s premium—a success rate of 33%. Nearly 400 people attended the sold out event.

Bidding on 52 of the lots on Thursday did not meet the seller’s minimum reserve but were offered in anticipated post-auction private trading. A number of such lots reached terms off the bidding floor with additional value of $5,600,000, bringing event sales to more than $8.5 million. “I was told by our auctioneer Charles Ross to expect this two phase process for a first time event and he was right”, states James E. Malackowski, Ocean Tomo’s President and Chief Executive Officer. Ocean Tomo has been given post-auction or Phase 2 indications of interest on an additional 22 lots. “I anticipate that Phase 2 could last another one to two weeks”, explained Andrew Ramer, Director of the Auction.

The Ocean Tomo Spring 2006 Live Patent Auction, held April 5 and 6 at The Ritz Carlton San Francisco, was a groundbreaking experiment in the realm of IP transfer. Never before have so many high-value technology patents from so many sources been brought to market in a single live sales setting. Successful sellers of patents include Siemens, 3COM and Schlumberger.

“The success of this pioneering event can be measured not only in terms of value received by our buyers and sellers, but also in the immense appeal of free market IP transfer,” said Malackowski. “We believe The Ocean Tomo Spring 2006 Live Patent Auction has validated a new form of commerce for intellectual property that will resonate and grow for the foreseeable future.”

Once all post event transactions are complete, Ocean Tomo plans to release specific sale information by Lot to the extent permitted by buyers and sellers.

The next Ocean Tomo Auction, already set for October 25 and 26, 2006 in New York City, will feature an expanded lineup of IP asset classes including trademarks and life sciences patents. “We are thrilled to have this first event experience. We will continue to work aggressively with sellers on reserve pricing to close most, if not all, of the transactions on the floor in New York. This has been a learning experience for the industry and we have a number of new ideas which we will incorporate into the fall event,” states Malackowski.

For more information about The Ocean Tomo Fall 2006 Live Patent & Trademark Auction, (312) 377-4851 or visit www.oceantomoauctions.com.


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