IPXI is almost ready to open a new public exchange of IP rights, allowing patent owners to publicly list and license rights to their technology in the form of Unit License Right™ (ULR) contacts. (IP managers will applaud their registration of the trademark.) Serving as an intermediary between IP owner and potential licensee, IPXI claims the new exchange will address current inefficiencies in the technology transfer system, ease and costs of deal-making being foremost, specifically IP valuation and legal transaction costs. “Each ULR purchased gives the buyer the right to use a pre-established unit of IP, for example the right to make and/or sell up to an established quantity of products covered by the patents in question.”
IPXI was created in 2009, so it has taken some time to line up the proverbial ducks. Last week they announced a successful round of funding, which they claim will be the only round needed. One of the investors is the Chicago Board Options Exchange. Patent owners who which to participate must become members of IPXI, joining Philips, Com-Pac International, Rutgers University, Northwestern University and the University of Utah.