AST, the member -driven cooperative and leading provider of proactive patent defense solutions, has announced the upcoming launch of IP3 2022 (Industrial Patent Purchase Program). IP3 has been carefully designed as a collaborative patent purchasing platform where the seller determines a fixed price and has an established fixed term resulting in a streamlined process.
PRINCETON, NJ – May 25, 2022 – (Newswire.com)
AST has announced the upcoming launch of IP3 2022 (Industrial Patent Purchase Program), which connects patent sellers to AST Member companies covering multiple industries. This includes companies such as Avaya, Cisco, Dolby, Google, Honda, IBM, Intel, Meta, Microsoft, Oracle, Philips, Salesforce, ServiceNow, Snap, Sony, Spotify, Twitter, Uber at Verizon, Among others. This exposure to some of the world’s largest technology leaders gives sellers the opportunity to market their patents in the secondary market to a wider audience than what they can find themselves. This is the seventh year AST has offered this program with the goal of simplifying sellers ’access to the secondary market by eliminating some of the common inconveniences that may accompany this process. IP3 has been carefully designed as a collaborative patent purchasing platform where the seller determines a fixed price and has an established fixed term resulting in a streamlined process at no cost for the seller.
This year’s program will seek patents for sale at a fixed price from a broad group of technology fields. These 16 categories found below are sorted by the priority of what they want to see:
- Automotive/ Mobility
- Semiconductor Equipment and Manufacturing
- Computer Software and Hardware
- Cloud Computing and Web Services
- Advertising and Content Distribution
- Artificial Intelligence (AI) and Machine Learning (ML)
- Augmented (AR) and Virtual Reality (VR)
- Internet of Things (IoT) and Smart Home
- Wireless and Telecommunication
- Blockchain and Financial Services
- Retail and Ecommerce
- Health Tech and Healthcare IT
- Medical Devices and Imaging
- Location Based Services (LBS)/ Navigation
- Industrial and Labor
- LED Lighting and Optoelectronics
The IP3 program last year received submissions from 261 sellers, and AST acquired 34 patent portfolios worth $ 3.86 million. AST launched IP3 in 2016 based on Google’s 2015 patent acquisition program because AST is well suited to offer an industry-wide program that will promote a collaborative environment among companies. They see increased interest for patents related to Automotive, Semiconductor, Cloud, AI/ML and AR/VR technologies, along with the general high-tech areas listed above. Also continuing into 2022, portfolios will be listed on a non-exclusive basis until the final phase of IP3 2022. This means that patent sellers can continue to market their offers during the IP3 program. But if the seller’s offer is still available in the final weeks of the program, they should sell at IP3 if their price is met.
“This is our seventh IP3 program, and each year brings new sellers and patents of interest to our Members. These fixed-price, fixed-term programs offer many benefits for both sellers and buyers, and we look forward to another successful program., ”Said Russell W. Binns Jr., CEO of AST. “Our Members are always looking for different quality submissions, and last year more than half of the submissions were first time submissions, which resulted in greater Member involvement. We look forward to continuing that trend this year and we hope to see many new and high -quality patents during our June submission deadline.“
Binns added: “We often hear from our Members that having the opportunity to participate in programs like IP3 provides a unique opportunity to take advantage of the group’s thinking and the wisdom of the majority when it comes to purchasing patents, and makes for a great, productive buying experience. We strive to provide an easy, fast and efficient process that benefits the business of our Members and the patent seller community.. ”
How to Submit Patents for Sale
Patent sellers and brokers are welcome to submit their patents for sale at the price they set through the AST IP3 portal: www.ast.com/IP3 from June 20 to July 1, 2022. AST will consider submissions in the technology areas outlined above for this IP3 installment. Sellers simply need to specify the patent family and fixed price at which they are willing to transact. Each submission must contain only related assets, and a preference will be made for single family submissions or related families.
AST prefers to review new patent portfolios, although sellers who have already submitted their patents to AST’s Standard program, where pricing is negotiable, can also participate in IP3 2022 through transferring their submission. For more information on how to transfer submissions, contact them at [email protected]
At the end of the submission period, AST and Members will review all submissions and notify submitters whether there is interest in a purchase or not prior to Set. 23, 2022. When AST contacts sellers about purchasing their patents, there will be additional diligence that will allow closing the transaction in short order. It is expected that all transactions and payments will be completed by the end of 2022. From the time patents are submitted until Sept. 6, submitters must notify us if their offer has been sold and is no longer available or involved. From Set. 7, IP3 submitters must sell if their price is met and they will be notified of the purchase intent before Set. 23, 2022.
To get more detailed information about IP3 2022, please visit ast.com/IP3. All relevant IP3 documents, such as applicable patent assignment agreements and terms and conditions can be downloaded from the website. Participating sellers are encouraged to consult an attorney 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. For any other questions, please visit the website or send an email to [email protected].
About AST
AST was founded in 2007 by four global high-tech companies as a cooperative-driven member to mitigate patent risk and to operate without a profit motive. AST serves the most innovative and recognized technology companies in the world by sharing the cost of acquiring patent rights; provides access to the most comprehensive database of patents offered on the secondary market; offers Quarterly Market Insights reporting; and facilitates a community for IP thought leaders to interact and build business relationships.
AST Members include over 40 leading global companies from a wide range of industries including Avaya, Cisco, Dolby, Google, Honda, IBM, Intel, Meta, Microsoft, Oracle, Philips, Salesforce, ServiceNow, Snap, Sony, Spotify, Twitter, Uber and Verizon. For more information, visit www.ast.com.
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AST Announces IP3 2022, a Collaborative Fixed-Price, Fixed-Term Patent Buying Program