IP3 2021, a Collaborative Fixed Price, Fixed Term Patent Buying Program by AST is Now Open
AST, the member-driven cooperative and leading provider of proactive patent defense solutions, has opened submission window of IP3 2021 (Industry Patent Purchase Program). IP3 has been carefully designed as a collaborative patent buying platform where the seller determines a fixed price and there is an established fixed term which results in a streamlined process.
NEW YORK, June 22, 2021 (Newswire.com) - IP3 connects patent sellers with AST's Member companies that span across multiple industries. These include companies such as ASSA ABLOY, Avaya, Cisco, Dolby, Facebook, Google, Honda, IBM, Intel, Microsoft, Oracle, Philips, Salesforce, Slack, ServiceNow, Snap, Sony, Spotify, Twitter, Uber and Verizon, among others.
This year's program will solicit patents for sale at a fixed price from an extensive group of technology areas. These 16 categories that can be found below have been arranged by priority of what we would like to see:
- Advertising & Content Distribution
- Cloud Computing & Web Services
- Artificial Intelligence (AI) & Machine Learning (ML)
- Augmented (AR) & Virtual Reality (VR)
- Internet of Things (IoT) & Smart Home
- Blockchain & Financial Services
- Retail & E-commerce
- Health Tech & Healthcare IT
- Medical Devices & Imaging
- Wireless & Telecommunication
- Location-Based Services (LBS) & Navigation
- Computer Software & Hardware
- Semiconductor Manufacturing & Equipment
- Industrial & Manufacturing
- LED Lighting & Optoelectronics
Also continuing in 2021, the portfolios are listed on a non-exclusive basis until the final phase of IP3 2021. This means that patent sellers may continue to market their offerings during the IP3 program. But if a seller's offering is still available during the last eight (8) days of the program, they must sell to IP3 if their price is met.
How to Submit Patents for Sale
Patent sellers and brokers are welcome to submit their patents for sale at a price they set via the AST IP3 portal: www.ast.com/IP3 through July 2, 2021.
Sellers need only identify the patent family and fixed price at which they are willing to transact. Each submission should contain only related assets, and a preference will be made for single-family submissions or related families.
At the end of the submission period, AST and its Members will review all the submissions and let the submitters know whether there is interest in a purchase by Sept. 27, 2021, if not sooner. Once AST contacts sellers about purchasing their patents, there will be additional diligence which will enable transaction closure in short order. It is anticipated that all transactions and payments will be completed by the end of 2021.
To obtain more detailed information including all pertinent IP3 documents, such as the applicable patent assignment agreement and terms and conditions for IP3 2021, please visit ast.com/IP3.
AST was founded in 2007 by four global high-tech companies as a member-driven cooperative to mitigate patent risk and to operate with no profit motive. AST serves the world's most innovative and recognized technology companies through the cost-sharing acquisition of patent rights; provides access to the most comprehensive database of patents offered in the secondary market; offers Quarterly Market Insights reporting; and facilitates a community for IP thought leaders to interact and form business relationships.
AST's Members include over 40 top 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.