Google, Microsoft, and IBM utilise AST’s IP3 programme for patent purchase
IPPro Magazine 25 January 2019 Reporter: Ben Wodecki
Almost 20 companies including Google, Microsoft, and IBM spent a collective $3 million on 32 patent families in 2018 through Allied Securities Trust (AST)’s IP3 programme.
AST’s IP3 program is a fixed price, fixed term, collaborative patent buying scheme.
Patents sold through IP3 in 2018 come from various technology areas, including blockchain, artificial intelligence/machine learning, and wireless.
Overall in 2018, 31 deals were acquired through IP3, which ranged from $2,500 to $255,000, with the average price of a patent family sold being $99,000.
AST’s CEO Russell Binns commented: “IP3 2018 was our most successful iteration of our fixed price, fixed term patent purchase program to- date, with more participants, more capital committed from our membership, and more patent families acquired.”
“Our membership, which includes many of the world’s leading technology companies, was very impressed with the wealth of this year’s submissions from patent owners and the results underscore the desire among our diverse group of members to collaborate on fixed priced, fixed term buying programs that provide a quick and efficient process for purchasing patents.”
IBM’s patent strategy and defence director, Andy Wojnicki, added: “AST’s third fixed price patent purchase program, IP3 2018, built on the experiences of AST’s two previous fixed price programs. The result was an even more efficient and cost-effective way to close patent transactions.”
“Transaction ease and cycle time, breadth of patents available to transact, and haggle-free terms and pricing are some of the key advantages of the IP3 approach.”
Any assets that weren’t acquired through IP3 2018 can still be purchased through AST’s standard buying process.
Original story may be found here.