The New Patent Intermediaries

نویسنده

  • David B. Yoffie
چکیده

Some assets are traded in liquid markets, at transparent prices, with the help of many thriving intermediaries: houses and apartments, stocks and other financial products, books, DVDs, electronics and all sorts of collectibles. Intellectual property (IP) in general and patents in particular (the focus of this paper) are not among those assets (Gans and Stern (2010)). The patent market consists mainly of bilateral transactions (sale or cross-licenses) between large companies, privately negotiated and might involve hundreds or thousands of patents. Outside of these bilateral deals, patent sellers or licensors and patent buyers or licensees have a hard time finding each other. There is no eBay or Amazon or NYSE or Kelley’s Blue Book equivalent for patents, and when buyers and sellers do find each other, they usually negotiate under enormous uncertainty: prices of similar patents vary widely from transaction to transaction and the terms of the transactions (including prices) are often secret and confidential.

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تاریخ انتشار 2012