A Brand New Kind of Patent Auction - ICAP Patent Brokerage Announces the First Ever Covenant Not to Sue Auction September 27-29, 2011 in Los AngelesBy Icap Patent Brokerage, PRNE
Wednesday, May 4, 2011
CHICAGO, May 5, 2011 - Los Angeles will be the site of a unique new kind of intellectual
property activity - one with global implications. It's the first ever
Covenant Not to Sue Auction to be held by ICAP Patent Brokerage, the world's
premier patent auction firm.
The auction will be held in Los Angeles September 27-29 and will use
Sequential Sequence Bidding. Sequential Sequence Bidding refers to a bidding
method where participating bidders place bids according to predetermined
fixed increments during designated rounds. At the end of each round, a
"winner-of-the-round" will be determined and the next round will begin. A
winning bidder for a lot is determined when only one bidder is eligible to
bid in a round.
A Covenant Not to Sue (CNS) is an agreement, drafted by a patent holder
that comprises a promise not to sue the counterparty for infringement of some
or all of the patent holder's patents. With increasing activity in the
complex world of intellectual property, the CNS has a unique power to
simplify - taking on a key role in corporate IP strategy.
"This auction comes on the heels of our $38.5 million dollar sale of the
Round Rock Research Covenant Not to Sue," notes Dean Becker, CEO of ICAP
Patent Brokerage. "Several exciting Covenants Not to Sue have already been
consigned for our September event."
ICAP Patent Brokerage is now actively accepting CNS submissions. The full
catalog of CNS up for auction will be made available in mid-August. For more
information, contact Dean Becker at Dean.Becker@us.icap.com or
About ICAP Patent Brokerage
ICAP Patent Brokerage (www.icappatentbrokerage.com) is the
intellectual property brokerage division of ICAP and the world's premier
patent auction firm.
ICAP is the world's premier interdealer broker and provider of post trade
services. The Group matches buyers and sellers in the wholesale markets in
interest rates, credit, commodities, foreign exchange, emerging markets,
equities and equity derivatives through voice and electronic networks. ICAP
plc was added to the FTSE 100 Index on 30 June 2006. For more information go
Cali Munoz of ICAP Patent Brokerage, +1-512-322-3938, Cali.Munoz at us.icap.com
Tags: Chicago, Icap Patent Brokerage, Illinois, May 5