MENLO PARK, Calif., March 7, 2013 /PRNewswire/ -- ICAP Patent Brokerage announces the bidding procedures and registration process for the 18th ICAP Ocean Tomo IP Auction on March 19-20, 2013, at the Rosewood Sand Hill Hotel in Menlo Park, California.
Through its third party agent, Knobbe Martens Olson & Bear LLP, ICAP Patent Brokerage will be accepting sealed bids for the IP portfolios available for auction. Sealed bids may be submitted during the bidding period, which will open at 9:00 a.m. PDT on March 19, 2013 and close at 9:00 p.m. PDT on March 20, 2013.
Bidders will have two options for submitting bids at this auction. Traditional sealed bids will be accepted as usual. This auction will also feature a new bidding option called "step bidding". To submit a step bid, a bidder identifies a minimum bid amount ($X) and a maximum bid amount ($Y) in the structure shown below. In short, this option allows a bidder to ensure that they slightly outbid any competing bidder, up to a maximum bid.
Amount of bid (US dollars, in numbers):
[$X], or 10% more than any higher competing bid.
This bid shall not exceed [$Y].
Amount of bid (US dollars, in words):
[Minimum bid amount], or ten percent more than any
This bid shall not exceed [maximum bid amount].
For details about registration, bidding, and buying, including more information on step bidding, review the complete Bidding Procedures and Conditions of Sale.
Before participating in the auction, prospective bidders must complete a registration package. Contact Michelle Tyler of ICAP Patent Brokerage at (857) 241-3731 or via email at Michelle.Tyler@us.icap.com to receive registration materials and details.
Premiere Networking Event for the IP Community
In conjunction with the auction, the Spring 2013 Patent Symposium will be held on March 20, 2013, starting at 6:30 p.m. PDT. This is the first event of its kind hosted by ICAP Patent Brokerage in Silicon Valley, and the evening will include a networking cocktail reception, dinner, and featured speaker, Dr. Michio Kaku.
About ICAP Patent Brokerage
ICAP Patent Brokerage is a division of ICAP plc and the world's largest intellectual property brokerage and patent auction firm.
ICAP is the world's leading interdealer broker and provider of post trade risk and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. Through our post trade risk and information services we help our customers manage and mitigate risks in their portfolios. For more information, go to www.icap.com.
SOURCE ICAP Patent Brokerage