PRINCETON, N.J., Sept. 13, 2017 /PRNewswire/ -- Attention patent owners - IP3 2017's submission window closes on Sept. 30, 2017! AST, the leading provider of proactive patent defense solutions, recently launched IP3 2017, a fixed price, fixed term, collaborative patent buying program. The submission window, which opened on Aug. 1 will officially close on Sept. 30, 2017, at 11:59 p.m. EDT. The program provides patent owners access to all AST Members – dozens of the world's most successful companies across multiple industries, such as information technology, software, semiconductors, communications, automotive, health tech, and social media – including Ford, Google, Honda, IBM, Microsoft, Oracle, Philips, SAP, Sony and Uber.
AST is already seeing a great deal of interest in IP3 2017 from patent sellers, and the submission period comes on the heels of an extremely active summer in the patent marketplace.
"We are pleased with the submissions we have received so far for our IP3 2017 Program, where a majority of the assets are from new submissions we haven't seen before at AST — a clear indication of the growing interest in fixed-price, time-limited patent purchase programs," said Russell W. Binns, Jr., CEO of AST. "Our IP3 2017 Program comes at an especially active period for the patent acquisition market. We have seen a much greater number of assets for sale in recent months than is typical, with a larger portfolio size. Based on this trend and our discussions with a variety of patent owners, we anticipate a robust closing for our submission period and look forward to a successful acquisition selection process for our Members and sellers later this fall."
IP3 2017 builds on the success of 2016's IP3, a first of its kind industry program designed to give sellers an easy way to access the secondary market by streamlining the process of selling patents with a fixed price, rapid response model. Open to its full Membership, AST plans to make fixed priced purchasing an ongoing part of its business, offering different installments of the Program to patent sellers, each one targeting specific patent areas and technologies.
IP3 2017 focuses on the following technologies:
- Internet of Things
- Content Delivery
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: http://ast.com/ip3 through Sept. 30, 2017. AST will only consider submissions in the specific technology areas outlined above for this installment of IP3. Submissions outside of these areas will be routed to AST's Standard Purchase Model. Sellers need only identify the patent family and price at which they are willing to transact. Each submission should contain only related assets; 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 Nov. 21, 2017. 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 beginning of 2018.
More detailed information about IP3 2017 can be found at http://ast.com/ip3 including a link to the submission form, the applicable patent purchase agreement, and other important details. There are also terms and conditions that you should make sure you fully understand before participating. Participating sellers are encouraged to consult with an attorney prior to their submission. Throughout this process, AST reserves the right not to transact for any reason.
AST is the leading provider of proactive patent defense solutions. We offer a highly efficient, cost-effective and proven method of mitigating the risk of patent assertions and litigation by enabling our Members to collectively purchase assets available on the open market. Because we are an independent, not-for-profit cooperative, we provide a trusted and fully transparent way for Members to analyze patent purchase opportunities including triage, evaluation and acquisition services. AST's Members currently include top global companies from a wide-range of industries including Ford, Google, Honda, IBM, Microsoft, Oracle, Philips, SAP, Sony and Uber. For more information on AST please visit http://www.ast.com.