IP3 2016 was a fixed price purchasing programme where sellers give a ‘buy it now’ price for their assets, giving them an easy way to streamline the process of selling patents with a fixed price, rapid response model.
According to AST CEO Russell Binns, IP3 2016 was a success, with “a lot of demand from both buyers and sellers on the programme and requests to do it again”.
IP3 2017 will continue with last year’s fundamental principles, while adding new modifications based on member and market feedback. The 2017 programme will also target specific technologies, including the internet of things, content delivery systems and networking.
Binns said this enhanced direction will lead to a “very focused and efficient selection process for patent acquisitions”.
John Mulgrew, global head of IP at Uber, which is a member of AST, said: “AST has been a strategic force in building defensive IP strategies for years, and I worked closely with them during my tenures at Microsoft and Shook, Hardy & Bacon, and with my new role at Uber, I am delighted to once again be a member of AST.”
“We found IP3 2016 to be very successful for us at Uber and look forward to being involved in AST’s IP3 2017.”
He added: “Last year’s IP3 proved that patent sellers are very interested in buying programmes that help eliminate friction in the secondary patent market and increase efficiency.”