By Davel Foote of IpAuctions, Inc.
IpAuctions™ has had an increase in IP Bankruptcy auctions. A changing trend in business economies is attributed to this increase. As some companies are closing their doors and liquidating assets, others are trimming down to stay in business. During the 2011 year, we have had a rise in the number of Bankruptcy Trustees approaching us as an alternative to usual resources in monetizing and maximizing assets from bankruptcies with Intellectual Property.
With this increase have come challenges in knowing the how and what in liquidating IP as a result of bankruptcy. Research, verification and documentation will make the difference in whether you can successfully present and sell.
Patents (utility, most common patent) have a life span from application filing date. They are generally 20 years and applications filed on or after December 12, 1980 require maintenance fees every 3 ½, 7 ½ and 11 ½ years with the U.S.PTO to maintain the patent in force. If there is a continuation add-on to the patent, the date enforced and used will be the original filing date of the parent patent, the first in the chain. Patents that were in force or were issued on an application filed before June 8, 1995 have a term that is the greater of the 20 year from filing or 17 years from grant. Fees and lifespan are vital to the value of a patent. Is it patented in other countries?
Documented revenue in any form, including licensing will also affect t...