By Sarah J. Duda and Benjamin Urban of McDonnell, Boehnen, Hulbert & Berghoff LLP
Sarah J. Duda, an MBHB associate, is an experienced patent attorney with a broad background in prosecution and litigation. Benjamin Urban was a 2012 summer associate at MBHB.
Underutilized patents are holding intellectual property owners ransom to the tune of $1 trillion dollars annually.1 The solution? Monetize valuable intellectual property (IP) assets on the open market, and see exactly how much your IP is worth. Such a strategy is now possible through a new Chicago-based exchange called the Intellectual Property Exchange International (IPXI), which allows IP rights to be bought and sold as unit license right™ (ULR™) contracts on an open market.2
MBHB does not endorse, promote, or recommend any services or products offered by IPXI, and cannot guarantee the accuracy or completeness of such information presented here regarding any services or products offered by IPXI or of IPXI itself.
The Metes and Bounds of IPXI
IPXI, like many exchanges, provides a marketplace that brings together buyers and sellers. However, instead of offering stocks and bonds, IPXI offers ULR contracts.3 A ULR contract represents a non-exclusive license for an individual unit of IP or a bundle of IP.