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World’s First Financial Exchange Focused on Intellectual Property Taps Former President & COO of Chicago Climate Exchange to Take the Helm
Monday, December 14, 2009
Gerard J. Pannekoek to Join Intellectual Property Exchange International (IPXI) as President and CEO
Chicago, IL -- The Intellectual Property Exchange International (www.IPXI.com), the World’s First Financial Exchange based on Intellectual Property, announced today that Gerard J. Pannekoek has joined the company as President and Chief Executive Officer of IPXI Holdings, LLC, parent to IPXI. In his previous position as President and COO of the Chicago Climate Exchange (CCX), Mr. Pannekoek was tasked to bring to market the world’s first multi-national and multi-sector exchange for reducing and trading greenhouse gas emissions. In less than twelve months, he established the firm’s infrastructure and trading operations ultimately leading to a successful initial public offering.
The Intellectual Property Exchange International provides an innovative approach to the commercialization of intellectual property rights or "IP". IPXI will leverage models used by other markets but instead of trading traditional commodities or equities, members, individual inventors, universities and corporations will trade contract rights in patents, trademarks and copyrights.
Dr. James Angel, Ph.D., of Georgetown University, who specializes in the structure and regulation of financial markets around the world, observes the great similarities between the launch of CCX and IPXI. "Both CCX and IPXI are pioneers in building new markets bringing price discovery and efficiency to large untapped asset classes. Pannekoek's experience in building a new exchange from scratch makes him the perfect candidate for IPXI."
Leslie Rosenthal, former Chairman of the Chicago Board of Trade (CBOT) and Managing Member of Rosenthal Collins Group, a leading Chicago-based Futures Commission Merchant adds, "Gerard is the perfect executive to lead the growth of IPXI. He has a proven track record in successfully developing and growing exchange and trading businesses, leading them to successful sale or public listing."
Intangible assets represent approximately 75% of market value, according to research conducted by Ocean Tomo, LLC, the Chicago based Intellectual Capital Merchant Banc® firm and co-founder of IPXI.
"Our history of valuing IP, pioneering the most advanced web-based patent data ratings and analysis platform, creating the Ocean Tomo 300(R) Patent Index (NYSE: OTPAT) and public auction marketplace for IP assets convinced us to create IPXI," explains James E. Malackowski, the firm's Chief Executive. Mr. Malackowski will remain Chairman of IPXI Holdings.
IPXI is ahead of schedule, having completed its three year development cycle early. "I am truly excited about joining the team to accelerate the sales effort," explains Pannekoek. With trading targeted to begin in the first quarter of 2010, IPXI already presents four initial products:
Unit License Rights™ Contracts – ULRs enable holders of intellectual property to more efficiently monetize patents and other intellectual property brought to the marketplace through non-exclusive licensing. ULRs transform traditional private licensing of technology into an exchange-traded product, allowing for market transparency, smooth technology transfers, and increased cost efficiencies. According to Pannekoek, ULRs are effectively "an IPO for inventors, for both large corporate R&D groups as well as individuals."
Enhanced Market Indexes – These provide the investment community access to IP-enhanced exchange traded funds (ETFs) based on popular stock indexes. By more heavily weighting companies that have strong IP, these ETFs provide much needed benchmarks and new portfolio options for financial and corporate communities.
Patent Value Indexes – PVIs track the performance of patented technologies owned by public and private companies, as well as the patents in a particular technology space, industry, country or region.
Qualified Equities – These provide a valuable measure of a company’s success as an innovator within its field. Companies seeking qualification undergo a rigorous certification process, including an independent assessment of the company’s IP value.
IPXI allows owners of IP to more efficiently monetize their assets while providing investors access to a new universe of trading, investment and arbitrage opportunities.
About Intellectual Property Exchange International, Inc.
Established in 2008, the mission of IPXI is to meet the price discovery, transaction, and data distribution needs of IP-owners, investors and traders, as well as other market participants by creating the central marketplace for IP assets and trading products. Through innovative product offerings, IPXI facilitates investment and risk management in IP-related assets, allows IP-owners to unlock the value of their assets, and creates efficient technology transfer markets to improve price discovery for IP-related assets and risks. By enhancing transparency in the marketplace, IPXI promotes a deeper understanding of the economics of innovation.
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