CHICAGO - Tuesday, December 13th 2011 [ME NewsWire]
(BUSINESS WIRE)-- The Intellectual Property Exchange International, Inc. and related entities (IPXI) announced today commitments from initial Founding Member corporations and universities to sponsor Unit License Rights™ Contracts (ULR Contracts).
ULR Contracts are the initial product to be offered on the Exchange. ULR Contracts transform private licensing of technology into tradable products, allowing for improved market transparency, streamlined technology transfer and increased efficiency.
“ULR Contracts enable IP holders like Philips to more efficiently monetize patents and other IP brought to the market through non-exclusive licensing, while also allowing buyers to purchase at market-established prices,” said Ruud Peters, Executive Vice President and Chief Intellectual Property Officer of Philips.
Each ULR Contract purchased gives the buyer the right to use the IP offered for a pre-established number of instances in the manufacturing and/or sale of a product or service. Simply stated, ULR Contracts are a more efficient approach to IP monetization and licensing.
According to IPXI President and CEO, Gerard Pannekoek, “The initial commitments from Unit License Rights Contract issuers have an aggregate targeted market value in excess of $250 million with numerous additional company portfolios in various stages of the submission process.”
Philips, the world leader in healthcare, lifestyle and lighting, joins IPXI as a Founding Members of the Exchange. As a Founding Member, the company has committed to issue one or more ULR Contracts having an aggregated target market value of $50 million or more.
“The right of Founding Members to be appointed to the IPXI Rules Committee and serve as a representative voice for our industry is very important to Philips,” said Peters.
Com-Pac International, a leader in the design, manufacture and distribution of high performance, flexible packaging products for specialized applications in the medical, food service and industrial markets, joins the Exchange as a Corporate Founding Member.
Also joining IPXI as Founding Members of the Exchange are Rutgers University, Northwestern University and the University of Utah. As University Founding Members, they have the right to be appointed to the IPXI Rules Committee and have committed to Sponsor ULR Contracts on the Exchange.
Founding Membership, available to companies, universities, private and national labs is available through the start of trading, targeted for 2012.
Joining the Exchange as a Regular Member is Caisse des Depots, Propriété Intellectuelle. Regular Membership is open to companies, universities, private and national laboratories seeking to Sponsor or purchase ULR Contracts on the Exchange. Regular Membership does not require a commitment to issue ULR Contracts.
An additional class of membership is Associate Member. Any law firm, IP Advisor, valuation firm, prior art search firm, IP broker, or other IP service provider that will not directly sponsor or purchase ULR Contracts may become an IPXI Associate Member, making them eligible to participate in the governance of IPXI through its committee structure.
IPXI provides global corporations, small and medium sized enterprises, universities as well as public and private labs essential price transparency and enhanced efficiency for non-exclusive technology licensing.
About IPXI
IPXI is the world’s first financial exchange focused on Intellectual Property. 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 its 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.
IPXI is funded by a group of U.S. and European investors, including CBOE Holdings, Inc. (Nasdaq: CBOE), parent of the Chicago Board Options Exchange (CB0E), the largest U.S. options exchange and creator of listed options, and Royal Philips Electronics (Philips), the world leader in healthcare, lifestyle and lighting.
Contacts
IPXI
Media Contact:
Kristi L. Stathis
+1 312 377 4862
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