The Ocean Tomo Bid-Ask Market® (OTBA) platform is an online platform able to quickly clear patent transactions and offers a solution for buyers and sellers of patent portfolios where a simplified process is important.
Ocean Tomo, a part of J.S. Held, created Bid-Ask market to further enhance intellectual property (IP) liquidity and transaction transparency. The Bid-Ask market serves a broad community of active buyers and sellers, providing a platform to purchase or sell patents and patent applications globally.
To learn more about the Bid-Ask market, visit OceanTomoBidAsk.com.
Traditional auction markets are seller driven – buyers are limited to what is offered for sale. The Ocean Tomo Bid-Ask market equally services buyers and sellers. Buyers can now efficiently post anonymous bids resulting in prompt notification of the patent owner by our transactions team. Further advancing industry transparency, all offers to buy (“Bids”), offers to sell (“Asks”), and final transaction prices are posted. We list the sale price for all publicly known patent transactions, making the Ocean Tomo Bid-Ask Market the only true global patent price discovery platform. Data submissions for verified patent sales are now being accepted.
Additional benefits of the Ocean Tomo Bid-Ask Market include:
All Bids and Asks are placed online or through a voice broker utilizing standard processes and transaction documents.
Patent owners who wish to sell independent patents, a patent family, or a portfolio first complete an Ocean Tomo Seller Agreement which contains specific terms for the sale such as the inclusion of future related assets or retention of a license back. Assets accepted are then given a transaction serial number and assigned a virtual data room in which the seller may disclose further details. The targeted purchase price (the Ask) is then posted with an identifying color indicating whether it is a single patent sale, patent family sale, or portfolio sale.
Buyers must complete an Ocean Tomo Bidder Agreement which includes credit verification. This verification must meet predetermined standards set by Ocean Tomo in order to bid. Once the buyer is approved, Ocean Tomo assigns a virtual paddle number. The buyer provides Ocean Tomo Transactions their opening bid which is posted online. A maximum bid may also be shared in confidence with Ocean Tomo Transactions, facilitating a more rapid auction process. The applicable patent owner is promptly notified of the interest in their property without disclosing the identity of the bidder. Under the Bidder Agreement, Buyers acknowledge that Ocean Tomo Transactions may place bids against the reserve price.
The Ocean Tomo Bid-Ask market meets sellers’ demands for low transaction costs, serious buyers, and IP brokering assistance to close sales on acceptable terms. Sellers are assigned a unique transaction serial number for which bidders are given a corresponding virtual paddle number, eliminating confusion as to which assets are being pursued. Bidders may only enter bids after completing a Bidder Agreement, which includes a strict credit review by our team. All Bids placed are contractually binding; the Ocean Tomo Bid-Ask market team handles the remainder of the transaction.
The Ocean Tomo Bid-Ask market addresses the primary concerns for all buyers: patent pricing, buyer anonymity, confidentiality, and transaction efficiency. The Ocean Tomo Bid-Ask market team provides aggregate pricing data for patent transactions, thus increasing the transparency of pricing for all interested parties. All potential buyers can browse the activity levels and Bid-Ask spreads for individual patents, patents within a family, foreign patents and applications, and similar patents. Like the real estate market, Ocean Tomo Bid-Ask market enables potential buyers to assess a patent’s value based upon all Bids and Asks posted for comparable assets. Ocean Tomo Bid-Ask Market provides effortless price discovery through a systematic review of comparable transactions.
Whether starting a new business or expanding into a new product category, statutory IP rights can provide both a competitive advantage and reduce the risk of patent assertion from others. Because the time from application to patent issuance can take up to five years or more, it may be beneficial to assemble and acquire an existing portfolio of issued and in-force patents along with related maturing applications. We assist companies to do exactly that through our Innovation Footprint™ program facilitated by the Ocean Tomo Bid-Ask market.