Intellectual property exchanges and auctions: non-traditional mechanisms for technology transfer

Technology transfer through the sale and licensing of intellectual property exists amidst a constantly evolving rights environment. To adapt, new methodologies and players have come online, and the traditional world of the bilateral negotiation is now only a piece of the overall puzzle. Firms increasingly fill information gaps and reduce asymmetries in the marketplace by using nontraditional transfer tools such as technology exchanges, patent brokerages, patent aggregators, and intellectual property auctions. Each mechanism has its advantages and shortcomings, and the savvy firm or investor exercises due care before dipping its toes into these risky waters. This Chapter describes such technology transfer mechanisms with the goal of evaluating the success of recent players and providing some rules for assessing the outlook for this active marketplace. It emphasizes the need for awareness, as the growth of technology rights along with big data systems will only fuel interest and foster more creativity and experimentation in the future.