Intellectual Property Trading: PrePat Auction - New Marketplace. Innovative Approach.
The PrePat Auction company is claiming a new niche in the global intellectual property market: the auctioning of patent applications. Inventors have the opportunity to sell rights to patent their inventions worldwide - in over 140 countries. Entrepreneurs can choose, buy out and patent innovations for small money to build their local businesses.
London, United Kingdom, June 22, 2011 --(PR.com)-- Additionally to the well known patent trade at live auctions, patent auctions today are experiencing a surge online. The PrePat Auction company is claiming a new niche in the global intellectual property market: the auctioning of patent applications.
“Today, there’s a big gap between the opportunities of the international patent law and its practical implementation,” says Yuri Neshitov, CEO of PrePat Auction.
Theoretically, any patent applicant can claim their invention in all 142 countries of the Patent Cooperation Treaty. Therefore the number of oversea patents could be much larger than the number of domestic ones. However, in 2007 only 0.8 million applications were registered in foreign countries against 1.1 million domestic applications.
The primary reason for this gap is the cost of the patent procedures. It is difficult to patent abroad inventions that have a high market risk and a low market potential. The PrePat Auction overcomes this problem. On this platform, new ideas are attracting attention and money on the earliest stages of the patent procedure.
The goal of the PrePat auction is to help inventors to sell their PCT based patent rights in countries where they cannot bring their ideas to market themselves. At the same time, entrepreneurs and small businesses are getting the opportunity to buy promising innovations at an early stage and at a low price.
Here is how it works: owners (assignees) auction their right to patent their invention in a number of foreign countries. Buyers worldwide purchase these rights for those countries where they are acquainted with the market and have the opportunities to commercialize the invention.
"Of course, the most profitable patents have never and will never be sold at an auction. But I believe, that among those small and middle size inventions that never get patented abroad there are valuable ideas that should be made accessible to the investor community worldwide," claims Mr. Neshitov.
About the PrePat Auction: the PrePat Auction runs the online auction for patent applications (http://www.prepatentauction.com). It is committed to serving independent inventors, entrepreneurs and technology businesses around the world.
The business model is protected by the patents.
Source: PrePat Auction Ltd.
http://www.prepatentauction.com
###
“Today, there’s a big gap between the opportunities of the international patent law and its practical implementation,” says Yuri Neshitov, CEO of PrePat Auction.
Theoretically, any patent applicant can claim their invention in all 142 countries of the Patent Cooperation Treaty. Therefore the number of oversea patents could be much larger than the number of domestic ones. However, in 2007 only 0.8 million applications were registered in foreign countries against 1.1 million domestic applications.
The primary reason for this gap is the cost of the patent procedures. It is difficult to patent abroad inventions that have a high market risk and a low market potential. The PrePat Auction overcomes this problem. On this platform, new ideas are attracting attention and money on the earliest stages of the patent procedure.
The goal of the PrePat auction is to help inventors to sell their PCT based patent rights in countries where they cannot bring their ideas to market themselves. At the same time, entrepreneurs and small businesses are getting the opportunity to buy promising innovations at an early stage and at a low price.
Here is how it works: owners (assignees) auction their right to patent their invention in a number of foreign countries. Buyers worldwide purchase these rights for those countries where they are acquainted with the market and have the opportunities to commercialize the invention.
"Of course, the most profitable patents have never and will never be sold at an auction. But I believe, that among those small and middle size inventions that never get patented abroad there are valuable ideas that should be made accessible to the investor community worldwide," claims Mr. Neshitov.
About the PrePat Auction: the PrePat Auction runs the online auction for patent applications (http://www.prepatentauction.com). It is committed to serving independent inventors, entrepreneurs and technology businesses around the world.
The business model is protected by the patents.
Source: PrePat Auction Ltd.
http://www.prepatentauction.com
###
Contact
PrePat Auction Ltd
Ilya Sukhotin
+44 (0)845 094 0566
www.prepatentauction.com
Ilya Sukhotin
+44 (0)845 094 0566
www.prepatentauction.com
Contact
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