Patent auctions: A New Market for Technology Transfer

2011/05/20,By Kevin Nie, Anne Zhang, China IP,[Patent]

The recently concluded patent auction is a successful practice in exploring a new mode for technology transfer. Meanwhile, it sets a precedent in the competitive auction, in large patches, of intellectual property rights from the same technical field by domestic research institutes.
Unlike traditional means of technology transfer, such as agreement transactions or negotiated transactions, patent auction is characterized by a broader coverage, higher transparency and public bidding. However, there are many difficulties and risks in specific practices.
The patent auction was a response to the “Outline of National IP Strategy” and part of the practices in implementing the “Opinions on the IP Strategy of the Capital City”. As part of the “pilot exploration” of the Zhongguancun National Innovation Demonstration Zone, it means much to the improvement of the service system for technology transaction in China.
The auction marks the set-up of a standardized circulation platform for intangible assets, such as patents and technologies from research institutes, universities and other state-funded research institutions. A coordination mechanism is now in place that comprises technology transfer agencies, IP legal service providers and professional auction houses. During the auction, the modern service organizations played service and supportive roles for the field of scientific research and technology, and took a lead in experimenting with new transfer modes for intangible assets of research institutes and with the market-oriented exploration.

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