CHICAGO, May 5, 2011 /PRNewswire/ -- Los Angeles will be the site of a unique new kind of intellectual property activity - one with global implications. It's the first ever Covenant Not to Sue Auction to be held by ICAP Patent Brokerage, the world's premier patent auction firm.
The auction will be held in Los Angeles September 27-29 and will use Sequential Sequence Bidding. Sequential Sequence Bidding refers to a bidding method where participating bidders place bids according to predetermined fixed increments during designated rounds. At the end of each round, a "winner-of-the-round" will be determined and the next round will begin. A winning bidder for a lot is determined when only one bidder is eligible to bid in a round.
A Covenant Not to Sue (CNS) is an agreement, drafted by a patent holder that comprises a promise not to sue the counterparty for infringement of some or all of the patent holder's patents. With increasing activity in the complex world of intellectual property, the CNS has a unique power to simplify - taking on a key role in corporate IP strategy.
"This auction comes on the heels of our $38.5 million dollar sale of the Round Rock Research Covenant Not to Sue," notes Dean Becker, CEO of ICAP Patent Brokerage. "Several exciting Covenants Not to Sue have already been consigned for our September event."
ICAP Patent Brokerage is now actively accepting CNS submissions. The full catalog of CNS up for auction will be made available in mid-August. For more information, contact Dean Becker at Dean.Becker@us.icap.com or +1-561-309-0011.
About ICAP Patent Brokerage
ICAP Patent Brokerage (http://www.icappatentbrokerage.com) is the intellectual property brokerage division of ICAP and the world's premier patent auction firm.
ICAP is the world's premier interdealer broker and provider of post trade services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, foreign exchange, emerging markets, equities and equity derivatives through voice and electronic networks. ICAP plc was added to the FTSE 100 Index on 30 June 2006. For more information go to http://www.icap.com.
SOURCE ICAP Patent Brokerage