Seattle Patent Attorney | Seattle Trademark Lawyer

Ruttler Mills PLLC

Seattle Patent Attorneys and Trademark Lawyers

206-838-6400 Complimentary 15 Minute Consultation

Records Broken at Live Patent Auction

Jim Ruttler, Patent Attorney

Posted Monday, April 7, 2008 by Jim Ruttler

Ocean Tomo® held another live patent auction on April 4, 2008 in San Francisco, California. Total reported sales were $19 million with average lot sales of around $370k each. One lot in particular sold for a record $6.6 million, the largest price ever paid for a portfolio of patents at a live auction event.

Independent inventors, especially in the software and internet technology fields, are finding that the live auction format is making it significantly easier to market patents. After all, prior to the live auction format, inventors had the burden of navigating the bureaucracies of companies and negotiating for licenses. Corporations often found it more economical to infringe on a patent, rather than purchase or license it, knowing that an independent inventor lacked the resources to bring a patent infringement suit. Now with live auctions, the jig is up. Companies can no longer infringe without recourse as a patent can quickly move from an independent inventor’s hands into a large company’s hands. And, the problem with a large company is that it does have the means to bring an infringement suit. Thus, companies that that previously ignored patents of small time inventors are now forced to bid or suffer the consequences.

Ocean Tomo Website

Ruttler Mills PLLC
One Union Square, 1730, 600 University Street, Seattle, Washington 98101 US
Phone: (206) 838-6400

News and Announcements

Wednesday, May 18, 2016
New Industry Patent Purchase Program (IP3) learn more +
Sunday, May 15, 2016
Federal Circuit Confirms Software Eligibility learn more +
Friday, March 4, 2016
European Unitary Patent Gold Rush learn more +
Sunday, February 14, 2016
Patent Attorney Leif Stordal Joins Ruttler Mills learn more +
Tuesday, April 28, 2015
Ruttler Law is now Ruttler Mills learn more +