In April 2006, Ocean Tomo, LLC held what it described as the “world’s first ever live patent auction.”1 Since then, it has held nine more, each of which has been widely publicized. As with all auctions, the purpose of the Ocean Tomo auctions has been to facilitate the expeditious and fair transfer of patent rights. The frequent and regular collection of interested buyers and sellers is expected to convey speed, and the sheer magnitude of parties bidding, with ultimate prices tending toward “true value,” is expected to result in fairness.

Patent Auctions: How Far Have We Come?

Individual topic purchase: Selected