Ocean Tomo Gains Ground With Patent Auction

Law360 (October 31, 2007, 12:00 AM EDT) -- Merchant bank Ocean Tomo sold half of its patent lots and took in nearly $11.6 million in total sales from its October technology patent auction in a sign that buyers are starting to warm up to the IP transaction event.

The company held its fifth patent auction on Oct. 25 in Chicago, and out of the 75 patent lots offered, 37 were sold on the floor and one immediately after the open-bidding session, for a transaction success rate of 51%.

The result was an improvement on its first auction, held last April, when Ocean Tomo sold just a third of its...

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