With Little Fanfare, Ocean Tomo Holds Patent Auction

Law360, New York (April 10, 2006, 12:00 AM EDT) -- Gaining a lukewarm reception for its first-ever technology patent auction held at The Ritz Carlton in San Francisco, merchant banc Ocean Tomo sold just a third of its patent lots for total sales of over $3 million.

Out of 78 patent lots up for grabs, 26 were sold, for a success rate of 33%. Ocean Tomo said 22 of the remaining 52 lots, which did not meet the seller’s minimum reserves, are now being considered for post-auction private trading.

The two highest bids were for a...
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