Earlier today Ocean Tomo and Sinofaith IP Group, co-creators of the Ocean Tomo Bid-Ask™ Market (OTBA), announced the closing of Lot 64, entitled Document Processing System, to an undisclosed buyer. This lot is comprised of four issued U.S. patents, four non-provisional patent applications and software code. The seven figure sale of this patent portfolio was completed in 10 days on the Ocean Tomo Bid-Ask Market.
InfoTech International, LLC, CEO Jack Craven, seller of Lot 64 shared his thoughts on the platform and process. “The Ocean Tomo Bid-Ask™ Market is a remarkable platform for the sale of IP and other assets,”
Mr. Craven continued, “We had an IP portfolio of patents, pending applications, and associated software source code that we no longer used in our products and decided to sell the lot. After exploring ways to monetize this myself, I realized that I had neither the time nor the expertise. So, I engaged the professionals at Ocean Tomo. The lot was listed and the OTBA team closed a buyer for the portfolio in less than 10 days. An added bonus to this efficient process is the fact that OTBA found a buyer for whom the value was seven figures. I remain very impressed with the OTBA team and they are now my go-to firm for other IP deals”.
Dean Becker, who oversees the Ocean Tomo Bid-Ask™ Market added that “Jack’s mindful and measured approach to setting the asking price for this portfolio helped facilitate the rapid closing, adding one more completed transaction data point and further building the transparency enabled by the Ocean Tomo Bid-Ask Market.”
Ocean Tomo Transactions, LLC posts the sale price for any publicly known patent transactions using the Ocean Tomo Bid-Ask™ Market platform. Submit public patent transaction data to the market here.
Visit the Ocean Tomo Bid-Ask™ Market to view the patents included in lots for sale and license across a wide variety of technology areas including:
The Ocean Tomo Bid-Ask Market is an open on-line platform to buy and sell patents. This market is an important step forward, both as a simplified solution for patent transactions as well as a source of information on patent pricing. The Ocean Tomo Bid-Ask™ Market uniquely combines the efficiency of an online platform with an experienced team of brokers fluent in both English and Mandarin. The market uses standard transaction documents and is open, transparent and free to view.