The following is excerpted from an October 28, 2010 article by Victoria Slind-Flor at Businessweek:
Yahoo! Inc., AT&T Inc. and the U.S. Energy Department are among the sellers offering patents at the Nov. 11 ICAP Ocean Tomo patent auction.
The auction, which will be held in California’s Napa Valley, presently has 149 lots for sale. The catalog, in a style akin to EBay Inc.’s Internet auction site, lists a “purchase- it-now” price in addition to an estimate of the anticipated auction selling price.
If past Ocean Tomo auctions are any indication of the present, most lots won’t be sold directly during the auction. A number will change hands quietly at the event, with no bidding taking place in the auction room.
Some patents sold at Ocean Tomo actions have been asserted against technology companies by their purchasers. In December 2008 Netflix Inc. and 12 other defendants were sued for infringing patent 5,890,152, which was sold for $1.07 million at an April 2008 auction. The patent was for a “personal feedback browser for obtaining media files,” according to the patent.
Read the full article here.