As many as 239 patents in 26 different categories to be auctioned by the OEM, expected to generate millions of dollars.
Wall Street PR reported Xerox’s decisionto auction up to 239 patents in around 26 different technology fields, including audio communication, touchscreen, web content, networking and print systems; with each lot estimated to fetch between $1 million (€734,500) and $10 million (€7.3 million).
ICAP Patent Brokerage has been hired to help with the patent auction, with bids expected to take place between 24 and 29 July 2014.
It will be the first time Xerox has offered a large patent portfolio at auction, with the company usually selling its patents individually or in groups. This has caused some speculation that the company “has either lost the people who could have helped it in licensing the patents, or the patents don’t have much in them”, according to Mark Peterson, Founder and CEO of IP consulting firm Robinwood Consulting.
The OEM and its subsidiaries receive “about 1,000 US patents annually” and have “more than 12,000 active patents” in the country. The company’s Chief Technology Officer, Sophie Vandebroek, reportedly said that it “always seeks to return the best value on innovation investments and the patents earmarked for auction reflect that commitment”.