Responding to feedback from IP-owning companies, the License on Transfer Network has launched a patent sale marketplace for its 2,000 members to buy and sell assets on their own terms without brokers.
This is not the first time LOT has assisted its members who are shopping for assets. In September 2020, LOT partnered with AST to give LOT members a chance to buy patent portfolios before AST offered them through the brokered market. But this time, the non-profit has built its own solution. Ken Seddon, CEO of LOT Network, explains that he heard the most demand from its “unicorn” members whose revenue profiles exceed their patent portfolios, and Asian-based companies without significant US holdings.