According to research from financial services provided American Express, U.S. historical data show that only a small fraction of commercially viable IP is being monetized. In response to this pessimistic finding, they have created an Intellectual Property Zone (IP Zone) designed to promote the advancement of the intellectual property (IP) marketplace, including patents, trademarks, software and other IP products.
Currently launching in beta, IP Zone will work with a closed group of buyers and partners to manage deal opportunities and conduct live deals. The full launch of the IP Zone is planned for later this year, when the platform will open to a broader number of businesses. Businesses will pay a membership fee to participate in the IP Zone, which also includes access to IP transaction courses, IP certifications and IP job training.
The IP Zone has been several years in development, with initial reports revealing a physical hub to be located in the Harlem area of New York City. The idea of creating a new platform for IP transactions came when American Express effectively “hit a wall” in executing on its strategy to create a revenue stream from its patent portfolio.
The IP Zone is partnering with technology incubator TechNexus, to offer the platform to its affiliates. Fluid Innovation, a leading Intellectual Property licensing and technology firm, has served as a strategic consultant and technology platform Developer. Columbia University and The Intellectual Property and Knowledge Management Taskforce, an IP-focused research group, are co-producing industry education courses about commercializing intellectual property for the Zone.
Additional information about the IP Zone offices and programs will be available later this year. You can "crowdsell" your patent on IdeaConnection.