RPX OPEN(SM) Program Brings Visibility to Patent Transactions
February 18, 2015
RPX Corporation (NASDAQ: RPXC), the leading provider of patent risk management solutions, today launched the RPX Open Patent Exchange Network (OPEN), aimed at providing visibility into patent transactions. Companies and other patent owners participating in RPX OPEN pledge to notify RPX and each other at least 45 days prior to agreeing to transfer patents to a non-practicing entity (NPE) which are sometimes called “patent trolls”.
The inaugural participants include Apple Inc.; ARM Limited; Avaya Inc.; Canon Inc.; Cisco Systems, Inc.; Citrix Systems, Inc.; ESET, spol. s r.o.; IAC/InterActiveCorp; Limelight Networks, Inc.; Midatech Pharma PLC; Rackspace US, Inc.; RPX Corporation; Sonus Networks, Inc.; and SpaceCode. More companies are expected to join as the program gains momentum; a complete, updated list of participants is always available on the RPX OPEN website. There is no cost to participate in RPX OPEN.
“This is the first tangible, enforceable, and scalable mechanism for bringing visibility to patent transactions. We are excited to be laying the foundation for a ‘multiple listing service’ that allows companies potentially impacted by a patent sale to an NPE to contact the seller and negotiate a license or buy the assets before they are sold to an NPE,” said John A. Amster, Chief Executive and Co-founder of RPX Corporation. “RPX OPEN aims toavoid litigation andhelp create a patent market with more efficient price discovery, more rational patent valuations, and lower transaction costs overall.”
RPX research shows that more than two-thirds of the transacted patents sold by operating companies that were the basis for an NPE lawsuit were never visible to other companies until the lawsuit appeared.
To learn more about RPX OPEN and to participate, please visit: www.rpxopen.com