Market mechanisms applied to IPRs could see an “acceleration in the pace of innovation” according to an article in the NYTimes last week. The idea is that if a market place for patents could develop, there could be a decrease of patent litigation. Independent inventors could sell off their patents in the hope they would receive a “faster, simpler and less risky payoff“.
The Rational Patent Exchange was quoted in the article as an illustration of one of the emerging players in this market. The long-term vision of the organisation is to ensure:
“the patent holder is fairly compensated, but the corporate users have access to technology with minimal transactional costs”