Patents owned by Texas companies Kimberly-Clark Corp. and Freescale Semiconductor Inc. will be on the auction block Thursday, along with about 450 other patents owned by various corporations and individuals, who will use the unusual live event to raise cash from their patents.
Organizers of the event, to be held at a San Francisco hotel, say it will be the nation’s first-ever live, multicompany patent auction. Patents from 25 different sellers will be for sale at the auction in 78 different lots, says Andrew Ramer, director of auctions for Ocean Tomo LLC, the Chicago-based merchant bank that organized the live patent auction through wholly owned subsidiary Ocean Tomo Auctions.
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