We have reported extensively on the pending Intellectual Property Exchange International (“IPXI”), the world’s first proposed exchange for licensing intellectual property.
In an email blast sent Wednesday morning, Ian McClure, the Director at IPXI, indicated that the Department of Justice (“DOJ”) concluded an eight-month business review of IPXI and issued a Business Review Letter (“BRL”) that highlighted IPXI's benefits and efficiencies. Importantly, according to IPXI, the DoJ declined to take any enforcement position against the IPXI at this time, as it did not know if IPXI’s activities would raise competitive concerns after operating. The BRL noted several benefits to the IPXI model, including increased licensing efficiency, sublicense transferability and greater transparency.
IPXI apparently requested this review as an essential step prior to launching the new exchange. The email also indicated that the IPXI now is poised to announce shortly the official launch of the marketing period for its first offerings.
Gibbons will stay tuned about this exciting development ...
Jillian A. Centanni is an Associate in the Gibbons Intellectual Property Department.