Update: IPXI Gains Momentum as Five More Entities Join and $10 Million is Secured from Investors

Gibbons published an IP Law Alert this summer describing the forthcoming Intellectual Property Exchange International (“IPXI”). Along with providing background information about how the IPXI will monetize patents, and the process for listing an IP asset on the IPXI, this post discussed the growing pains associated with starting a financial exchange pegged to IP.

Since that posting, the IPXI has recently announced that it remains on track to begin operations in 2012 and has signed agreements with five entities: Philips, Com-Pac International, Rutgers University, Northwestern University and the University of Utah, to sponsor the Unit License Rights (ULRs) that are offered through the exchange. Additionally, IPXI has secured $10 million in additional funding from investors, including Philips and the Chicago Board Options Exchange. The IPXI was founded in 2009, but attracting licensees has been a challenge. Given the IPXI’s recent momentum, it will be interesting to see whether additional entities commit to the IPXI before its debut, or wait to commit until after the IPXI becomes operational.

Gibbons will continue to stay at the forefront of this, and other IP developments. For additional information about the IPXI, please go to the IPXI website at www.ipxi.com.