Penn State plans second patent auction

Over the last 10 years an average of 40 U.S. patents per year have been issued to the Penn State Research Foundation, Penn State's technology transfer agent. UNIVERSITY PARK, Pa, - Next month, for the second time this year, Penn State plans to auction some of its U. S. patents online. Winning bidders will get licensing rights to patents derived from faculty research in a broad range of technical fields. The first auction, held in April and believed to be the first of its kind in the nation conducted directly by a university, was not a huge financial success - only two patents were licensed out of 73 on offer. It was nonetheless judged successful by other important measures. "The auction has spawned many ongoing conversations with companies that hadn't known about our IP portfolio before," said Don Mothersbaugh , senior technology specialist at Penn State's Office of Technology Management.
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