SAN FRANCISCO, Feb. 18, 2015 /PRNewswire/ -- RPX Corporation (NASDAQ: RPXC), the leading provider of patent risk management solutions, today launched the RPX Open Patent Exchange Network (OPEN), aimed at providing visibility into patent transactions. Companies and other patent owners participating in RPX OPEN pledge to notify RPX and each other at least 45 days prior to agreeing to transfer patents to a non-practicing entity (NPE) which are sometimes called "patent trolls".
The inaugural participants include Apple Inc.; ARM Limited; Avaya Inc.; Canon Inc.; Cisco Systems, Inc.; Citrix Systems, Inc.; ESET, spol. s r.o.; IAC/InterActiveCorp; Limelight Networks, Inc.; Midatech Pharma PLC; Rackspace US, Inc.; RPX Corporation; Sonus Networks, Inc.; and SpaceCode. More companies are expected to join as the program gains momentum; a complete, updated list of participants is always available on the RPX OPEN website. There is no cost to participate in RPX OPEN.
"This is the first tangible, enforceable, and scalable mechanism for bringing visibility to patent transactions. We are excited to be laying the foundation for a 'multiple listing service' that allows companies potentially impacted by a patent sale to an NPE to contact the seller and negotiate a license or buy the assets before they are sold to an NPE," said John A. Amster, Chief Executive and Co-founder of RPX Corporation. "RPX OPEN aims to avoid litigation and help create a patent market with more efficient price discovery, more rational patent valuations, and lower transaction costs overall."
RPX research shows that more than two-thirds of the transacted patents sold by operating companies that were the basis for an NPE lawsuit were never visible to other companies until the lawsuit appeared.
To learn more about RPX OPEN and to participate, please visit: www.rpxopen.com
RPX Corporation is the leading provider of patent risk solutions, offering defensive buying, acquisition syndication, patent intelligence, insurance services and advisory services. Since its founding in 2008, RPX has introduced efficiency to the patent market by providing a rational alternative to litigation. The San Francisco-based company's pioneering approach combines principal capital, deep patent expertise, and client contributions to generate enhanced patent buying power. By acquiring patents and patent rights, RPX helps to mitigate and manage patent risk for its growing client network.
As of December 31, 2014, RPX had invested nearly $1 billion to acquire more than 5,000 US and international patent assets and rights on behalf of the more than 200 members of its client network in seven key sectors: automotive, consumer electronics and PCs, E-commerce and software, financial services, media content and distribution, mobile communications and devices, networking, and semiconductors.
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SOURCE RPX Corporation