Ocean Tomo opens Second Europe IP auction

Ocean Tomo has released its catalogue for its European IP auction due in Amsterdam in June 2008.

The auction that will be conducted by Ocean Tomo Auctions will have IP assets under 40 main lots. These include domain names, patents relating to wireless electronic payment systems, video compression technology and encryption technologies, among others.

The IP assets on auction will be "grouped into 15 categories including: online & mobile commerce; digital media systems & management; computer systems & software, lighting technology; information management & Data systems, Fluid handling: Location based systems & Logistics; Security & Authentication systems; Communications; Messaging: Electronics & Handheld Devices; Smart Cards; Manufacturing & Automation; telemedicine; and Domain names.

This mode of exchanging value for intellectual property has generated over US$ 70 million since 2003 which confirms its effectiveness as an IP exchange mechanism. For a long time, Governments in Africa have called for the transfer of technology to the continent in vain. The success of this model is one that business and government leaders on the continent should watch and learn from. Quite possibly, a variant of this auction system could stimulate the transfer of technology into and out of Africa.