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By Ishani Ganguli

IP, going once, going twice, sold!

The eBay of intellectual property will launch this April, allowing Fortune 500 companies and mom-and-pop organizations to buy and sell technology patents both on the auction floor and online. The first large-scale, live intellectual property (IP) auction, initiated by Chicago-based merchant bank Ocean Tomo, will take place April 5-6 at the Ritz Carlton San Francisco and will be simulcast online. While only 15% of IP will be in the life sciences this time around, the second of the planned biannual auctions, to be held in October in New York City, will focus on biotechnology.



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