Intellectual Property has always been viewed as a very precious commodity for both individual companies as well as national economies. During recent years the ownership of IP rights has become an increasingly crucial factor in global business. Parallel to this there is an increasing tendency to establish an adequate market for IP rights.
Live auctions are, among others, an appropriate vehicle to foster the rise of a market for IP Rights. Compared to other such vehicles, live auctions have the advantage that decisions have to be made quickly, due to limited time. Hence live auctions lower the transaction costs for IP Rights.
