Boston, MA 07/08/2014 (wallstreetpr) – Xerox Corp (NYSE:XRX) is planning to auction as many as 239 patents. The sale is expected to generate millions of dollars for the Norwalk, Conn-based company, which could boost its 2Q or 3Q earnings.
The patents have been organized into lots bases on categories such as audio communication, touchscreen, Web content, networking and print systems.
The company has hired ICAP Patent Brokerage to help with the patent auction. According to ICAP estimates, each lot could fetch between $1 and $10 million in the sale. The patents are said to cover technologies in about 26 fields.
Bidding for the patents is expected to take place between July 24 and 29.
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Xerox Corp (NYSE:XRX) and its subsidiaries receives about 1,000 U.S. patents annually. The company has more than 12,000 active patents in the U.S. Xerox uses the technologies to expand its product and service offering, licenses the same and also sells them where appropriate as in the latest case.
According Sophie Vandebroek, the company’s Chief Technology Officer, they always seeks to return the best value on innovation investments and the patents earmarked for auction reflect that commitment.
The patents that have been selected for auctioning this month were developed in the company’s five global research centers, which include Xerox Research Center in Webster. The company said about a quarter of the patents to be sold was developed at the Webster research facility.
Xerox Corp (NYSE:XRX) usually sells its patents individually or in groups, and the latest move will become the first time that the company is offering a large patent portfolio of auction.
Perhaps that is why some experts have doubted the rationale behind the massive patent auction. According to Mark Peterson, founder and CEO of Robinwood Consulting, an intellectual property consulting firm, the project to auction 239 patents by Xerox Corp (NYSE:XRX) is suspect. He thinks that the company has either lost the people who could have helped it in licensing the patents, or the patents don’t have much in them.
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