Kyle Hoellger
Nov 11, 2014
•
Featured
Penn State to Auction Off 112 Patents
Penn State University is planning to auction off 112 of its patents spanning chemistry, engineering, and biotech. The school holds about 580 active patents, and Ron Huss, the Associate VP for Research and Technology Transfer, estimates that about 40% of them have been commercially licensed. Huss stated that Penn State is "...at the end of the rope..." with respect to monetizing some of their IP assets, and that they "...can't think of another way to market them, and so, we thought, let's try an auction."