Green intellectual property auction web site launched

A virtual trading floor designed to help developers of cleantech intellectual property (IP) find backers for their ideas was launched last week.

The auction web site, LynxStreet.com, said it was looking for both tangible and conceptual examples of intellectual property that could be matched with potential investors.

"In our research we realised there was a need for a central repository of green technology and innovation and a venue was required to attract investors and their intellectual property as well as the venture capitalists, corporations and governments with the means to implement them," said Ron Barenburg, chief operations officer at LynxStreet.com.

In addition to being an auction site for green patents, the site is also designed for those inventors who have patents pending that they want to sell, said Barenburg. "This is an important category because potentially it could save companies and/or governments considerable money in R&D that they do not have to spend," he added.

Another virtual trading floor is for raw concepts that have not yet got off the drawing board. It is aimed at those with environmental ideas but without the time, money, ability or patience to flesh them out into patent format, said Barenburg. "These thinkers are an important part of the process and companies and/or governments might want to buy their idea and employ them," he explained.

A "wanted" section also allows firms and investors looking for specific cleantech solutions to advertise their requirements, while a licensing section aims to help universities and professional organisations license their IP to manufacturers.

The company said the web site is currently in Beta mode, but is fully functional and ready for auctions.