DECEMBER 2008 / JANUARY 2009
Innovation on the auction floor
Managing Intellectual Property
Eileen McDermott asks James Malackowski, founder and CEO of patent auction company, Ocean Tomo, how he got here, what's in store for the future and what the new US president should do for innovation
| One-minute read |
| Jim Malackowski launched Ocean Tomo, the intellectual capital merchant banc firm, in 2003. In 2006, the company began hosting live IP auctions with the formation of Ocean Tomo Auctions. The company also has been successful advising businesses on IP valuation, licensing, buying and selling patents and has developed patent indexes, which track the value of IP-rich quoted companies. At Ocean Tomo’s October Fall Auction in Chicago, Malackowski suggested that Managing IP ask members of the IP community what they would do for US innovation if they were president. Here, in addition to polling the IP community on that question, we speak to Malackowski about the company’s growth, his stance on some key issues and his own priorities for the new US president. |
Why has Ocean Tomo been successful?
Ocean Tomo is somewhat unique in that we have brought together professionals with IP backgrounds and other complementary skills, such as traditional investment bankers, venture capitalists, bankruptcy experts, serial entrepreneurs and public investment experts. Although we have experienced some measure of success, we still have a lot of work to do to reach our internal goal as the consensus IP market maker and merchant banc firm. Ocean Tomo has benefited greatly from being at the right place at the right time. We have long recognised the importance of IP as a growing asset class and were fortunate to serve a unique role as an independent market maker and appraiser during a period of accelerated recognition of this fact. We were also willing to introduce new products and face the risk of failure. Each development we introduce to create a more liquid and competitive marketplace reinforces all of the work that preceded it and makes possible our plans for further growth. Importantly, the markets and tools we are developing have a significant benefit to parties on all sides of the transactions. We are optimistic that Ocean Tomo is well-positioned as an industry leader in shaping this evolution.
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