Additionally, CBOE executive vice president Richard DuFour was named to IPXI’s board of directors.
CBOE said that this investment should allow IPXI to build out its infrastructure and facilitate the issuance of Unit License Right (ULR) contracts in 2012.
ULR contracts will be designed to allow intellectual property owners to monetize their patents using standardized contracts and transparent pricing, versus traditional bilateral licensing of patents.
CBOE executive vice president Richard DuFour said that intellectual property has an estimated $9 trillion market value, making it one of the largest US asset classes.
"The creation of standardized contracts should bring tremendous efficiencies to both buyers and sellers of intellectual property, much like CBOE’s introduction of exchange-traded options did in 1973," added DuFour.
