MUMBAI, INDIA: CPA, the world’s top intellectual property (IP) management specialist and the leading provider of outsourced legal support services, in conjunction with Ocean Tomo, hosted India’s first ever “Live Intellectual Property Auction - Asian Simulcast and Symposium” in Bangalore, recently.

Nearly 65 lots of IP assets were offered for sale in 20 categories including smart cards, manufacturing and automation, online and mobile commerce, lighting technology, telemedicine, computer systems and software, digital media systems, domain names, security and authentication systems, messaging and electronics and handheld devices. Total sales for the live auction conducted in Amsterdam came to USD $12.6 Million (INR 544 Crore), including buyers premium. 

Bhaskar Bagchi, Country Head, CPA, India, said, “The Simulcast and Symposium gave us a fantastic opportunity to showcase the importance of making IP a readily usable business asset and provided us with a platform to pull together organisations and thought leaders to think about the future of IP. Working hand-in-hand with Ocean Tomo to deliver such a momentous event further validates our commitment to help corporations carefully manage, maximize and understand their patent portfolio.” 

The symposium attracted participants from academia, government, large corporations and SMEs and also featured prominent speakers and senior IP professionals addressing the importance of India as a global player in the IP marketplace.

Dipanjan Nag, director, Ocean Tomo, said, "This is the first time that we have organised such an event in India and the support has been overwhelming. Our associations with bodies and organizations such as the Department of Industrial Policy & Promotion (DIPP), Department of Information Technology and CPA will help us reach our goals of introducing a forum for facilitating the open and public exchange of Intellectual Property.”