The median asking price for all asset types, including U.S. and foreign patents and applications sold through the brokered patent market, fell during the quarter to about $108,000, compared with about $167,000 in the second quarter of the year, according to a new report.
The median asking price for U.S.-issued patents was $200,000 during the quarter, down from about $250,000 in the prior quarter. That is the lowest median asking price for U.S.-issued patents in the brokered market since the fourth quarter of 2015, according to the data, released by Richardson Oliver Law Group LLP.
Patents and patent applications for connected cars, fiber optics, digital cameras, and traffic data were among those sold through the brokered patent market during the third quarter of 2016.
This snapshot into the brokered market provides a glimpse at where the private sector believes which path innovation is set to take. While the asking price decline is certainly noteworthy, it could be seen as a strong signal that companies are becoming more focused on their innovation lifecycle, and thus, more confident in their ability to patent properly and bring the invention to market.
As far as the sectors, it seems to point toward a boom in autonomous driving. Every category type listed could be used to help bring autonomous vehicles to market, and the fact that these types of patents have been exchanging shows how bullish the industry is in its outlook.