Patent Attorneys, Clients Banking on IP Brokerages

The increasingly hot market for intellectual property is creating a new kind of player -- IP lawyers who have fled their firms to start brokerages for patents. Lawyers are setting up "IP investment banks" that buy and sell patents, and advise companies on new ways to monetize their IP portfolios. "It's such a unique and really cutting-edge area," said Stephen Knauer, a former in-house attorney who joined Ipotential last year. Observers say the nascent industry has plenty of room for more IP advisory shops.

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