There is much to be said both for and against the idea of patent auctions. Barry Evans and Gregory Dolin of Kramer Levin Naftalis & Frankel LLP's New York IP practice are pretty clear on where they stand, stating that "[patent auctions] are a good thing and they're here to stay." In their article on thedeal.com, Why patent auctions are here to stay, the pair points out that these auctions provide a better marketplace where multiple prospective buyers can compete for property, ensuring the highest return to the seller.

Joe Chernesky and Ron Epstein of consultancy IPotential disagree. In their case against patent auctions (also on thedeal.com), they argue that a fast-moving auction with multiple bidders might not offer the right atmosphere for potential buyers to conduct the kind of investigation that a $1 million bid would require.

The floor is open for more insight. Will patent auctions fizzle or will we see more of them? Let's face it, freepatentauction.com could use some competition. Though, it's worth checking out just for the "Chewing gum for fishes." — Baz Hiralal

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