(as copied, for your information, from the NewIdeaTrade Site by iwishihad)
TRADING ON NEW IDEAS: FREE INTELLECTUAL PROPERTY EXCHANGE DEBUTS
New Online Forum Makes $100 Billion Industry Accessible
SAINT CLOUD, Minn.--Independent innovators often find it difficult to reach the global market because the traditional transfer of intellectual property is complicated, costly, fragmented, and time-consuming. However, a new web site hopes to change all that. Minnesota-based Global Commerce & Communication (GCC) this week debuts NewIdeaTrade.com, a free online forum for trading intellectual property including industrial property and copyrighted property. The intellectual property transfer market is estimated to be worth over $100 billion.
"There is a black hole when it comes to the affordable exchange of intellectual property among small businesses, research institutions, independent inventors, and the creative community. It is a vastly underserved market," says NewIdeaTrade.com board member Dr. Neil Armand.
There are several online marketplaces for Intellectual property but they cater mostly to large corporations, according to NewIdeaTrade.com founder Dr. Niaz Ahmed. These services often charge substantial browsing fees ranging from $500 to $5,000 per year. Additionally, there can be some level of involvement in transactions such as commissions of between 10 to 20 percent. By providing a central registry for small businesses, individuals, universities, government agencies, research institutions, and investors to find each other, NewIdeaTrade.com breaks down traditional geographic, industrial, and marketing barriers.
NewIdeaTrade.com is advertiser supported. Users must register to participate but there are no membership fees for buyers or sellers of intellectual property. NewIdeaTrade.com will post industrial property including inventions, trademarks, and patents. Members may also post copyrighted works for sale or license including: literary, musical, artistic, photographic, audiovisual works, and software. In addition to acting as a conduit for sellers and buyers of intellectual property NewIdeaTrade.com supports a professional directory and resource center for its members.
"There is a great amount of unused or underutilized human ingenuity," says Dr. Ahmed. "We link the creativity of inventors, authors, and artists with entrepreneurs, investors, and marketers who have the financial and human resources to further develop an innovation for market introduction."
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