Except they’re the only buyers. At this point, Uber is so loaded, they’re literally asking people to sell them stuff.
The company’s hosting a 1-month patent buy-a-thon, called UP3, where inventors are encouraged to submit any patent they think Uber might be interested in.
Looks like that waffle iron alarm clock might finally pay off
And you could have that brunch money in-hand way faster than in a traditional patent deal.
Uber’s goal is to streamline the IP (intellectual property) buying process down to about 4 months instead of years by prompting inventors to submit a “final sale” price for their patent along with their proposal, which, if accepted, is binding.
But get-rich-quicksters beware… Cutting out the back-and-forth on pricing may be faster, but you’re left with almost no negotiation power to shop around and create bidding wars to drive up the value of the IP.
Noted. So how much can I expect for my “million dollar” idea?
‘Bout $100k — that’s the average price of sale of the 107 proposals received in a similar patent-palooza last year, called IP3 (A+ for brand differentiation, Uber).
So, not enough to retire in Hawaii, but definitely not chump change, either.
Interested? Strike while the waffle iron alarm clock’s hot. The pitching window starts April 24th. Now get crackin’.