Deutsche Telekom (DT) is selling a comprehensive portfolio of patents relating to smart vehicle navigation systems.
The DT Navigation Portfolio will be offered exclusively through a trusted intermediary, Innovative Auctions, in an online auction process carefully designed to preserve bidder anonymity. The auction is targeted to take place in early December 2020.
The DT Navigation Portfolio comprises 21 patent families with a total of 168 patents covering smart traffic and real-time navigation technology. This includes, for example, applications that immediately take into account current traffic jams.
This makes the patents particularly interesting for car manufacturers and suppliers, including producers of navigation systems and related software.
DT considers the bundle of patents as very valuable. Tim Oelmann, responsible for Business IPR Management: “We appreciate the upcoming online auction as a transparent and innovative platform for conducting this transaction. We want to address as many international companies as possible and are looking forward to an interesting, lively auction.”
Background: DT currently holds over 8,600 individual patents, which makes DT one of the European leaders in the telecommunication sector.
With the online auction in early December, DT pursues its new patent strategy to more actively exploit intellectual property that does not match its core business, for example through licensing and spin-offs, or simply through sales. Tim Oelmann: “Auction sales like this help us sharpen our patent portfolio. Furthermore, they offer the opportunity to focus on the protection and defense of our strategically important patents and technologies.”
DT commissioned “Innovative Auctions” (IA) to conduct the auction. The company is specialized in conducting high-stakes online auctions. Thus, buyers will be able to submit their bids for ownership of the portfolio securely and confidentially directly into the online auction system. Being a neutral third party, IA guarantees that the identity of bidders and any bids made will not be disclosed to DT or to any other parties.