Micro Transaction Engine
Introduction
Knowledge is power, the adage from Francis Bacon, the British philosopher of 16th-17th century, is more self-evident than ever before in its meaning in global information and commercial society of today. The Hong Kong Intellectual Property Exchange (HKIPX) offers you Midas touch to convert your "knowledge" into personal wealth. Inventions, literary and artistic works, trademarks and brands, collectively known as the wisdom of mankind, are indeed a huge "gold mine". Unfortunately, its value has been historically ignored or undervalued.
HKIPX has made ready a marketplace for IP holders to access capital markets through its experts with decades of experience in the industries of intellectual property, finance and capital markets. To do this, HKIPX is offering three major trading engines with different functionality to buyers and sellers of intellectual properties: 1) Intellectual Property Flea Market, 2) Financing Platform for Intellectual Property Project and 3) SIPP trading Engine. On the following section highlights SIPP Trading Engine:
Intellectual Property Concept
Besides the traditional contents of patents & technology, trademarks and brands, copyrights and cultural assets, intellectual property goes well beyond to include much more in the intangible assets. Intellectual property covered in this section will focus the following concepts:
Patents and technologies: inventions, utility models, industrial designs, technical secrets and know-how, business models and industrial resources, etc.
Copyrights and cultural assets: acrobatics, architectural design, art works, computer software, dance, drama & opera, folk literature, literary works, movies & TV programs, music, oral literature, photography, technical drawing, theater and opera, written works.
Trademarks and brands: 3D trademarks, alphabetic mark, color composite marks, graphic trademark, numeric mark, word mark and other composite marks.
Introduction of Micro Transaction Engine
The IP Micro Transaction Engine changes the inefficient traditional method of technology transfer through mechanism of market competition in an open and fair environment, market-oriented pricing mechanism by streamlining the IP transaction process. The engine has four trading formats (buy now, auction, brokered deals, and licensing) for items worth HK$1,000 up to HK$5,000,000. Sellers will list information of intellectual property rights at HKIPX website. HKIPX will release the listing after auditing. Buyers and sellers will then be able to review the listing at the IP Micro Transaction Engine. Buyers and sellers can choose one of the four trading formats (buy now, auction, brokered deals, and licensing) to complete the transaction based on the seller's prior choice. Platform oversees the fairness, legality of the transactions and safety of funds.
The Micro Transaction Engine is suitable for intellectual property which has not yet been commercialized (eg: Approved patent technology, trademark branding and copyright created, etc.) or intellectual property which will be generated (Content under application or in concept stage).
Introduction to Transaction Method
1. Single Price
After the seller has chosen single price as transaction method, and set his desired price, anyone willing to accept the price can purchase the product or interest immediately. Under the supervision of the platform, buyer transfers the full amount payment into the corresponding platform regulatory account; the platform notifies the seller payment has been received and urges the seller for the relevant transfer procedures. After the transfer procedures completed, the buyer notifies platform about the completion and satisfaction of the transfer procedures, and notifies the platform to release payment to the seller; which brings the end of the transaction. If the buyer is not satisfied about the transfer procedure, he can request a refund; the platform determines the liability of breaching party in 7 working days. If the seller defaults, the platform will fully refund to the buyer account in 14 working days. If the buyer defaults, and the seller insists on completion of the transaction, the platform will transfer the payment after deducting related fees to the seller account.
Trading Rule
Seller submits project information and applies for project certification through the platform, the platform performs offline project certification, and contacts the seller and signs cooperation agreement , the project is officially published on the platform, buyer and seller sign transaction agreement to complete the transaction through the platform at the selling time or within 7 working days after sale.
Trading project publishing procedure (seller)
First, log in Hong Kong Intellectual Property Exchange;
Second, enter “Intellectual Property Flea Market” to enter intellectual property trading module;
Third, click "Publish Project" to enter publishing page;
Fourth, fill in basic information (select single price in transaction method form), project description, project owner information;
Fifth, click "Submit" to complete the project submission.
Here, you basically have completed the project submission; where there is one stop more to publish the project. In order to maintain the quality of projects published on the platform, your project needs to be certified before trading on the platform, and you can enter Member Center "My publish" module to submit project certification information;
Sixth, after project certification, the project is published and ready for trading.
Transaction process (buyer)
First, log in Hong Kong Intellectual Property Exchange;
Second, enter “Intellectual Property Flea Market” to access trading project list;
Third, select your favorite items to trade;
Fourth, select the purchase amount and complete the payment;
Fifth, after the online purchase is completed, we will contact you at the end of selling time or after the sale, after signing the agreement offline, transaction is completed.
Platform Charges
After each transaction, platform charges 10% of the transaction amount as transaction fee from the seller.%手續費。
Trading and Clearing Currency
Hong Kong Dollar
2. Auction
After the seller has chosen auction as transaction method, and set the minimum auction price ($1000), within a fixed period (one week, one month or longer), the highest bidder wins the project or interest.
Trading Rule
Seller submits project information and applies for project certification through the platform, the platform performs offline project certification, and contacts the seller and signs cooperation agreement , the project is officially published on the platform, buyer and seller sign transaction agreement to complete the transaction through the platform after 7 seven working days of the close of auction.
Auction project publishing procedure (seller)
First, log in Hong Kong Intellectual Property Exchange;
Second, enter “Intellectual Property Flea Market” to enter intellectual property trading module;
Third, click "Publish Project" to enter publishing page;
Fourth, fill in basic information (select auction in transaction method form), project description, project owner information;
Fifth, click "Submit" to complete the project submission.
Here, you basically have completed the project submission; where there is one stop more to publish the project. In order to maintain the quality of projects published on the platform, your project needs to be certified before trading on the platform, and you can enter Member Center "My publish" module to submit project certification information;
Sixth, after project certification, the project is published and ready for trading.
Auction process (buyer)
Effective members of platform can participate in the auction of the project, project auction uses the highest bidder within the effective period wins the project method, operational auction procedures are as follows:
First, log in Hong Kong Intellectual Property Exchange;
Second, enter “Intellectual Property Flea Market” to access trading project list;
Third, select auction projects to bid; (please understand Hong Kong Intellectual Property trading rules and some certification report before offering bid)
Fourth, offering bid, offers the highest bid before the auction closing time. (The platform will freeze the corresponding amount in investment treasure at each bid, please fund in before offering bid)
Fifth, for those not the highest bidder, the corresponding amount will be released in investment treasure. For the highest bidder, after the transaction is completed, platform deducts related fees, and contacts you to sign the agreement offline to complete transaction.
Platform Charges
After each transaction, platform charges 10% of the transaction amount as transaction fee from the seller.%手續費。
Trading and Clearing Currency
Hong Kong Dollar
3. Bargaining
Bargaining is suitable when seller is not clear about the transaction amount or transaction method, seller can provide information about project cooperation on the platform, if buyer is interested, he can apply and allow platform to intervene in order to facilitate the transaction. Seller will negotiate the intellectual property content, transaction amount and conditions etc. with interested parties, and then make a transaction decision. Platform will help buyers and sellers to negotiate in order to complete the transaction. Platform acts as an intermediary to match seller and buyer to complete the transaction.
Trading Rule
Seller submits project information and applies for project certification through the platform; the platform performs offline project certification, and contacts the seller and signs cooperation agreement. The project is officially published on the platform in bargaining method, for any assistance request from seller during the sale; platform will get in touch with buyer within 2 working days, and help to deal with the seller, in order to facilitate the transaction.
Bargaining project publishing procedure (seller)
First, log in Hong Kong Intellectual Property Exchange;
Second, enter “Intellectual Property Flea Market” to enter intellectual property trading module;
Third, click "Publish Project" to enter publishing page;
Fourth, fill in basic information (select bargaining in transaction method form), project description, project owner information;
Fifth, click "Submit" to complete the project submission.
Here, you basically have completed the project submission; where there is one stop more to publish the project. In order to maintain the quality of projects published on the platform, your project needs to be certified before trading on the platform, and you can enter Member Center "My publish" module to submit project certification information;
Sixth, after project certification, the project is published and ready for trading.
Auction process (buyer)
First, log in Hong Kong Intellectual Property Exchange;
Second, enter “Intellectual Property Flea Market” to access trading project list;
Third, select desired projects to apply assistance, and submit assistance request;
Fourth, platform receives your assistance request, and contacts you within 2 working days;
Fifth, platform facilitates the seller and you to complete transaction agreement, and contacts you to sign the agreement offline to complete transaction.
Platform Charges
After each transaction, platform charges 20% of the transaction amount as transaction fee from the seller.%手續費。
Trading and Clearing Currency
Hong Kong Dollar
4. Licensing
For seller who is not willing to give up the ownership of intellectual property (i.e. licensor), you can choose licensing method. Licensor can set his own fee schedule according to geographic region, industry, number of use, time period etc.. Anyone who is willing to accept the conditions from the licensor, he can pay the related fee and get the right to use the intellectual property. Buyer (i.e. Licensee), under the supervision of the platform, transfers the corresponding full amount payment into the platform regulatory account, platform notifies the seller payment has been received and urges the seller for the relevant licensing procedures. After the licensing procedures completed, the seller notifies platform, and platform confirms with the buyer about the completion and satisfaction of the licensing procedure. Platform will transfer the payment after deducting related fees to the seller account, which brings the end of the licensing.
Trading Rule
Seller submits project information and applies for project certification through the platform; the platform performs offline project certification, and contacts the seller and signs cooperation agreement. The project is officially published on the platform in licensing method, during the publishing period, multiple buyers can simultaneously apply for licensing.
Licensing project publishing procedure (seller)
First, log in Hong Kong Intellectual Property Exchange;
Second, enter “Intellectual Property Flea Market” to enter intellectual property trading module;
Third, click "Publish Project" to enter publishing page;
Fourth, fill in basic information (select licensing in transaction method form), project description, project owner information;
Fifth, click "Submit" to complete the project submission.
Here, you basically have completed the project submission; where there is one stop more to publish the project. In order to maintain the quality of projects published on the platform, your project needs to be certified before trading on the platform, and you can enter Member Center "My publish" module to submit project certification information;
Sixth, after project certification, the project is published and ready for trading.
Licensing process (buyer)
First, log in Hong Kong Intellectual Property Exchange;
Second, enter “Intellectual Property Flea Market” to access trading project list;
Third, select desired licensing projects, and submit applying request;
Fourth, platform automatically handles the application after receiving your applying request;
Fifth, after signing the online licensing agreement, the corresponding amount will be transferred into platform designated account, and transaction is completed.
Platform Charges
After each transaction, platform charges 20% of the transaction amount as transaction fee from the seller.
Trading and Clearing Currency
Hong Kong Dollar
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