In a world of patent thickets, royalty stacking, and colossal infringement wars, there is a keen interest on the part of patent holders and potential licensees to find ways to make patent licensing more efficient, transparent, and certain. Intellectual Property Exchange International, Inc. (IPXI) created a business model that sought to address that need with a patent licensing exchange, which was designed to create a marketplace for rights in individual and packaged patent licenses.

In an effort to avoid antitrust issues, IPXI sought guidance from the Department of Justice (DOJ). The resulting business review letter,1 issued on March 26, 2013, did not give IPXI the blessing it sought, but it does provide the latest guidance regarding the DOJ’s view on several key issues faced by those involved in joint licensing and patent pooling. In particular, the IPXI business review letter gives guidance regarding...