A one-way ticket to (patent) success
IP plays a very important role at FlipTix, an early stage startup ticketing marketplace, says CEO Jaime Siegel, who is also global licensing director of the Open Invention Network (OIN).
“As well as being CEO of FlipTix, as an IP attorney with over 25 years of experience, I am responsible for managing our IP strategy,” Siegel explains.
“FlipTix is opening an entirely new market—a tertiary ticketing market for the tickets of fans who leave events early,” he says. “We need to mark off our territory and make clear that we have protected this new market.”
For people leaving events early, FlipTix, which was founded in 2016, has created a marketplace where they can ‘flip’ their vacated seats or space to fans not currently in the venue, whether it be a festival, sports match, or cultural/arts event.
Currently, FlipTix has 14 patent applications around the world on file.
“The applications are directed to the operation of the tertiary market that we created, by protecting the idea of knowing when someone leaves a venue and then posting the vacated space for sale,” Siegel says.
“Our patent portfolio has created tremendous value for our investors, and the IP will continue to gain value.”
He adds: “We have Patent Cooperation Treaty patent applications that will ultimately result in patents in key jurisdictions around the world. A global IP strategy is key for a global business.”
