Law360, New York ( September 24, 2014, 9:39 AM EDT) -- Patents are property rights, just like homes, cars and real estate. But, compared to markets for those properties, the market for patents is narrow and inefficient. Tens of thousands of in-force patents exist, but there is limited information on their value. License agreements are typically confidential and patent owners and potential licensees often have few comparable value points to guide their negotiations. Litigation is thus often needed to value patents, although alternative ways to value and market patent rights have emerged, including Ocean Tomo LLC's public auctions and RPX Corp.'s efforts to purchase patent portfolios and provide a licensing subscription service to potential users of those rights (or, at least, targets of possible litigation)....