As Borders Books continues its slow but inevitable exit from the marketplace, company executives have decided to make one last shrewd move and put the group's intellectual property rights up for auction.
Although the bookselling giant was ultimately unable to find a business model capable of keeping its doors open, Borders executives know that they still have a lot to offer those trying to fill their shoes in a dynamic media-selling marketplace. In total, Borders' intellectual property assets were valued at nearly $16 million and the auction attracted a variety of interested bidders, including leading booksellers, publishing companies and internet retail sites.
"We are very pleased with the successful auction," said Borders Group CEO Holly Etlin. "The participants clearly recognized the significant strategic value in the Borders name and other assets linked to the Borders customer base."
With the rise of mobile devices and emergence of innovative content delivery platforms, consumer demand is strong and opportunities abound for savvy media-sellers. But as the segment becomes more competitive, shoring up IP portfolios may be especially important for protecting one's standing in the marketplace.
According to the Guardian, Google may soon take a significant hit from a costly misstep into alleged copyright infringement territory. In its ongoing efforts to assemble a digital book archive, it may have stepped on the toes of thousands of publishers and writers now poised to sue for distribution rights to content they believe is rightly their own.