Abstract: A method for transacting intellectual property includes the steps of receiving an executed document transferring an intellectual property right to an undefined party; receiving one or more offers for the intellectual property right; determining a winning party based on the one or more received offers; and releasing the executed document to the winning party. The method may further include placing the executed document in a data room for review by a potential acquirer prior to receiving one or more offers for the intellectual property night. The data room may be an on-line data room and include information for the potential acquirer to conduct due diligence of the intellectual property right. The intellectual property transaction may be conducted in a live or electronic auction. The intellectual property right may be submitted through an online submission form and an automated qualification system may classify the intellectual property right.