Xybernaut to auction advertising patents

Bankrupt Xybernaut said it will auction patents that pertain to wireless transmit advertising, direct mail and information to targeted mobile phones based on location. Xybernaut wants to use the money to get out of Chapter 11. The patents go up for auction May 17 in Washington, D.C., with a minimum bid of $3.9 million for three patents and one pending known as "WayPoint." Interestingly enough, the timing is right for an auction like this as the idea of advertising heats up and carriers are rolling out location-based services.

For more about Xybernaut's auction plans:
- read this article from TechWeb News