Emerging IP management strategy - Poland Oct 2014
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2014 STEM Educator Academy
Emerging Landscape for Intellectual Property
Dipanjan (DJ) Nag, Ph.D., MBA, CLP, RTTPPresident and CEO, IP Shakti, LLCAdjunct Faculty, Rutgers UniversityVisiting Professor, Shizuoka University
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BACKGROUND
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BACKGROUND
35 Startups and >300 licenses
ClearView DiagnosticsInnovating For Life
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INTELLECTUAL PROPERTY: YOUR PRIME ASSET
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Components of S&P 500 Market Value
Data: Ned Davis Research, Inc.http://www.youtube.com/watch?v=3Uzmg2bEgv8&feature=player_embedded
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Components of S&P 500 Market Value
Components of S&P 500® Market Capitalization
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005
S&
P 5
00 M
arket
Cap
($
'000
s)
Market Premium
Intangible Book Value
Tangible Book Value
Data: Ned Davis Research, Inc.
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Greed and fear drives any market
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IP MARKETS
Emerging Trends
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Ten things that changed the world of IP*• Sale of Nortel’s portfolio for >$4.5 B
a. Sale of Kodak’s portfolio b. Facebook acquisition of AOL patents/ Google buying Motorola
Mobility
*In the last 30 years
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Intellectual Ventures created – own >70,000 US patents
Ten things that changed the world of IP*
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• IBM makes > $1 Billion from licensing intellectual property
• Technicolor > 650 Million
Ten things that changed the world of IP*
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• P&G gets rid of the NIH (not invented here) syndrome a. Rise of Open Innovationb. Pharma has >80% of drugs from Universities
Ten things that changed the world of IP*
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• The signing of Bayh-Dole act in 1980a. Success of technology transfer
Ten things that changed the world of IP*
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Technology Commercialization in Numbers*
15
Research Funding
(~$693B)
~293,000 Invention
Disclosures
~152,000 Patent
Applications
~61,200 Patents Awarded
67,102 activelicense & options,7,781 start-ups
* Source AUTM Licensing Survey 1991-2011
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Outsourcing of legal services – LPO, KPO, BPO
Ten things that changed the world of IP*
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Ten things that changed the world of IP*
Rise of the Patent Trolls……
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Ten things that changed the world of IP*The rise of global market players BRIC and others…..
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• The America Invents Act – IPR, CBM and other changes
Ten things that changed the world of IP*
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Ten things that changed the world of IP*• Apple v. Samsung and many other epic battles
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INTRODUCTION
• Increased number of players in the IP market place.
• Non-performing entities making news.
• Telecommunications and pharmaceutical patent wars.
• Transactions in patents have increased by many folds and through a varied genre of players.
• Economic significance highlights the mired dynamics.
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This is not a Strategy!
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Patent-lawsuit firm sues window makers
A New York firm claims that 10 companies are infringing on its patents for window-frame construction.“We are looking for amicable cases, not just lawsuits,” said Robert Berman, president and CEO of CopyTele Inc., the Melville, N.Y., parent company of the firm launching the lawsuits. Berman said in a telephone interview that subsidiary J-Channel Industries Corp. also will pursue royalties from window companies not named in the lawsuits.Ten companies face civil suits in U.S. District Court in Knoxville, Tenn., after J-Channel filed its complaint and suits Aug. 7.J-Channel was created as a subsidiary of CopyTele to pursue alleged window-frame patent infringement, Berman said. Copy¬- Tele’s primary business is “monetization and assertion of patents.”
Patent lawsuit comes home!
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LAW OF “UNINTENDED CONSEQUENCES”
THE America Invents Act (AIA) Patent Reform Legislation
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Do you know the changes?
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New Rules to Invalidate PatentsInter Partes Review
Covered Business Method Patents
Crowd comes to patents
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Rise of the “Reverse Trolls”
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THE EVER CHANGING IP MARKET
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IP development
IP sellers
IP facilitators
IP development & licensing companies
IP Markets Value ChainIP Markets Value Chain
IP aggregators
Defensive IP pools
IP buyers
Patent Licensing & Enforcement Companies
Single asserters Licensing agents Brokers Auctioneers Exchanges M&A advisory firms
CLASSIFICATION OF IP MARKETS VALUE CHAIN
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VALUE CHAIN MAPPED TO QUADRANTSVALUE CHAIN MAPPED TO QUADRANTS
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IP MANAGEMENT TRENDS
Corporate Strategy
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IP Management for Companies
• Reduce competition
• Patent Trolling
• IBM Model• Pure
licensing• NPEs vs.
PAE
• Protect Product
• Protect Margin
• Increased valuation
• Growth• M & A
Strategic Defensive
OffensiveRevenue
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IP MANAGEMENT TRENDS
University Technology Transfer Strategy
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Know your
BATNA
Best Alternative to Negotiated Agreement
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IP negotiation – In a University Setting
Assignment
Exclusive royalty free
Exclusive license
NERF
Non-exclusive license
Exclusive Option
First right of refusal
First right to negotiate
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IP Monetization Strategies
Licensing Selling
Litigation Auditing
OTC
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Key Take Aways For UniversitiesIP Matters
Not all IP is created equally!
Focus on your claims, that is what makes it valuable
University claw back into IP
If the startup fails who gets the IP?
Improvements and fields of use
IP as a collateral
Can you loan money on the IP?
Revenue strategy for an early stage startup
Can you license the IP as a source of revenue?
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BEG, BORROW AND BUILD: THE LEANER STARTUP
Adapting to the new model
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It is all about risk mitigation
F&F • $25K-$100K
Angel • $50K-$250K
Series A
• $500K-$2MM
Series B
• $2MM-$25MM
IPO
Ris
k
Time
Key Risks are:- Management risk- Intellectual property risk
- Technology risk
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Eval
uatio
nD
ue
Dili
genc e
Term
Sh
eet
Lice
nse
Bus
ines
s Pl
anLa
unch
Fund
Rai
se
Bui
ld
and
deve
lop
Exit
Life Cycle of a Startup
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Conclusions
- Intellectual property fuels the knowledge economy
- Startups are the projectiles for “disruptive innovation”
- Intellectual property as an asset class is here to stay