This is a panel that should be very relevant to all entrepreneurs who have an interest in getting and monetizing patents, as well as those who work with them. "A New Age in Patent Liquidity: New Opportunities for Entrepreneurs," is presented by MIT Enterprise Forum of NYC.
I will be on the panel to present the perspective of an entrepreneur/inventor who has successfully navigated the Kafkaesque world of patents, which can be rewarding, but also hugely frustrating, costly, and risky. I described some of the twists and turns of my adventures in a 2008 blog post "'The Six Phases of a Technology Flop' ...Patents, and Plan B." The theme was how I started seeking to build a software/services business, but also sought patents as a hedge to protect my investment -- a "Plan B." When the business failed to keep up with better-connected competitors with deeper pockets, I turned to the patents to try to capture value for my innovations. Working with partners who brought the expertise and funding needed to do that, and eventually to undertake a patent suit, I went part way through infringement cases against Microsoft and Apple. Some additional background on that is in last year's post that tells how Intellectual Ventures changed the game with a very creative, win-win deal.
I also expect to touch on my 2008 sale of another portfolio of patents to another very innovative company, RPX, as well as my ongoing work developing other patents. I am pleased that Kevin Barhydt, VP, Head of Acquisitions for RPX (and formerly at IV) will also be on the panel.
From my perspective, IV, RPX, and others are making a real difference is offering inventors and other patent owners a way to monetize their IP for reasonable compensation -- in a market that is rational, and has a middle ground between "take a hike" and the nuclear option of litigation, with its huge costs in money, time, and disruption.
It is a pleasure to be a panelist and organizer for this event, especially given that I was the moderator and an organizer of MITEF's well-received 2000 panel session "Patents for Dot-coms," which had an equally distinguished panel.
Showing posts with label Intellectual Ventures. Show all posts
Showing posts with label Intellectual Ventures. Show all posts
Monday, January 23, 2012
Wednesday, April 27, 2011
My Intellectual Ventures Inventor Profile
Recently I had the pleasure of being interviewed by Intellectual Ventures for a story about my work as an inventor. I have been looking forward to seeing it posted in their new Inventor Spotlight area. Unfortunately, I still have to wait a bit. My story was one of the first to be written, but my deal was fairly complex, and they want to work up to that. So, while I wait for them to present the story, here is a teaser.
For those of you who have not been paying attention, Intellectual Ventures is remaking the patent business. They have gradually become less secretive -- having raised $5 billion to acquire over 30,000 patents since 2000, they are having a huge effect, much of it yet to be seen, and are still viewed with awe by some, and fear by others. Their story has been covered extensively in the press.
As an inventor, and a believer in what technology can enable, I think they are changing things very much for the better.
Some of my history as an inventor -- my twelve year struggle from conception to monetization of my first patented invention -- was outlined in a 2008 blog post. That did not get into how I partnered with others to develop my patents, leading to a sale for $35 million. I faced most of the challenges of the lone inventor, unable to get large companies to a reasonable deal without litigation, even with professional partners to lead and fund the effort. I always viewed litigation as a very unpleasant and wasteful prospect, and two years into a hugely expensive and draining case (even with other people's money), I was eager to end it as soon as possible.
That is where the market came to the rescue. The IV case study will give more details, but, in brief, I saw them change the game from a brutal, zero-sum battle (attractive only to lawyers) to a win-win business proposition that was beneficial to all. They brought unique insight into the market forces, great cleverness in structuring deals that I understand to have been first of their kind, and mastery in moving the warring sides to a deal quickly, overcoming many stumbling blocks.
The deal provided my company, Teleshuttle, with the resources to let me focus on my work as an inventor, which is the work I love and do best.*
I look forward to seeing the story of this landmark deal on IV's Web site, and to IV's contribution to developing the market becoming more widely known and understood. IV deserves credit for leading the way toward a world in which invention is more sensibly valued, rewarded, and stimulated -- to make life better for all of us.
________
*For example, there is my current work on the FairPay pricing process, described extensively on [the FairPayZone**] blog: I have patent filings related to this, but they may or may not ever have any value. Nevertheless, because some of my patents have brought in funds, I can develop FairPay essentially as a pro-bono project, just because I think it is an idea the world will benefit from.
There is a parallel here: Just as IV found a way to arrange a fair value exchange between me as innovator and those who benefit from my ideas, I put forth FairPay as a way to arrange a fair value exchange between those who create content/services and those who benefit from that.
________
Comments: a few comments can be found on the original posting at FairPayZone.com]
For those of you who have not been paying attention, Intellectual Ventures is remaking the patent business. They have gradually become less secretive -- having raised $5 billion to acquire over 30,000 patents since 2000, they are having a huge effect, much of it yet to be seen, and are still viewed with awe by some, and fear by others. Their story has been covered extensively in the press.
As an inventor, and a believer in what technology can enable, I think they are changing things very much for the better.
Some of my history as an inventor -- my twelve year struggle from conception to monetization of my first patented invention -- was outlined in a 2008 blog post. That did not get into how I partnered with others to develop my patents, leading to a sale for $35 million. I faced most of the challenges of the lone inventor, unable to get large companies to a reasonable deal without litigation, even with professional partners to lead and fund the effort. I always viewed litigation as a very unpleasant and wasteful prospect, and two years into a hugely expensive and draining case (even with other people's money), I was eager to end it as soon as possible.
That is where the market came to the rescue. The IV case study will give more details, but, in brief, I saw them change the game from a brutal, zero-sum battle (attractive only to lawyers) to a win-win business proposition that was beneficial to all. They brought unique insight into the market forces, great cleverness in structuring deals that I understand to have been first of their kind, and mastery in moving the warring sides to a deal quickly, overcoming many stumbling blocks.
The deal provided my company, Teleshuttle, with the resources to let me focus on my work as an inventor, which is the work I love and do best.*
I look forward to seeing the story of this landmark deal on IV's Web site, and to IV's contribution to developing the market becoming more widely known and understood. IV deserves credit for leading the way toward a world in which invention is more sensibly valued, rewarded, and stimulated -- to make life better for all of us.
________
*For example, there is my current work on the FairPay pricing process, described extensively on [the FairPayZone**] blog: I have patent filings related to this, but they may or may not ever have any value. Nevertheless, because some of my patents have brought in funds, I can develop FairPay essentially as a pro-bono project, just because I think it is an idea the world will benefit from.
There is a parallel here: Just as IV found a way to arrange a fair value exchange between me as innovator and those who benefit from my ideas, I put forth FairPay as a way to arrange a fair value exchange between those who create content/services and those who benefit from that.
________
[**This post was originally posted on the FairPayZone blog on 4/27/11, but has been moved here as more fitting.
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