IP Webinar highlights: Transforming Intangible Assets into Tangible Profits

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Transforming Intangible Assets into Tangible Profits

Highlights from the webinar on August 12, 2015

Read the TranscriptWatch the Webinar

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Host and Participants

• PresidentatIPWatchdog

Gene Quinn

• ManagingDirector,InflexionPointStrategy,LLC.

Ron Laurie

• Chairman&ChiefExecutiveOfficer,DominionHarborGroup

David Pridham

• Director,InnovationBusinessDevelopment,UnitedTechnologies

Jin Kim

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Gene Quinn: “Gonearethedays,aseverybodyknows,thatyoucanjustsimplyacquireapatentandrichesaregoingtoshowupatyourdoorstep,eitherthroughalicensingregimeorthoughsomekindofenforcementregime.Sothiswholeprocessofgoingfromtheintangibleassets,whetheritissomethingthatispatented,whetherit’satradesecret,orwhetherit’sanearlystageinnovationtogettingtoprofitsismuchhardertodothanitoncewasandit’seasytosaywewanttomakemoneybuttherearealotofdecisionsthatgointothis.”

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Gene Quinn, continued:“WhatI’dliketodotostarttheconversationistogetyourpreliminarythoughtsonthetopicoftransformingtheassets—intangibleassetswhateverthatmaymeantoyou,intoprofits.Whatarethekeythingsthatyouthinkpeopleneedtokeepinmindwhiletheyapproachthistypeofadecisionmakingprocess?Ron,let’sturntoyoufirst.”

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Ron Laurie: “MyapproachisreallywhatIcalla‘topdownsystemsengineering’approachwhichistolookatthequestionofintangibleassetmonetizationasasystemsengineeringproblem—lookatallthemechanismsthatareavailableandlookatyourobjectives,lookatyourassetsandthendecidewhatthebestvalue—Idon’tliketheword‘monetization,’sowhatthebestvalueextractionmechanismis…andthepremisethatIoperateunderis;lookatallthepotentialoptionsforvalueextraction,don’tfocusononeofthemtotheexclusionoftheothersbecauseyoumaybegoingdownthewrongtrack.Sothat’smy‘topdown’approach.”

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Gene Quinn: “David,whenyou’retalkingaboutthisareainworkingwithboththelargecompaniesandthesmallercompaniesthataretryingtomoveforwardwiththeirinnovationwhatisitthatyouthinktheyreallyneedtobethinkingaboutintermsoftheissues?”

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David Pridham: “Ithinktheimportantthingistotakealookatthisfromtheperspectiveofwhoyou’readvising,soourclientsrange—andagainwehavetheIPBank,whichI’lltalkaboutinmoredepthinafewminutes—thatanimportantpartofourbusinessbutwealsohaveourcorepatentlicensingbusinessanddefensebusinessaswell.So,firstunderstandingtheperspectiveofyourclient—whataretheirbusinessobjectives?”

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David Pridham, continued: “…everythingfromasmallstartupcompanythatislookingtogainfootholdinaparticularmarketthathasastruggleinfrontofitintermsofgettingitsownorganicIPtomature,gettingpatentstoissuearounditscurrentproductofferingsthatneedssomethingtobuttresstheirmarketshareandtheirbusinesswhiletheygrowandtoallowthemtogetastrategicexitoranIPO...”

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David Pridham, continued: “…andthenyougotomid-sizeentitiesorentitiesthatarelittlematurethataremaybewellpositionedintheircurrentmarketbutwanttoenteranewmarket,thosecompaniesobviouslyhaveotherneeds...”

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David Pridham, continued: “…andthenyousortofsegueintolargercompaniesthathavesignificantportfoliosthatareunderutilizedthatincludemanyassetsthataresittingonashelfthatarejustcallcentersthataretryingtofigureoutstrategicwaystodeploythoseassetswithoutengaginginafullprivate[curing]campaign,withoutsortofgettinglabeledanNPEorevenworseapatenttrollandtryingtomonetizethroughstrictenforcement…”

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David Pridham, continued: “…soIthinkitsimportanttounderstandtheperspectiveandthemindsetofyourclientandtobeabletoevaluatethoseneedsandbalancethemwiththeIPyoueitherhavedevolvedwiththatclientorthatyouhaveinsomevehicleliketheIPBankthatyoucanusetosortofsupplementthatclient’sbusiness.”

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Gene Quinn: “Weweretalkingaboutwhetherornotwewantedtoapproachthisquestionfromthelensoftalkingaboutpatentsorwhetherweweregoingtotalkaboutinnovationandmaybewecanstartthereandgetyourthoughtsonthatveryfundamentalquestion.Arewetalkingabouttryingtotransformpatentsintoprofitsorarewetalkingabouttryingtotransformsomeinnovationintoprofits,andIguessitreallydependsonwhomyou’reworkingwithright?”

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Jin Kim: “Yeah,that’sabsolutelyright.IthinkthegeneralthemeofwhatIwanttotalkaboutisthatweactuallyuseIPinordertofosterinnovationthatleadstonewbusinesses…UnitedTechnologies…isaverylargecompanyandwestrugglewiththisissueofinnovationandIPeverydayandmaybemoresothaneverbeforebecauselikemanyfortune50companiesthecompaniesgrowveryfastuntiltheybecomeafortune50company.”

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Jin Kim, continued: “Theygrowatapaceof5,10,20percentayearandoncetheybecomeafortune50companytheyactuallygrowbarelywithGDPandthefewcompaniesthatmanagetoescapethatpatternhaveactuallybeencompaniesthathavegonebacktothetreasuretroveoftechnologies,IP,andknow-howanddevelopednewtechnologyplatformsandthat’swhatwearedoinghere.”

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Jin Kim, continued: “IstartedoutasamemberofateamthatwasmandatedtomonetizeintellectualpropertybutmuchofwhatIdotodayhastodowithhowdoweleverageourIPinorder,notjusttomakemoneywiththeIPbuthowtodevelopnewtechnologies,newproducts,newbusinessmodels,andthereforenewtechnologyplatformsinordertoreallygetoutofthispatternofmakingincrementalinnovationandthenmakingincrementalrevenue,orachievingincrementalrevenuegrowth,butreallytryingtogrowsignificantlyandorganicallynotjustbybuyinganother8milliondollarcompanywhichweareverywellknownfor.”

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Gene Quinn: “…innovationrequiresaconfluenceofimagination,vision,andanunderstandingofthetechnicalrealitiesandthefeasibilityofwhatyou’retryingtodoanditseemslikeyouhavetohavethoseintherightproportion.Dreamingisgreatbutifyoucan’tbringitoutintobeingthenyou’rejustpursuingaunicornIsuppose.So,howdoyou,whenyou’redealingwiththatquestionastowhattopursueandtohowaggressivelytopursueit,areyoulookingat—what’syourdecisionmakingmatrixlooklike,what’stheadvicethatyougive?”

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Ron Laurie: “Allright,unlessyou’reafreshstartup,thefirstquestioniswhat’syou’rebusiness?Asyoupointout,Gene,thereareveryfewsituationswhereyoucanmakemoremoneydealingwithpatentspersethanyoucansellingproductsespeciallyinlargecompanies.Nomatterhowgoodtheirmonetization—patentmonetizationprogramisitpalesincomparisontoproductsalesorR&D,soyou’vegottoknowwhatyourcorebusinessisandyou’vegottoknowwhereitsgoingbecauseyouhavetobuildforthefutureobviously.”

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Ron Laurie, continued: “So,oneofthefirstthingsyouneedtodoisdecidewhatiscorebusinessandwhatisn’t,andthenyoulookatyourIPportfolio—sorry,oneofthedisciplinesI’vetriedtoimposeonmyselfwhichisveryhardistosayIPwhenImeanIPandpatentswhenImeanpatents.WhenIsayIPImeanpatentsplustechnologyknow-how,prototypes,allofthatstuff.Soyoulookatyourpatentsportfolioandfigureoutwhat’scoretothebusinessthenyoucanstartmakingdecisionsaboutwhattodowithitintermsofcommercializationvs.monetizationthatmakessensefromabusinessstandpoint.”

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Ron Laurie, continued: “IguessthemostimportantthingI’velearnedisthatwhenyou’retalkingtotheCEOofamajorcompany,youhavetotalkintermsthatarerelevanttothemandthetermsthatarerelevanttotheCEOareP&Lorincomestatement,balancesheet,marketshare,andenterprisevalue.You’vegottotranslatepatentsintooneormoreofthosecategoriesandifyoudon’t,you’renotgoingtogetlistenedto.”

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Ron Laurie, continued: “Soyoustartwithwhatthecorebusinessisandthenyoufigureout—thenyoustartdividinguptheportfoliointosegments,thisiswheretoolslikeInnographycomein.Inthecoreareayou’relookingforunderutilizedpatents.Underutilizedmeanstheycoverthecorebusinessbutthey’rebroadenoughtocoverothernon-competitivebusinesses,andthenyoustarttothinkabouthowtomonetizethatpiecethatyou’renotusingandIcangetintothatlater,there’sexclusivefieldofuselicensingandavarietyoftechniquestodothat.”

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Ron Laurie, continued: “Onthenon-coresidethetrickistofigureoutwhathasvaluetosomeoneelseandwhatdoesn’t,that’swhatIcall‘stranded.’Ifitdoesn’tdirectlyimpactyourmarketsbutisvaluableinothermarkets—noncompetitivemarkets—thenyoustartgoingdownadifferenttrackofvalueextractionandmonetization.Sotome,you’vegottodecidewhatbusinessyou’reinandwhereyou’regoing.”

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David Pridham: “WecomeatthisacoupledifferentwaysandagainitdependsonwhichaspectoftheIPBankwe’retalkingabout.Certainlywithrespecttothedepositorsinthebank,wegoin,weminethedepositorportfoliowecallita‘curation’processusingInnographyasoneofthetoolstohelpusdiscernvalueandmoreimportantlywherethatvaluecanbeimplementedattheportfoliocompanylevelontheotherendofthebanktopicktheIPthat’sone,reallynoncoretothedepositorandthentwo,canaddthemosttoourportfoliocompanies.”

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David Pridham, continued: “Forexample,ifacompanycomestousanddescribestheirbusinessinthecontextofatechnologythatwasaroundintheearly2000sandthere’snothingreallynewandnovelthereorinnovativethereweknowthatthisisprobablynotacompanythatwe’regoingtobeabletohelp.”

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Jin Kim: “I’dliketodistinguishbetweentwotypesofinnovation;onethatisincremental,andonethatistransformative.Wedo,likealotofothercompanies,especiallylargefortune50companies,wedoincrementalinnovationextremelywell,whichisimprovinganexistingproductbasedonthebestphysicsandchemicalexpertisethatwehaveandthenmaketheproductbetter.”

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Jin Kim, continued: “WhatweandothersareoftenbadatisactuallygoingbeyondthatandlookingatwhatbroaderplatformswecandevelopnewplatformsmuchlikewhatAppledidgoingfromacomputer,toanIPhonetoanIPadwhichwouldbetransformativeinnovationsandthat’ssomethingwe’rebadatbecauseitrequiresacouplethingsthatourlargecorporationsarenotnecessarilygoodat;oneisrisktaking,theotherispaceversusprocessdriveninnovationwhereyouhavealotof[gate]reviewsandthingslikethatandIthinkeveryonewhoworksforlargecorporationsknowswhatI’mtalkingabout.”

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Jin Kim, continued: “…theotherthingislargecorporationstendtoalmostseparateoutinnovationfromthecostumerrelationshipsotheguysintheresearchlabsare2to3degreesawayfromthecostumerandyouneedtobringsomeofthesethingstogetherandchangesomeofitinordertoreallyachievetransformativeinnovation.”

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Jin Kim, continued: “IttookanexternalviewandreallydiggingthroughalltheIPthatyouhaveandlookingatthemarketpreferablyonwhatthepinpointsare,bringitalltogetherandthendevelopthevisionand—againIdon’tknowwhetherthat’sgoingtoworkoutornot,eitheryou’llseeitinthenewsorinayear’stimeorthiswillallbeforgottenbythen,thenthecallisoverbutIhavetonsofsupportfromseveralexecsthatsupportthestrategyandseethevisionsoIwouldlovetoencourageeverybodytodosomethingsimilarandgobacktothetreasuretrove,IthinkalotofcorporationshavealotmoreIPthantheyknowandknowwhattodowithit.”

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Gene Quinn: “…channelingsomethingthatI’vebeentryingtogetpeopletounderstandforaverylongtimeisthatyouhavetohaveaprocessforunderstandingeverythingyouownsothatwhenyou’relookingatopportunitiesthatareinfrontofyou,youcanreallyunderstandwheretheopportunitiesareintermsofyourtalentorintermsofyourpatentsorotherintellectualpropertyholdings.”

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Gene Quinn, continued: “Howdoyougetcompaniestodothat—number1,andeveniftheywereinclinedtodothatifyouwereadvisingacompanywhatwouldyoubetellingthemtodofromamechanicalperspective?”

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Ron Laurie: “ThereareanumberofstructuralalternativesthatyoutotapintothatunusedportionoftheIP—andagainwe’renotjusttalkingaboutpatents,buttechnology,soanydealyoudoisgoingtoinvolvetechtransferatleastinthisexampleandnotpurepatents.Sosomeoftheoptionsare,youfindamajorplayerintheareathatyou’renotin,soifyou’reinmilitary,youfindsomebodyinthecommercialsectorthathastherightpositioningandyougivethemanexclusivefieldofuselicenseundertherelevantpatentsplustechnologytransfertoenablethemtobuildabusiness—acommercialbusinessaroundthetechnology,whichmightbedronesforexample.”

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Ron Laurie, continued: “Anothervehicleisacorporatespin-outyoucanactuallycreateasubsidiarycompanythatyouhaveapercentageequityownershipinandgivethespin-outexclusivefieldofuselicenseincommercialavionicsordronesandthenyoulookaroundforeitherinvestorsorprivatesectorinvestorsoryoulookforstrategicpartnerswhoareinthecommercialareathatwantanotherequitypieceoftheventurethatwanttocontributemanagementexpertise,domainin-expertise,allmarketchannelexpertise,allofthatstuffandallofasuddenyou’reapartownerofabusinessthatisproducingincomethatwouldn’thavebeentherehadyounotthoughtaboutdoingthisbecausethatunusedportionisjustgoingtowaste.”

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Ron Laurie, continued: “Yougetpeopleinterested—whenIsaypeopleI’mtalkingabouttheC-suite,inparticulartheCEO—yougettheminterestedbyusingthelanguagetheycareabout—usingthelanguagethecapitolmarketscareaboutwhicharethosethingsItalkedaboutbefore;toplinerevenueontheP&L,bottomlineimprovementthroughcostreduction,marketshare,andultimatelyenterprisevalueandstockprice.Onceyoucanexpresswhatyou’retryingtodointhoseterms,youreallygetmindsharefromtheverytopandthat’sessential,soagainitslikelearninganewlanguage—you’vegottospeakthelanguagethattopmanagementunderstandsandcaresabout,ifyoutalktotheminpatentese they’renotgoingtobefullyengaged.”

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Gene Quinn: “Inabigdatauniverseyou’vegottogettotheinformationthatwillletyoubuildyourcaseorfigureoutwhatinnovationstopursueandwhereyouropportunitiesreallylie.”

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David Pridham: “Whenwegointoacompanywelookatwhatyoucallthe‘OrganicIP,’the‘homegrownIP’aswecallitandmapoutthatplanandfigureoutexactlywherewecangettheminthiswhitespaceanalysisintheircurrentmarket,orifthey’retryingtotransitiontoaseparatemarketwherewecangetthemthere.”

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David Pridham, continued: “TheIPwebringinfromthebankafterthatanalysisisdoneisallcomplimentary,soifyouthinkofadiagramwhereyou’reusingacircletoreflectthemarketthataparticularcompanyisinandoneofthegreatthings,justanaside,aboutthecompaniesweworkwithaspartoftheIPBankisthatweworkwithcompaniesinthegreenchemicalspace,themobilee-paymentspace,cloudcomputingIOT,andalsoautomotivetechnologyandthelike,sowe’reworkingwithcompaniesacrossmultiplemarketsthatareincrediblydiverseandthebanksassetsareincrediblydiverseaswellsowhenwegotothecompanyandweareabletofirstworkontheirorganicplanandthentalkaboutwhat’scomplimentarytakingthatbigcircletoreflectthemarketthattheyareinortryingtogetinto,wecantakeclustersofIPfromthebankandwithinthatcirclethatarenotgoingtoowntheentirecircle.”

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David Pridham, continued: “…wegointosomeofourlargedepositors,someofthemarecompaniesthathaveyouknowtensofthousandsofpatentsandwegothroughmassiveportfolios,weuseInnographyandothertoolstodothatbutwe’reabletocuratetheIPthatgoesintothebank1,withaneyeonourexistingportfoliocompanies,2,withaneyeonexistingmarketsthroughsomeofourventurecapitalpartners,butalso3,withaneyeonwherethemarketsareheaded—whatmarketsarebeingdeveloped.”

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Gene Quinn: “…thatdecisiontobuildversusthatdecisiontobuy.Iknowthatcanmeananumberofdifferentthings.Itcanmean,whetheryouaregoingtobeacquiringpatentrightstosupplementwhatyouhaveortogiveyouthefoundationtobuildonbutitcanalsomeanmorethanthatsowhenyouhearsomeonetryingtodecidewhethertobuildversusbuy,whatarethethingsthatyouwanttocounselthemabout?”

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Jin Kim: “…factisthatmostlargecorporationsespeciallyintermsofIPtechnologyandknow-how,theydon’treallyknowwhattheyown,letalonewhattodowithitsoagainIthinktheroleofanIPmanager,orlikewhateveryouwanttocallourselvesisinparttoreallygobackandtoseewhattheintangibleassetsare…”

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Jin Kim, continued: “…andfranklydormantassetsthathaven’tbeendiscoveredandIwanttosay,alotofpeople,andpartofthereasonwe’retalkingaboutthistopicisbecausealotofpeoplesaywellwe’vegonethroughacycleofIPandpatentsaren’tworthanythinganymoreandthingslikethat…butjustliketheinternetdidn’tdieintheyear2000someofthefundamentalswillremainanditsabsolutelyworthforeverycorporateattorneyorIPprofessionaltogobackandreallyseewhatwehavebeforewebuynewtoys.”

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Gene Quinn: “IthinktheideathatpatentsaredeadisoverblownandIthinktheideathatsoftwarepatentsaredeadisoverblowncertainlywe’renotinaverygoodspaceatthemomentbuttothinksoftwareisnotsomethingthatattheendofthedaywillwindupbeingpatenteligibleandpatentableIthinkisnaïvebecausesomuchinnovationrelatestosoftwareinonewayshapeoranother…”

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Ron Laurie: “Iwouldbetthefarmthattheactualvalueofdealsatwhichpatentsplayamajorroleismanyordersofmagnitudegreaterthanthetotalamountoflitigationawardsinanycomparableperiod,Imeanit'sjusthuge.Theproblemisitsvaried,youknowthepatentportionofthedealseldomgetsseparatelyidentifiedalthoughnowwiththefinancialaccountingstandard141intheM&Aworldyouactuallyhavetoaccountfortheidentifiableintangibleswhichincludespatents.”

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Ron Laurie, continued: “Icantellyoufromsomeonewhoisinthisbusinessthatthewayitsdoneissortofthrowingdarts.Whathappensis,companyAwillbuycompanyBthentheyhavetocomplywithFAS141sotheyasktheirCPAstogivethemanopiniononhowmuchofthe642milliondollarsisattributabletopatentsand6weekslatertheygeta60pagereportsaying46.5millionwereattributabletopatentsandtheysaythankyouverymuchandtheyreportthatandeveryonegoesontheirwayanditmeansnothing.”

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Gene Quinn: “Sodon’tbecounselingyourclientsnottogetpatentsIthinkthetideisgoingtobeturninghereitmayturnslowerthanwewantittoturnbutpatentsareafinancialassetsotheextentthatthepatent[trolls]havedoneanythinggoodforthisisIthinkwokenupeveryonetotherealitythatpatentsarevaluableevenifwecanatthemomentfigureoutwhatthatvaluetranslatesto.”

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Gene Quinn, continued: “Ifyou’reapproachingcompaniestomonetizeyourIPanditslikelytheyarealreadyusingthatIPinonewayoranother,sowhatleveragehavelargercompanieslostgiventheweakpatentmarketthatweseetoday?”

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David Pridham: “IthinktherearealotoftheselargecompanieswhoaresittingontrovesofdormantIPandIthinkthekey—I’vealwaysfoundthekeywhenapproachingthosecompaniesistogowithaplethoraofoptionsastohowtheymonetizetheIP…”

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David Pridham, continued: “…ontheonesideofthespectrumyouhaveenforcementcampaignsandasyougravitatetowardtheothersideofthespectrumyouhavesoftlicensingcampaigns,andyouhavestrategiccampaignswherethey’retryingtodomoreofastrategicbusinessrelatedtransactionincludingsomeoftheexamplesthatRongavetiedtospinoutsorexclusiveusespinoutsandthenthefarrightistheIPbankandthat’sliterallytakingtheIPnothavinganynegativeconnotationsattachedtothesortofprivatehearingmodelofbeingabletoplacethatIPwithastartupandparticipateinsomeoftheupsiderelatedtothatstartupsoIthinkitssortofafalsepremise…”

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David Pridham, continued: “IthinkitisabsolutelytrueandonethingwehaveabsolutelyfoundisthatIPandpatentsareincrediblyvaluabletostartups,nowithastobetherightIPandithastobetherightstartupandtheIPthatyoubringintothestartuphastohavesynergieswithwhatthestartupisdoingandwherethestartupwantstogointermsofitsbusinessbutmakenomistakeIPinincrediblyvaluableeveninthisclimatewherefolkslikeGooglehavetriedtodepressthemarket.”

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Gene Quinn: “Gotanotherquestionhereaboutdoingsearchesandtryingtofigureoutwhatyourcompetitorsaredoingandthispersonsaysattheircompanysearchesareexclusivelyrelatedtononpatentliteratureandisthatkindofsearchhelpful,isthatkindofsearchenoughtobedoing?”

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Ron Laurie: “Wellcertainlyfromapatentvalidityperspective,non-patentliteratureisextremelyimportantandmoreimportantinsomeareasthanotherslikesoftware.That’sifyou’retryingtoattackapatenteitherinlitigationorbywayofnegationinatransactionbyloweringthepricebypointingoutwhattherisksaresonon-patent[priorart]certainlyrelevantformavaliditystandpoint.I’mnotsurehowelseitsrelevant,Iwouldthinkwhatmorerelevant—andthisiswhatthevisualizationtoolsprovideiswhosecomingintothearea,who’sgoingoutofthearea…”

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Ron Laurie, continued: “…thequestionhasapremisethatisnotnecessarilyvalidandthatistheonlypeopleyouapproachwithpatentsarepeoplewhoareinfringingthem.That’scertainlytrueintheenforcementbusinessbecausethat’swhatyou’reselling.You’resellinganon-exclusivelicenseandtheonlythingyougetfromanon-exclusivelicense,asalicenseeistherightnottobesued.Soifyou’renotinfearofbeingsuedthenthere’snothingyou’reinterestedinbuying.”

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Ron Laurie, continued: “Ontheotherhandifyoudoabusinessanalysisandfindoutwhichcompaniesareinbusinesswherethetechnologycoveredbythepatentisusefultothemnotcurrentlyusedbutpotentiallyusefulthenyoucanstartaconversationwiththem,andtheconversationisnotanenforcementconversationit’sacorporatedevelopmentorbusinessdevelopmentconversationandallofasuddenyou’retalkingabouttransferringtechnologyandit’samuchlessadversarialconversation.”

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Gene Quinn: “Andtherealityisyoucouldbedoingthebestsearchmoneycanbuy,spendridiculousamountsofmoneysearchingandyou’renotgoingtofindeverythingthatcouldbeusefulpriorartsoyou’realreadytryingtotriageandspendyourmoneywiselyandgetthebestgoodfaithassessmentthatyoucangetandsoIwouldpersonallythinkifyouwereacompanytryingtofigureoutwhatyourcompetitorsaredoingandwhereyourcompetitorsareputtingtheirmoney,thebestsearchyoucoulddowouldbetokeepuponpatentapplicationstheyhavefiledthatarepublishing.Nowthat’sasnapshotintimefrom18monthsagobutifthey’rewillingtospendmoneytotryandprotectitthatshouldbesomeinformation,itcouldbesomeusefulinformation…”

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Ron Laurie: “There’sactuallyawebsitedevotedtoApple’spublishedpatentapplicationsandthepurposeofitistofigureoutwhattheirnextprojectsaregoingtolooklike.”

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Gene Quinn: “…that’sgoingtobeaninterestingthingparticularlyifthepatent-boxlegislationisgoingtopassandIknowtherearealotofpeopletalkingaboutthatrightnowandthere’sgoingtobetaxincentivesforthesethings.Youknow,neverunderestimatetheabilityforataxloopholetopassthroughcongress.Thenyou’regoingtohaveaverydifferentenvironmentandallthesecompaniesthatarepatentholdersthathavemassiveamountsofrevenuearegoingtohaveacompletelydifferentagendawhichwillbetobolsterpatents.”

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Ron Laurie: “IthinkthemostimportanttakeawayIhavehereisthatpatentsarevaluable,theyremainvaluable,theyremainimportanttobusinessessmallandlarge.”

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Jin Kim: “ThinkofpatentsasyourDNAofyourcompany.TheDNAorthepatentsrepresentwhereyourcompanycamefromanditexplainswhythecompanylooksthewayitdoesandwhyithastheproductsthatitsellsandthingslikethat.Butwhatitdoesbeyondthatisitprovidesawindowintowhatitcould’vebeen.”

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Gene Quinn: “Okay,thankyouguysIreallyappreciateyouallfortakingthetimetochatwithustoday…ifyouhaveanyideasontopicspleasefeelfreetoreachouttomeandvisitIPWatchdog.comandagainthankyoutoInnographyforsponsoringthis.”

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