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1NOVE MBE R 5 , 2 0 1 5
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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