US Airways - October 2013 - (Page 67)

Down to Business ★ photo and illustration courtesy of ipnav In Springfield, Ohio, stands a statue of Harry A. Toulmin, the attorney who assisted Orville and Wilbur Wright in defending their patent on the first airplane ever successfully flown. Toulmin recognized the value of the brothers’ patent and guided them for years through a legal gauntlet. Without his help, the Wrights’ claim to fame might have faded and Ohio license plates wouldn’t proclaim the “Birthplace of Aviation.” Erich Spangenberg and his team at IPNav help innovative entrepreneurs today just as Toulmin helped the Wright brothers. He says that inventors, whether individuals or organizations, often don’t realize how valuable their patent, or intellectual property, is — until someone tries to copy and profit from their idea. And Spangenberg says it’s about more than winning court battles. “Patents are valuable business assets,” says Spangenberg, IPNav CEO and co-chairman. “You’ve developed an idea that no one else has, and in order to benefit from your hard work, you need a strategy for how to capitalize on the value. It’s what we call patent monetization.” Patent monetization might be a mouthful, but it’s a simple concept. IPNav advises clients on how to set a value for their patents, how to best manage those assets, and how to maximize revenue. “Instead of letting that patent just sit on a shelf, make it work for you,” Spangenberg says. More companies are catching on. When AOL sold 800 patents in 2012 to its rival Microsoft for $1 billion, AOL’s stock rose 43 percent and the company’s book value doubled overnight. But patent monetization isn’t just for struggling companies. Spangenberg points out that Microsoft earns more revenue by licensing its patents to Android phones than from sales of its Windows Mobile operating system. It was Spangenberg’s search for help with patents that he and his wife, Audrey, had acquired which led to the creation of IPNav in 2003. “We were looking for a company that could partner with us, provide analysis and financing, and help with commercialization and litigation, if needed, but we couldn’t find anyone,” he explains. So Spangenberg created IPNav and its Full Service Monetization Platform. Since 2003, the Dallas, Texas–based company has negotiated more than 600 licensing transactions and earned more Pursuits of Success Patent Monetization Services Landscape Flexibility of customer engagment Experience model Rational price discovery Time to money Commercialization NPEs* IP Advisory Law Firms Brokers IPNav *Non-Practicing Entity: companies that buy patents for cash or for a combination of cash and licensing revenue than half a billion dollars for its clients. Today, IPNav’s team of 80 employees works across the globe — Dublin, Paris, Shanghai, and Tel Aviv — assisting a large and diverse group of corporations, universities, nonprofit organizations, and government agencies. IPNav president Deirdre Leane explains that the company’s full-service approach attracts a variety of clients. “We take the project from start to finish, and there are few companies offering that complete spectrum,” Leane says. “We have proprietary tools for evaluating patent portfolios and individual patents. We have access to financing, and we don’t require any up-front payment. We get you’ve developed an idea that no one else has, and in order to benefit from your hard work, you need a strategy for how to capitalize on the value. — erich spangenberg, ipnav ceo and co-chairman paid only when our clients get paid.” Leane says that IPNav determines the monetization method best suited to each client’s financial goals and business objectives. Monetization options cover selling a patent, licensing it, or other structured transactions. And while litigation is an option, it’s never cheap. “Some companies are simply using the court system to set a market value on patents,” she says. “This is very expensive and inefficient.” usairwaysmag.com october 2013 67 http://www.usairwaysmag.com

Table of Contents for the Digital Edition of US Airways - October 2013

Table of Contents
CEO Letter
From the Editor
Did You Know?
Making It Happen
Hot Spots: Top Spas at Top Resorts
Wine & Dine: Mail-Order BBQ
Wine & Dine: Hard Cider
Golf: The TOURAcademy at TPC Sawgrass
Adventure: P.F. Chang's Rock 'n' Roll Marathon
Style Spotlight: School Colors
Diversions: City Ghost Tours
Gear Up: Just for Sports Fans
Down to Business: Columbus, Ohio
Chefs Tell: Smith & Wollensky
Charlotte USA
Travel Feature: Maui
US Airways: BE PINK Campaign
Down to Business: IPNav
Going the Extra Block: Philadelphia Neighborhoods
University Spotlight: University of Dayton
Best of Health: Miami Beach Foot and Ankle Surgery
Best of Living: Eagles Nest
Great Dates
Puzzles
Readers Resource Index
Your US Airways Guide
Video Entertainment
Audio Entertainment
U.S. and Caribbean Service Map
International Service Map
Airport Terminal Maps
US Airways Fleet/Customs & Immigration
Passenger Info/Contact US Airways
US Airways MarketPlace®
Window or Aisle?

US Airways - October 2013