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Most companies take a reactive approach to assertion of their patent portfolios. When a company is faced with a direct competitor asserting a patent against it or otherwise threatening it, it turns to its patent portfolio for ammunition. Rather, a company should continually mine its portfolio to determine whether there are significant revenue opportunities available, whether currently threatened or not. The investment the company has made in its portfolio is significant and, once ignored, is difficult to recoup.
Our assertion-based licensing clients typically own a large or otherwise valuable patent portfolio. When we are retained by one of these clients, we spend our initial efforts fully familiarizing ourselves with the client, its business and industry (including competition), the technologies that are pivotal within the industry, our client's objectives and expectations and the patents that are provided to us for commercialization. We also gain an understanding of our clients' sensitivities, ensuring that our efforts do not result in other lost business opportunities. Once we fully understand each of the above, we focus on categorizing and creating an effective licensing strategy for specific patents or groups of patents, including understanding the value of the patents. Leveraging our internal engineers and analysts, as well as our outside engineering relationships, we quickly identify a list of target licensees for the specific patents or group of patents. These target licensees are screened against numerous criteria and authorized by the client, prior to our communication with finally-selected targets. During this process, we also prepare the parameters of a licensing program for eventual licensees, setting forth the anticipated terms, prices and limitations of the license. We handle all communications and negotiations of any licensing terms, ensuring that our clients' resources are focused on their core business.
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