Fifteen years ago, the notion of selling a patent was sacrilegious. An IP manager at Kodak didn’t walk up to their boss in 1998 and say ‘Hey, let’s sell a few of our patents.’ That manager would have instantly been laughed at, or thrown out of the building.
Times have changed.
Now, there is a thriving – but non-transparent – marketplace where patents are bought and sold in a secondary market. While the vast majority of patents are still worthless, and the bar on quality needed for a sale has risen significantly, the market has continued to double in size since 2006 into a multi-billion dollar market, despite a global recession and a struggling economy. In other blogs, I detail the history of this space, what is currently selling, and future trends.
The Introductory Track of this blog illuminates the patent transaction market for beginners and patent owners curious about the space, or other tech execs and media wondering what the blue hell is really happening in the quickly evolving patent industry.
In this regard, I will shed much needed light on the opaque patent transaction marketplace – its methods, players, pitfalls and clandestine shenanigans. The patent monetisation space is unlike any other industry out there. For better or worse, the industry is shrouded in secrecy; Confidentiality hides the vast majority of transactions from market visibility; many buyers operate with cloak and dagger tactics that would make James Bond blush.
As an arms dealer for the patent wars, it is my job to know things that 99% of the patent industry does not. I’m often privy to developments and insights before they become public, if they ever do. While I will never break confidences, or compromise a competitive advantage, there is still plenty to illuminate aspects of this industry for the benefit of patent owners and innovation.
Many patent problems arise because of the industry darkness. This darkness is intentional; many actors in the space benefit from the lack of visibility. Such imbalances should not exist in a fully transparent and healthy market. The patent monetisation industry is still relatively new, and like the stock market in its early days, it will take years to evolve and correct the early issues.
These Introductory Track blogs will also provide insights regarding how the patent monetisation industry enables and impacts innovation in general, particularly as patents play an increasing role (good and bad) in high tech while mostly misunderstood by the vast majority of investors, media, and high tech execs.
Given my background as a Silicon Valley StartUp Founder, a connected patent transaction intermediary who sees almost everything in a space with no transparency, a serial inventor, a patent owner, a registered practitioner before the US patent bar since 1998, and a Silicon Valley veteran, I have visibility into the intersection of patents and innovation that very few have.
Times have changed. Kindly allow me to illuminate.