Tag Archives: Transactions

IPCU readers can save $200 on IP Dealmakers Forum Nov 6-8 in NY

Patent monetization is alive and improving.

Look no further than the 5th annual IP Dealmakers Forum, which will attract the top players in IP licensing, sales and litigation funding to the Alexandria Center overlooking NYC’s East River, November 6-8.

IP CloseUp readers can save $200 off of registration by using discount code IPDF18_CIPU.

Panels include:

  • IP Market Roundup: Light at the end of the Tunnel
  • In Patents We Trust: Government Updates & Outlook
  • Leveraging Data to Identify Valuable Patents
  • SEP, FRAND & Getting Ready for 5G
  • IP Investors Roundtable: Opportunities In and Around IP
  • What Matters Now: Navigating the New Deal Landscape
  • Corporate Governance & Activist Investing in IP

One-to-one meeting and networking sessions will be held throughout the conference.

A partial list of speakers includes:

  • Erich Andersen, Corporate VP & Chief IP Counsel, Microsoft
  • John Lindgren, CEO, IPVALUE
  • Todd Dickinson, Former Director, USPTO
  • Fred Fabricant, Head of IP Litigation, Brown Rudnick 
  • Paul Michel (ret.), former Chief Judge of CAFC
  • Hans Sauer, Deputy General Counsel for IP, BIO

For the full IPDF agenda, go here.

To register, go here.

CLE credit is available.

Images source: ipdealmakersforum.com

Can blockchain be a game-changer for millions of IP transactions?

The abundant promise of blockchain has yet to be realized. To many in IP, finance and tech, it is just beginning to come into sight.

The initial application of blockchain’s distributed ledger, bitcoin, has turned out to be more of a speculative sideshow than a legitimate alternative currency. We hear repeatedly that bitcoin is merely the first of many possibilities, and that blockchain should not be judged on the basis of bitcoin.

Fundamental Change?

One of the most intriguing areas of potential for blockchain, or encrypted distributed ledger of data, is transacting IP rights — so-called smart transactions. Smart transactions aim to make more efficient millions of copyright, patent and trademark licenses by providing greater transparency and the removing costly middlemen. It sounds great – but can it really happen or is it merely the alchemists’ fantasy?

In April, Managing Intellectual Property, magazine ran a feature on blockchain, “Blockchain Party,” which can be found here. The special report discusses how blockchain will fundamentally change IP transactions, and haw already started to. The race for blockchain patents is well under way, with U.S. and some European banks, fintech firms and tech companies jockeying for position with the Chinese.

Who use blockchain?

The following infographic from Bitfortune.net, a bitcoin promotion and gaming website, offers 16 industries and areas where distributed ledger adoption is underway. (Sources for the data are offered at the bottom of the graphic. They have not been checked.)

Bitfortune says “many experts believe that blockchain will change our world in the next 20 years as much as the internet has over the past 20.”

[Three useful blockchain articles follow the long infographic below.]

 

More on blockchain:

IP CloseUp: 59% of blockchain patents are owned by developers; BofA and IBM dominate banks and tech players.

DS Avocats: Blockchain, Smart Contracts and Intellectual Property.

WIPO Magazine: Blockchain and IP Law: A Match Made in Crypto Heaven?


Inauspicious Beginnings

Can blockchain shake off its inauspicious beginnings as bitcoin foundation and deliver on its promise?

Many are pulling for it, including me and several banks, fintech businesses and technology players, who are either investing heavily or hedging their bets.

 

Image source: bitfortune.net

Responsible deal-making is the focus of SF IP conference, 9/18

Responsible IP deal-making – where parties enter into licensing and other agreements mutually – has become something of a lost art. Not long ago, it was a best-practice.

Many companies need to in-license to practice the inventions that cover their products. Similarly,  not every business has the capital to make products from its inventions. Those that do not, may need to out-license. Once a symbiotic relationship that could be effected without the need for litigation, much patent licensing has turned contentious and patent holders who wish to license are seen as bad actors.

“Patent Licensing: The Business of Responsible Licensing” hopes to change that. The location is the Golden Gate Club in San Francisco on September 18.

Post-“Troll” Environment

The day of the so-called “troll,” where licensing businesses armed with nuisance suits forced businesses to settle, is long gone, the victim of increased patent uncertainty and the high cost of litigation.

What is responsible licensing in today’s environment? What are fair and reasonable terms? This conference will examine various sides of the issue.

IP CloseUp readers receive a 15% discount with a promo code or mention they saw this article. (Service providers may not be eligible.)

Participating in the day-long event are licensing executives from Dow, Nokia, Visa, Samsung, Cisco, Intel, among others. Panels include:

  • Building a successful patent licensing strategy
  • The good, the bad, and the ugly of licensing transactions
  • Defining FRAND
  • International licensing
  • Strategic licensing scenarios

There will be ample breaks and time for networking.

For the complete program, go here.

For the list of speakers, here.

To register, go here.

Image source: iammagazine.com; mckinsey.com

 

 

China says it leads the U.S. in blockchain patents and investment

While China is no fan of bitcoin mining – it has moved to close mining operations – it is actively pursuing block chain patents, and is touting its leadership over the U.S.

China is the leading country for blockchain patents with Alibaba and PBOC on top, claims TechNode, a Chinese IP publication that partners with TechCrunch. Blockchain is a shared digital ledger that facilitates transactions, but whose practical application has yet to be determined. A wide range of U.S. financial institutions and technology companies are interested in blockchain, as well financial technology startups, many of whom have high valuations.

Out of the top 100 companies, reports TechNode citing Chinese data, 49 were Chinese, 23 from the US (see below for table of top 100 rankings). It is unclear if the leadership is in U.S. or China-issued patents, or both.

“An increasing number of companies in China are seeking ways to patent blockchain-related inventions, an effort that is in line with the Chinese government’s agenda to push forward with FinTech applications,” reports CoinDesk.

As reported by CoinDesk previously, major financial institutions, namely Bank of China, have already weighed in on issues such as blockchain scaling. (See “China’s Biggest Political Event Sees Blockchain Praise“)

China Blockchain Growth Exceeds the U.S.

IPRdaily, a Chinese language “integrated services organization focusing on new media for intellectual property and is committed to building the most influential IP cooperation platform in the world,” follows blockchain developments.

A report from IPRdaily – which is readily translated on Google Chrome browser – shows that blockchain financing growth in China far exceeds the United States, leading the world. The statistics show that as of December 17, 2017, the global total market capitalization of digital assets has reached 600 billion US dollars, compared with only 17.7 billion at the end of 2016. In less than a year, an increase of nearly 3300%.

Image source: iprdaily.com; technode.com

IP CloseUp visits up 26% in 2017; page views up 31%; readers drawn from 134 nations and territories

IP CloseUp, the blog of IP perspective, research, and people, grew in 2017 to more than 56,000 views and 44,000 visits, up 26% and 31% respectively from 2016.

Now in its seventh year, IPCU was read in 134 nations and territories in 2017. The top ten readers were the U.S., Canada, India, UK, New Zealand, Australia, Germany, South Korea, Taiwan, and France.  They were followed by the Netherlands, Japan, and China.

The most active month in 2017 was January, with 20,357 views. IPCU averaged a post a week and generated 52 posts for the year. Posts typically include links that make further research and exploration easier.

Since its inception in 2011, there have been more than 120,000 visits to IP CloseUp and 176,000 page views.

The most read post this year was about Robert Kearns, inventor of the intermittent windshield wiper, who was forced to sue U.S. and other automobile companies in the 1980s for patent infringement. The Kearns post generated 17,548 visits in January. A subsequent Kearns post published in 2016 can be found here.

IP CloseUp coverage includes patents, as well as copyrights, trademarks and trade secrets. Subscriptions are free. IPCU can also be followed on Twitter @ipcloseup.

Image source: http://www.ipcloseup.com

Bank of America is granted (another) blockchain-type patent

Bank of America was granted last week a patent on a “cryptocurrency transformation system” that comprises a platform to manage exchange rates between various currencies, transfer requests, and customer accounts.

The timing could not be better. The price of a bitcoin as of December 12 is $17,756.96, up from $1,000 on January, and the premium on cryptocurrency and blockchain patents is sure to rise, too.

“Enterprises may handle a large number of financial transactions on a daily basis,” reported ETHnews, citing the bank’s patent. “As technology advances, financial transactions involving cryptocurrency have become more common. For some enterprises, it may be desirable to exchange currencies and cryptocurrencies.”

Blockchain-type Patents 

It is interesting to note that inventors from four different states are shown on the patent –  Georgia, Colorado, Florida and North Carolina, BofA’s home state. This may give some indication of the seriousness which it is taking the patent.

Top Assignees

According to an article in IP Watchdog, the four top assignees in the blockchain/cryptocurrency area are Bank of America, Mastercard, Paypal and CapitalOne, all financial entities. They followed by technology-based businesses IBM, Microsoft, Amazon and Apple.

Both groups appear to be pursuing leverage.

It is estimated that the Bank of America has filed more than 20 blockchain patents over the past four or five years. Its interest is unclear, but it may well simply want to prevent patent disputes by holding key patents.

For a copy of the new patent, issued on December 5, go here.

 

Image source: uponarriving.com; ipwatchdog.com

Update: 62 weird but strangely useful facts about bitcoin

$100 invested in bitcoin in July 2010 is worth about $6M today. For many, it is still unclear if blockchain is a viable alternative currency, an investment or a scheme that has made some people rich.

One Bitcoin today currently equals $7,416.88, up from under $500 over a year ago.

With those multiples you can see why patent and other IP holders are highly interested in the future not only of bitcoin, but other blockchain based crypto-currencies and transaction platforms. If bitcoin, which started it all, is far from perfect, blockchain, the technology that provides its basic infrastructure, can be seen as bitcoin 2.0.

The number of cryptocurrency and blockchain-related patent applications being submitted and published in the US has nearly doubled in 2017, reports Coin Desk.

Data from the US Patent and Trademark Office (USPTO) database indicates that there were 390 patent applications related broadly to blockchain technology published between January and July of this year.

“Overall, this represents a 90% increase compared to the same period in 2016, when 204 applications were sent to the USPTO,” said the publication.

The dataset includes combined keyword search results using terms such as “bitcoin,” “ethereum,” “blockchain” and “distributed ledger,” among others.

Bank of America has been among the most active filers. Three new submissions, initially filed with the USPTO early last year, add to a total of 20 blockchain and cryptocurre

ncy-related patent applications filed by the bank since 2014.

Diversity of Perspective

Not everyone agrees that bitcoin should be greeted with unbridled enthusiasm.

“Right now these crypto things are kind of a novelty,” JP Morgan CEO Jamie Dimon told a CNBC-TVreporter in New Delhi. “People think they’re kind of neat. But the bigger they get, the more governments are going to close them down…”

“It’s creating something out of nothing that to me is worth nothing,” he said. “It will end badly.”

Dimon was concerned that with bitcoin, ethereum and various initial coin offerings (ICOs), there are now cryptocurrencies everywhere. Several nations have even banned bitcoin.

Early Adopters

Despite Dimon’s comments, 69% of banks that participated in an Infosys survey reported that they were experimenting with permissioned or private blockchains, and some governments and an increasing number of companies, including Dell, Microsoft and Expedia accept bitcoin as payment.  The FBI, states the image below developed by a gambling site bitcoinplay.net the developed the image, owns 1.5% of all bitcoins.

Below is an infographic that updates an earlier IPCU post. It’s called “62 Insane Facts About Bitcoin.”

 

Image source: bitcoinplay.net; bitcoin.com

Global focus+ at IP Dealmakers Forum; IPCU reader’s save $200

Attendees to this year’s IP Dealmakers Forum can expect an expanded international perspective to the timely content and networking. This year’s keynote is Dr Lulin Gao, Founding Commissioner of the Chinese State IP Office. 

IPDF, now in its fourth year, emphasizes quality of content and attendees. Last year IPDF hosted more than 200 one-on-one private meetings.

“We are honored to have Dr. Gao as our keynote speaker this year,” noted Wendy Chou, Co-Founder of IP Dealmakers Forum.”He provides a timely and rare opportunity to gain insight into how China’s IP system really operates — straight from the source.“

Dr. Gao will present current data from the courts, providing attendees with valuable access to information that is not readily available.

Often referred to as the founding father of the modern Chinese IP system, Dr. Gao was the first Commissioner of China’s State IP Office, the longest standing Commissioner of the Chinese Patent Office, and a senior advisor to the WIPO. He is the recipient of numerous honors and awards for his contributions in IP.

Last year, almost two-thirds of IP Dealmakers Forum attendees were investors and significant IP owners. I attend IPDF regularly. The Apella event space at the Alexandria Center, over the East River in NY, just south of United Nations headquarters, is a unique and conducive environment for an IP transaction summit of this nature.

Program & Discount

For the IP Dealmakers Forum 2017 program and panelists, go here.

IP CloseUp readers to here to receive a $200 discount off the registration fee.

 

Image source: 

London IP Summit will feature transaction leaders; Washington patent policy event, a US Senator

Two timely IP conferences, one in London focusing on patent deals, and the other in Washington, looking at patent policy issues, will take place in this fall. 

This year’s London IP Summit will be held at the London Stock Exchange on October 16,and feature several of the leading figures in patent licensing and transactions.

So far, they include Stephen Pattison, ARM; Kasim Alfalahi, Avanci; Gustav Brismark, Ericsson; Roberto Dini, Sisvel; Tim Frain, Nokia; and Manny Schecter, IBM.

“The London IP Summit is an industry leading event dedicated to bringing together IP owners, experts and investors to address key challenges and operational issues faced by companies and IP professionals today,” reports LIPS.

“Due to the sensitive nature of the topics discussed, LPS-London IP Summit is the only IP event organised under the Chatham House Rule*, offering safe and secure environment to speakers and to attendees in order to encourage openness and sharing of information. Participation at the event is by invitation only

 * When a meeting, or part thereof, is held under the Chatham House Rule, participants are free to use the information received, but neither the identity nor the affiliation of the speaker(s), nor that of any other participant, may be revealed.

For the full program or to register go here.

*****

In Washington, DC on November 14, IAM is presenting the 3rd annual Patent Law and Policy conference, “Courts, Congress and the Monetization Landscape,” at the Reagan International Trade Center, across the street from the White House. The event will provide the political background needed to put IP into better context amidst changes.


Coverage includes the latest Supreme Court decisions and the machinations in Congress, to the policies of the Trump administration, the event provides delegates with timely and relevant insights from panelists representing a broad cross-section of the patent community.

Senator Chis Coons (D-Delaware) will be a speaker, as will interim USPTO Director Joseph Matal.  Laurie Self of Qualcomm, a passionate defender of the right to license patents, also will present.

For the Patent Law and Policy program or to register, go here.

Register by October 6 using code ONLINEEB to receive $100 off the standard rate. (CLE credit is available.)

 

Image source: 10times.com; qualitytalks.com

Blockchain patent publications picked up speed in August

An uptick in recent blockchain patent publications may be an indication that the technology is quietly picking up steam, with competing big banks and tech businesses vying for leadership.

“The US Patent and Trademark Office (USPTO) published in late August 2017 nine additional patent applications related to blockchain technology that was filed by Bank of America,” reports The Coin Telegraph, an industry publication.

The patents, which relate to the carrying out and settling transactions within a payment network, were all filed on Feb. 22, 2017, so the process took only seven months. So far, BofA has filed over 30 blockchain technology-related patent applications, including some 18 in 2016.

“The various patents already filed by the bank mainly focused on the whole cryptocurrency exchange and payment process. Among them were the areas of real-time conversion, transaction validation, risk detection, and online and offline storage.

“The other patents involved the use of distributed ledgers to validate the factualness of information and those who handle it, as well as a peer-to-peer payment system that operates on the blockchain.”

In September 2016, the bank partnered with Microsoft for a joint project aimed at developing and testing blockchain applications for trade finance.

“Under the deal,” reports The Coin Telegraph, “the bank will collaborate directly with Microsoft Treasury for the creation of a Blockchain system that can speed up transactions between the partners.The partners have already hinted that they are already testing how the system can facilitate the letter of credit process.”

***** 

Leading cryptocurrency startup Coinbase received in mid-August a patent related to a security system for storing and distributing private keys.

The USPTO approved and published the patent on August 15, reports Econotimes.com. Entitled “Key ceremony of a security system forming part of a host computer for cryptographic transactions’, the patent lists former Coinbase engineers James Hudson and Andrew Alness as inventors, CoinDesk reported. The patent application for “key ceremony” was submitted in 2015. The startup has filed a number of patents related to security of private keys in the past.

*****

Also last week, the USPTO published the details of Visa’s new patent application. The biggest credit card company’s plans for the digital asset network are quite broad, reports Bitcoin Magazine. However, it might be possible that the company is planning to file a patent for the Visa B2B Connect.

The blockchain enterprise company Chain and Visa announced their new partnership in October 2016, in which the two firms decided to develop “a simple, fast and secure way to process B2B payments globally.” The Visa B2B Connect platform’s pilot is expected to launch in 2017, indicating a connection between the USPTO digital asset network patent and the new B2B solution.

*****

Coincidence? Maybe. Publication dates cannot be controlled, but they can be managed. A spate of controversial financial transaction patents publishing in mid-August should draw more attention than they would otherwise deserve.

 

Image source: datafloq.com; cointelegraph.com

An AT&T-Time Warner deal may affect the value of more than premium content & copyrights

The $85.4 billion buyout of Time Warner Corporation (TWC) by AT&T, if it goes through, is a good omen for the value of content providers, like HBO and CNN.

It is unclear, however, how the ambitious acquisition will affect less well-branded copyright holders like independent film productions, TV studios and recording artists dependent on digital distribution.

If content is now truly king, the tide may rise broadly, and rather rapidly.

If nothing else, the proposed acquisition conveys a heightened respect for content – and willingness to pay premium for it – that Google, its YouTube subsidiary and others have heretofore been reluctant to acknowledge.

“The deal is probably neutral for copyrights, but it has the potential to be positive,” one purveyor of music and the content told me from Los Angeles. “The combined entities will still be about half the size of Google, and will be saddled with $120 billion in debt. With those numbers, AT&T’s 5.1% dividend may longer be a given.”

Time Warner is the world’s largest diversified media company.

AT&T’s $107.50 per share offer is 35% premium over its market value. You have to wonder what the transaction might do to secondary content brands like indie labels and movie producers. It’s not just about having a great lineup, but about the particular content that Internet provides believe audiences will crave, which is currently in flux.

AT&T is betting that premium content will matter deeply. Other streaming services are not so certain.

The Future of TV & Broadband

If all of this sounds a bit speculative,” reported The New York Times, “that’s because it is. What this deal actually symbolizes is that the future of television is increasingly going to be built on lots of bold, possibly speculative, experiments.”

Recent acquisitions by Verizon included AOL and Yahoo, which some view as content. I tend to believe that content protected under copyright, and premium content (HBO, CNN) will certainly benefit.

time-warner-1-1024x390

This chart represents TWC prior to the sale of  AOL to Verizon.

 

Bad Business or Goog Timing?

Is the AT&T-TWC deal inherently anti-competitive or merely timely recognition of undervalued assets? After the deal will all content delivery continue to be treated fairly on the AT&T network so far as delivery speeds are concerned?

Will Disney, Comcast – which had acquired NBC-Universal – and Fox move swiftly to shore up their own content?  It’s too soon to tell, but there may be more pressure on Google to become more proprietary with regard to content (and maybe patents) than it has in the past.

It also will be interesting to see if there is a ripple effect on streaming content like music with services like iTunes, Pandora and Spotify.

A list of assets owned by TWC can be found here.

Image source: cnn.com; valuewalk.com

Accenture upsets blockchain believers with patent filing

Consulting giant Accenture has rattled the cage of the fintech community by filing a patent for an “editable” blockchain that would allow a central administrator to edit or delete information stored in a permissioned blockchain system.

Business Insider cites a Financial Times report that states a permissioned system is governed by a central administrator using agreed upon rules. This differs from permissionless systems, like those used by blockchain pioneers such as Bitcoin, which have no central authority. A key feature of permissionless systems is that the records they contain cannot be changed.

Accenture unveiled a prototype of the blockchain on Tuesday developed jointly by Accenture and Giuseppe Anteniese, a Stevens Institute of Technology professor.

accenture-quarterly-revenue-rises-97-percent-2014-9

Undermining Immutability?

“An editable system goes against one of blockchain technology’s key principals — immutability” reports Business Insider. The move is controversial to many because blockchain was conceived as an immutable, tamper-proof ledger, which eliminated the need for a centralized authority.

Accenture insists that immutability is not necessary in permissioned systems because everything is overseen by a single governing authority, and argues that the need for it in a permissionless system is part of the reason banks have been slow to create viable use cases with blockchain technology.

Business Insider thinks the success of Accenture’s system will depend on “whether or not financial services firms intend to use blockchain for use cases that require flexibility. Should they decide to implement the technology in more straightforward capacities, like managing their customers’ personal details, Accenture’s functionality would not likely be especially useful.”

Patent Application

There is no indication why a mere patent application — not a publication, notice of allowance, grant or successfully adjudicated right —  has reached this level of media coverage. Of late, blockchain-related patent filings, as well as issuances, have received significant coverage, prompting some to question where blockchain is headed.

Image source: businessinsider.com; bitcoinmagazine.com

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