PERCEPTION PARTNERS | IP STRATEGY CASE STUDY
IP monetization via sell-side patent brokerage
Family gaming business
Perception Partners was contacted by the inventors of a computerized gaming technology to monetize their patent portfolio. The inventors were experts in the casino gaming industry, but were not getting the attention they deserved from potential infringers or acquirers. They were seeking proven licensing and patent sales representation to obtain bona fide offers to acquire their IP.
IP monetization is a shoe leather business. We evaluated the IP and reached the conclusion that there were several infringers with 1-2 major players who would have the capital and motivation to “take out” the portfolio quickly, given the proper incentives. Patent brokerage is often a “shoe leather” business - personal relationships are essential and credibility is paramount. The Perception Partners team traveled to the largest casino gaming show in Las Vegas to make the case for sale. We initially walked the show floor to gather evidence of infringement by multiple firms (which we had already researched). We then visited prospective acquirers, to show not only our client’s portfolio but the stopping power it could have in the exhibit hall.
Understand patent law to get better financial results. During negotiations the main prospective acquirer suggested that the inventors were not the first to invent the patented gaming system, and valued the IP at zero. Perception Partners was able to counter this assertion by demonstrating conception and consistent reduction to practice that predated all asserted prior art. We were able to convince the prospective acquirer that the inventors could “swear behind” the prior art, thus building confidence in the strength of the IP.
Work shoulder to shoulder with counsel. We worked collaborated closely with the inventors’ counsel to collect the due diligence items, negotiate and close the sale of the patent portfolio. We brought the inventors a 7-figure sum, respect for their invention, and ongoing consulting contracts with the acquirer. Truly a win-win.