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ARTICLE: "SOFTWARE & VALUATION IN THE INFORMATION SOCIETY" BY DWIGHT OLSON
The LES mantra of the 1990s was that "Wealth in the 21st Century would be measured in ownership of intellectual property." Well, the information age is here and we see an increasing number of corporations accumulating wealth based on intellectual property including Software. We watched Microsoft’s enterprise value pass one quarter of a trillion dollars and annual revenue exceed fifty billion dollars, with much of it due to Software licensing. Yet, we see few line items on their corporate financials touting ownership of intellectual property including Software assets. One is left with the thought, “where’s the beef?” CONSOR’s Dwight Olson explains...Download article
CONSOR HELPS ADIDAS WIN LARGEST TRADEMARK AWARD IN HISTORY: $304.6M
As the damages expert on behalf of adidas in their recent litigation against Payless ShoeSource (now Collective Brands, Inc.), David Drews of CONSOR Intellectual Asset Management educated the jury on an appropriate level of compensation for the use of adidas’ intellectual property. Mr. Drews utilized real-world licensing data to demonstrate the likely outcome of a hypothetical negotiation between adidas and Payless. Using these straightforward techniques, the jury was able to determine the amount of royalties owed to adidas for the use of infringing two and four stripe shoe designs.
On May 6, 2008, a federal jury in Portland, Oregon ordered Payless to pay $304.6 million for infringing on adidas’ three-stripe trademark and shoe styles. The nine-person jury in U.S. District Court unanimously awarded $30.6 million in actual damages, $137 million in punitive damages and $137 million in Payless profits, according to a transcript of the proceeding.
Trademark attorneys believe it to be the largest award ever in a trademark-infringement case, surpassing a $143 million judgment in 1999 over the use of Trovan on antibiotics, a case in which Weston Anson of CONSOR acted as the damages expert.
CONSOR SELLS COLLINS & AIKMAN IP AND INTANGIBLES
Since being retained in October, the CONSOR asset disposal team has been successful in identifying a global group of buyers and bidders for the Collins & Aikman IP portfolio. The portfolio consists primarily of technical assets, patents, and technologies. “By reaching out worldwide we have been able to conclude sales for half a dozen distinct bundles or groups of assets,” said Daryl Martin. Mr. Martin went on to say that CONSOR intends to wrap up the sale of 95% of the IP and intangibles by mid March, but will continue to market the rest of the assets for some period of time thereafter. Click here for a full list of CONSOR’s recent dispositions.
DEPTH OF CONSOR INTELLECTUAL PROPERTY LITIGATION SUPPORT PRACTICE GROWS DRAMATICALLY Click here for our brochure
Our practice is functionally divided into the following areas: Expert witness, economic value and damages, infringement and confusion, customs and practices, and bankruptcy. Our focus spans a broad range of companies, industries, and product categories. The most important aspects of our work include: Trademark and corporate brand assets, patents and technology, celebrities and estates, media and not-for-profit organizations, electronic, Internet and software as well as sports and events. A partial list of our past clients include:
Akin, Gump, Strauss, Hauer & Feld
Anderson Kill & Olick
Baker Hostetler
Christensen, Glaser, Fink, Jacobs
Dorsey & Whitney
Fish & Richardson
Greenberg Traurig
Johnson, Pope, Bokor
Kilpatrick Stockton
King, Holmes, Paterno
Kirkland & Ellis
LeBoeuf Lamb
Loeb & Loeb
Manatt, Phelps
Manning & Marder
McDermott, Will & Emery
McGuireWoods
Miller, Barondess
Mintz Levin
Nagler & Associates
O’Melveny & Myers
Perkins Coie
Pillsbury, Winthrop, Shaw, Pittman
Procopio
Quinn Emanuel
Robins, Kaplan, Miller
Ropers, Majeski, Kohn, Bentley
Schadrack & Chapman
Shuttleworth & Ingersoll
Stevens & Lee
Venable
Wilson, Sonsini, Goodrich & Rosati
Winston & Strawn
Wiley Rein
Zuber & Taillieu
COPYRIGHT ROYALTY BOARD, LIBRARY OF CONGRESS ADOPT CONSOR ROYALTY OPINIONS
XM and Sirius recently went through a series of hearings to establish appropriate copyright fees for non-music programming. In a public hearing before the copyright board to plead their case, XM/SIRIUS selected CONSOR’s valuation and licensing team to establish appropriate royalty rates. The three person panel elected to adopt CONSOR’s valuation recommendations as the basis for ongoing royalties—thus saving XM/SIRIUS billions of dollars in royalties over the next decade.
During the assignment, CONSOR analyzed and valued the intangible brand asset components of several important non-music programs, including Howard Stern, Martha Stewart, NASCAR, Oprah, and Major League Baseball, and Sirius. CONSOR reviewed the contracts, researched the commercial valuation techniques to the value components of each contract. CONSOR was also asked to respond to the questions from the Court as to the valuation of the promotional and other aspects of the non-music programming contracts put at issue by SoundExchange in this proceeding.
SOFTWARE/IT PRACTICE SUBSTANTIALLY EXPANDED
Dwight Olson, past President of the Licensing Executive Society in North America, has brought his expertise and contacts to CONSOR. At the very forefront of software, valuation and evaluation issues, Dwight and his team joined CONSOR’s existing software and IT practice. His career in software began in the research and development of super computers, parallel profiling systems, and related application architectures of the 1960s. From there, he has stayed at the leading edge, founding the first source code/technology escrow company, Data Security International (now apart of Iron Mountain, Inc.). Dwight Olson makes the following observations about software and IT in today’s business environment:
CONSOR & VERSION 2.0 OF THE INFORMATION SOCIETY
Version 2.0 of the information society takes shape and has arrived with increasing reliance on Software based Intellectual Technology (S/IT). S/IT come in various forms they can be as simple as information covering a color scheme for a package, a client/prospect list, or a massively scalable online financial system. An S/IT can be as complex as a trillion lines of source code for a computer operating system, or it can be as subtle as the process sequence of certain manufacturing steps. S/IT often make a huge difference between success and failure for a corporation.
Probes for transparency to understand a corporation’s intellectual property assets and how they are used are changing both the governance of S/IT assets and their financial importance. Governments want to be able to tax appropriately, and the financial world wants to have a more knowable investment in a digital company and its future. Whether working in bankruptcy and reorganization, on a FASB 142 Purchase Price Allocation (PPA) assignment or merger and/or acquisition, we see a broad range of intellectual assets in the form of intellectual property and intangibles. Whether it is a merger or a bankruptcy there is impact on the deal by these S/IT assets. There are three key questions: Which of these software assets have value? Which of these software assets could be lent against? And, third, how much do we lend?
CONSOR’s S/IT Group provides software analysis and valuation. This new service looks at the sum total (or bundle) of the various Intellectual Property (IP) component plus other intellectual assets that make software usable or a commercial product. Intellectual Property “protects” IP components of the S/IT, and builds ownership and brand/market power. CONSOR built its analysis and valuation of S/IT around FAS86 and integrated this into its core competency. The development of FAS86 was the first study to recognize and quantify software as a financial asset and was first outline by work leading to FAS86 in 1985.
HOT TOPICS
PATENT REFORM ACT BEING DELAYED AGAIN
The new patent reform act of 2007, the so-called “Reform Bill”, has been delayed because of the controversies surrounding specific provisions. Those are the provisions dealing with a limit on damages remedies in patent infringement, where the limit on damages would be established as the net contribution over and above the portion attributable to the prior art or other technology or patents contained in a product – in other words, instead of being able to award damages based on the total value of a product (an entire cell phone, for example), damages would be based only on the improvement or incremental contribution made by the specific patent being infringed.
Large IT companies and other technology companies are trying to reign in huge patent settlements ones like the $600 million plus award that NTP won from Research In Motion, the maker of the Blackberry wireless device, is a good example. Another example is the $1.5 billion award that Lucent briefly won from Gateway and Microsoft – currently under review.
While it appears that some of the Senate’s leadership is sympathetic for large technology companies, there is a small group of very high profile inventors and investors like the Segway designers and some of the Apple technology people, as well as venture capitalists, and a growing array of smaller businesses that do not share the market power of these larger companies. In addition, opposed to the patent reform act is the pharmaceutical industry, which has traditionally relied on the protection of a strong patent system.
As of April 18, 2008, it was announced that legislation which would overhaul the nation’s decades-old patent system is stalled in the Senate. Prospects are dim for the initiative, which would make patents easier to challenge and, more importantly, would reign in damage awards in patent litigation. Negotiations are ongoing among key Senators forcing the Chairman of the Senate Judiciary Committee, Patrick Leahy, to give up plans to bring the bill to the Senate floor this month. It is now not clear when or even if the measure might reach the floor of the Senate.
STRONG BRANDS AND TRADEMARKS CAN`T SAVE RETAILERS
Store closings, downsizings, bankruptcies, and even outright liquidations of retail chains are taking place at a remarkable rate – and this is amongst brands with trademarks as strong as any we see in the marketplace today. Outright closures include companies like Pacific Sunwear which is shuttering its 150-store chain, Demo. It also includes the Bombay Company, which held its last sales in January and is now liquidating all of its assets.
Strong brands and trademarks heading into bankruptcy include Sharper Image and Linens ‘N Things. Both of these chains have sought the protection of the bankruptcy courts and are hoping to reorganize. Even strong trademarks and brand franchises couldn’t save them from the protection of the bankruptcy courts. Amongst retail brands using world famous trademarks that are downsizing are Home Depot, which is closing 15 of its largest flagship stores and postponing the opening of 50 others. Foot Locker is closing 140 stores and Ann Taylor is closing more than 100, as is Zales the jewelry chain.
Even Starbucks is suffering. Expansion plans are down and they are shuttering approximately 100 stores. What does it all mean? It means that in today’s tightened economy and consumers’ reduced circumstances, even the strongest trademarks and brightest brands are not sufficient to ensure sustained or continued growth and success.
NEW IP ROYALTY DEAL TO SPEED UP CELLULAR SERVICES
In early April, a group of major manufactures, including Nokia, Alcatel, Lucent, Ericsson, and NEC Corp., agreed to limit the royalty fees they charge to license each others patents, related to the key technology known as LTE – or Long Term Evolution. Very soon, wireless operators like Vodafone Group and AT&T and Verizon are expected to build the next generation of mobile networks using LTE. The technology will allow faster web browsing and downloads over mobile phones and other devices. Because many of these companies hold overlapping patents that cover only certain aspects of the LTE technology, a master licensing deal was needed. With this new licensing framework in place, the equipment makers believe that they can introduce networking products faster and avoid the threat of costly lawsuits and disputes among network suppliers. Examples are the major fights that have involved Qualcomm, Inc., which has long been embroiled in a royalty dispute with Nokia, and has lost a series of court cases to another rival, Broadcom Corp. This new IP royalty agreement is a major step towards establishing more predictable and transparent licensing costs, leading to faster adoption of new technologies in the wireless industry.
ONCE MORE MARILYN MONROE CAUSES TURMOIL
Even in death Marilyn Monroe can still turn heads. A recent decision by a California court apparently has opened the door for multiple photographers to license out photographs of Marilyn Monroe – and for virtually anyone get into the business of marketing and selling merchandise with her picture on it. This obviously will have a broader effect on licensing deceased celebrities. This case turned on the courts ruling that Ms. Monroe was a New York resident when she died, and was only a transient living in California. While California has very protective laws concerning celebrities’ post-mortem rights of publicity, New York has no such laws. Therefore, being a New York resident and a deceased celebrity with no post-mortem rights of publicity, anyone can publish, sell and license photographs of Marilyn Monroe that they own themselves.
Until the New York laws change – or more likely, until a federal law is enacted dealing with post-mortem rights of publicity, this case has certainly thrown the celebrity licensing business into turmoil.
CONSTITUTIONAL FLAW MAY THREATEN PAST 8 YEARS OF PATENT BOARD RULINGS
The USPTO may have a major problem on its hands: the possible unconstitutional appointment of nearly two thirds of the patent appeals judges. If such a constitutional flaw is in fact legitimate it would call into question the hundreds of decisions worth billions of dollars handed down in patent cases since the year 2000. Note, John Duffy of George Washington University Law School, who is a highly respected IP scholar, identified the possible flaw. If valid, it could also affect the appointment of nearly half of the PTO’s trademark appeals judges.
The possible flaw is currently being challenged in a petition that raised the issue in the US Supreme Court by a company called TransLogic Technology. Its patent was rejected by a three-judge board of patent appeals and interferences panel. The decision was subsequently affirmed by the US Court of Appeals. The company’s position contends that one of the three panel judges on the case was named to the board in violation of the Constitution’s appointment clause. What it boils down to is that the director of the PTO has been appointing patent and trademark judges to the BPAI and the TTAB. BPAI judges do have significant authority, says Mr. Duffy and other scholars, and it qualifies inferior officers under the Constitution. The Constitution clause requires that inferior officers be appointed either by the President, the Courts of law, or the Heads of Departments – clearly the PTO director is not the head of a department. Given the large number of judges appointed after March 2000, when the head of PTO began appointing judges, the odds are that the majority of appeals have been heard by at least one invalidly appointed judge sitting on the panel. On the other hand, the new patent reform law would address this. However, pending the patent reform legislation, which appears stalled in the Senate, but which would return the appointment power to the head of the Department of Commerce for BPAI judges. In summary, the patent reform act which is currently stalled has another major issue that could be resolved by it – namely the legitimatization of BPAI and trademark judges.
INTANGIBLE ASSET TRIAGE AND VALUATION
Accurate valuation of intellectual property and intangible assets is increasingly critical for at least three reasons: First, financial reporting and accounting regulations require accurate valuation. Second, corporate government regulations stemming from the Sarbanes-Oxley Act require accurate valuation. Third, the financial community increasingly demands that companies, both private and public, value their intangible assets to as precise a degree as possible—although the degree of precision obviously depends on the type of asset and the marketplace that can be established for that asset.
Prior to the actual valuation process however, it is important to engage in the process of triage and that triage process should be a follow on to the identification and subsequent grouping of similar intangible assets into various bundles. Triage is a word based in Latin, but used primarily as a French word. It means, simply, the division of a group of things, assets or people into three parts. Most commonly, triage is a term used in a military/battle field environment to describe the process that surgeons go through in determining into which group to put a wounded combatant. For example, group A are those that are wounded but will survive with medical treatment group B are those that are wounded but may not survive with medical treatment and group C are those seriously wounded who will probably not survive even with medical treatment. In valuing intangible assets, the triage process is much the same and can be divided into a group A, consisting of intangible assets with significant value that can be both quantified and monetized if necessary. The second, group B, are those assets that may have significant value but are difficult to monetize. Group C are those assets that have little or no value.
In our view, this triage process is a necessary step that follows the identification of bundling of assets, and precedes the actual valuation of those assets. When time or resources are limited, the triage is even more important—as the limited time and resources available should typically be devoted to those assets in group A and to as many of the assets in group B as possible within the constraints of the environment. Oftentimes, given sufficient time and resources, the referral to a triage process can actually result in grouping of intangible assets into as many as five groups (see chapter 4 of the Intangible Assets Handbook published by the American Bar Association 2007).
CELBRITIES AND RIGHTS OF PUBLICITY: THE MARLON BRANDO ESTATE
Over the past few years, the trademark and copyright team here has worked in a number of celebrity valuation and litigation projects. Among them have been individuals as diverse as Jenny Craig, The Estate of Dr. Seuss, Yogi Berra, and most recently the Marlon Brando Estate.
Marlon Brando died as he lived – in a most interesting way with a series of interesting relationships. The executors of the estate wrestled for several weeks with the value of the post-death publicity rights for Marlon Brando. While Mr. Brando was an iconic actor, his personal and political life was not always widely popular. In addition, his acting was episodic at best, with flashes of brilliance in some projects and lack of effort in others. As a consequence, the valuation of his post-death publicity rights was quite a challenge because we had to take into account all of these factors. We worked with The Law Offices of Charles Larson over a period of several weeks to identify all of the strengths and potential value elements of The Brando Estate, as well as the issues that would mitigate future ability to earn income or value from those assets. We have recently concluded the assignment and look forward to continuing our work with celebrities and their estates.
WILL THE NEW PATENT LAW MAKE HIGH TECH INTO LOW TECH?
The Patent Reform Act of 2007 has been passed by the House of Representatives, and now it will face a long battle in the Senate in 2008—particularly in view of all the other issues facing the Senate, ranging from the upcoming elections to the war in Iraq. The bill, as currently constructed, is a landmark shift in the balance of power between patent holders and infringers, and between large high technology companies and the traditional American entrepreneur/inventor.
For large technology companies like Microsoft, Apple and Intel, the system of patents in the United States (notably different from most other industrialized countries in Europe and Asia) is an increasingly difficult field for them to negotiate through. In their view, they find themselves at the mercy of patent trolls and small patent holders and speculators, who buy hundreds of thousands of currently unused patents and use them to attack large technology companies. What is most frightening to these large technology companies is the monster sized infringement lawsuits, such as the $600 million settlement in the Blackberry case, or the $1.5 billion award that Lucent won against Gateway and Microsoft—subsequently overturned, but the case newly reopened.
On the other hand, if we drastically change the country’s patent laws, then we run the risk of disincentivizing the small inventor, the entrepreneur, the free thinker. These basement workshop inventors often have truly unique ideas that can change the world. People like the Segway designer Dean Kaman, or the founders of Apple, immediately come to mind. So the question is, if the new law is passed and we limit the incentive of individual inventors standing at a basement workshop, will there still be enough innovation in corporate labs across our country? From that point of view, the danger of the new patent law as passed by the House of Representatives is that it would potentially enable our country’s larger dominant high technology companies to manage the pace and direction of innovation and change—this could be very good, or, it could lead to and perpetuation of old ideas already imbedded in our very large technology companies.
How does all this impact the value of each company’s patent portfolio? The new law may have great benefit for large companies, while reducing the value of smaller companies
KEY LITIGATION FOCUSES ON DESIGN PATENTS
Egyptian Goddess Inc. v, Swisa Inc. is a case that involves the design of a product and design patent infringement. While the case involves a relatively minor product, a four-sided nail buffer, it has implications as far reaching as the automobile industry. The question is whether a design patent needs to have a “point of novelty”. The Federal Circuit has ruled once, but the case is going back for further review.
What is at risk here is that design patents seem to be held to different standards than utility patents. As a consequence, design patent law has become complex and oftentimes different from what the patent statute calls for. This particular case could clarify where design patents fall into the range of patent protected subject matter, and hopefully offer new clarity in defining design patent infringement.
The importance of the cases is found in a recent ruling that Ford Motor Company was able to obtain via the International Trade Commission. In June of 2007, the ITC enforced a ban on Taiwanese and Chinese manufactures from importing imitative grills, fenders and other parts for use on Ford trucks. In essence, this has enabled Ford Motor Company to force independent auto repair companies that fix Ford pick-up trucks to only use Ford parts, and not imitative design third-party parts. Clearly, design patents affect the billion dollar automobile industry just as much as they affect the million dollar nail buffer industry.
The impact of these issues is also being felt in other design areas. There is increasing litigation over designs and designer trademarks, ranging from the apparel industry to automotive parts, purses and handbags.
CONSOR EXPANDS ITS SOFTWARE VALUATION SERVICES
CONSOR expanded its software valuation service to assist companies that acquire software adhere to new compliance regulations. Whether a bankruptcy, re-organization, merger and/or acquisition, CONSOR evaluates a broad range of intellectual property and intangible assets in the form of software by addressing three critical questions: Which of these software assets have value? Which of these software assets could be monetized? And, how much might that value be?
Considering the most recent government and Federal Accounting Standards Board (FASB) regulations, CONSOR’s newest service helps clients accurately identify, analyze, document, and value software within an enterprise. With both the government and financial world pushing for more transparency into corporations’ intellectual property assets, CONSOR’s expanded expert service keeps clients up-to-date with the latest purchase price allocation requirements by providing accurate software analysis and valuation.
Properly managing software has never been more important to corporate well-being. Besides constant threats of patent infringement, license violations and counterfeiting, software owners must also contend with regulators’ increased emphasis on software asset governance. The accurate reporting of all material risks to shareholders, along with the ability to appraise and keep track of acquired software assets can mean the difference between weathering a conflict with regulators and having regulatory investigations leading to potential shareholder litigation. Click here for more information.
COPYRIGHT ROYALTY BOARD ADOPTS CONSOR ROYALTY OPINIONS
The Copyright Board has just issued its final ruling in the determination of rates for Satellite Digital Radio Services for the six-year license that will expire in 2012. The three-judge panel heard expert testimony from the recording industry, represented by the SoundExchange clearinghouse, and satellite radio companies XM and Sirius.
The recording industry put forward the testimony of a wide array of academic experts and industry insiders in support of their position for fees of up to 23% of subscription revenue. In opposition, the satellite radio services offered a similarly wide array of expert testimony, including CONSOR. As a result of the testimony, the copyright board agreed with CONSOR’s expert opinion that, in setting the appropriate fees for music in relation to non-music content, the board should consider the brand value and other intangible asset characteristics of non-music content. Consequently, after carefully considering all the evidence in the case, the Copyright Board determined the copyright fees for music content at between 6% and 8%.
The difference in fees represents savings for CONSOR’s clients SIRIUS and XM of billions of dollars in royalties over the term of the license. During the assignment, CONSOR analyzed and valued the intangible brand asset components of several important non-music programs offered by the satellite radio providers, including Howard Stern, Martha Stewart, NASCAR, Oprah and Friends, the NFL, and Major League Baseball. Click here for the final rule and order.
NEW BOOK FROM THE ABA FOCUSES ON VALUATION, DAMAGES AND EXPERT WITNESSES
The newest book in the ABA series on intellectual property, from the authors at CONSOR, is aptly entitled Valuation, Damages and Expert Witnesses: Intellectual Property and Intangible Assets Disputes. As the title states, the book focuses on the all important damage issues that arise in every case – on the techniques and methodologies for establishing the value of those damages. As well, the book provides serious and substantial input on how to identify and select appropriate experts in litigation involving intangible assets of all types. The book will be published in 2008 by the American Bar Association. Please check back for book updates.CONSOR SELLS TOWER RECORDS INTELLECTUAL PROPERTY FOR $4.2M
CONSOR undetook an extensive marketing and sales initiative for the company’s intangible assets including the US and International trademark registrations, international franchise agreements, the e-commerce operation www.tower.com, and other intangible assets.
Please contact either Gabe Fried (email me) or Daryl Martin (email me) to receive additional information. Click here for additional information.
MAXIMIZING VALUE FROM INTANGIBLE ASSETS PUBLISHED MARCH 2007
Mr. Anson’s book, The Intangible Assets Handbook: Maximizing Value from Intangible Assets, was published by the American Bar Association in March 2007. This is the second in a 5-part series (View Table of Contents). You can order through the ABA website and read preliminary reviews by Russell Parr and Jim Catty (product code: 5070556).
DWIGHT OLSON JOINS CONSOR BOARD OF DIRECTORS
Dwight C. Olson is currently Executive Vice President at TAEUS International Corporation. He was the founder of Data Securities International (DSI), now a subsidiary of Iron Mountain Inc., the world’s largest records management company. Mr. Olson has over 40 years of experience in the computer industry. He began his career in the research and development of supercomputers, parallel processing systems and related application architectures in the 1960s.
THE SILENT CRISIS IN THE LICENSING INDUSTRY
If one attends a trademark or brand licensing show anywhere in the world today, everyone is, on the surface at least, upbeat and positive about the industry. However, if one probes just below the surface, we find there are alarming trends and changes in basic conditions and constraints under which licensors and licensees must work. These changing trends and conditions spell out a silent crises that is underway in the North American licensing industry—a crises that is spilling over into Europe and emerging markets. On the surface, all is well, with an increasing number of licensing shows and increasing number of exhibitors, and visitors, etc. However, there is little focus on the more troubling issues facing the business, and rarely does anyone dare to treat all of the major issues. These changing trends threaten the long-term stability of the licensing business. Read more
INTELLECTUAL PROPERTY VALUATION MADE CLEAR AND SIMPLE
Fundamentals of Intellectual Property Valuation: A Primer for Identifying and Determining Value by Weston Anson
Published by the American Bar Association
The first handbook for all legal and business professionals on valuing intellectual property. A state of the art reference on the practical and business issues of valuing trademarks, patents, copyrights, software, and other intangibles – each is covered in a short, thorough, standalone chapter. Individual chapters cover valuation for FASB 141 / 142 / 144, tax and donations, in bankruptcy, merger and acquisition context and more.
Read Mr. David Peress’ review which appeared in the June 2005 edition of the ABI Journal, published by the American Bankruptcy Institute (ABI).
To purchase, contact the American Bar Association at (800) 285-2221 (product code 5370143) or visit the ABA Website to order online.
SPEAKING OPPORTUNITIES
CONSOR officers and principals are active on the speaking circuit. The principals of CONSOR have presented to a wide range of organizations on the topics of intellectual property, licensing/leveraging, valuation, celebrity rights, royalty rates, monetization and economic damages. For more information on speaking opportunities, please contact Doug Bania at 858-454-9091x216.
Copyright © 1996-2008 CONSOR and/or its affiliate companies. All rights reserved.
CONSOR® is dedicated to helping clients establish and build the value of their intellectual property and intangible asset base, while minimizing risk and uncertainty.
CONSOR Intellectual Asset Management
7342 Girard Avenue, Suite 8 La Jolla, CA 92037 | 800.454.9091 | www.consor.com
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