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DC Chapter Upcoming Event
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The LES-Greater Washington, DC chapter is pleased to present the following
luncheon presentation:
Date:
March 7, 2007
Time:
12:00 - 1:30 p.m.
Speakers:
Richard Baker, Director of Intellectual Property Licensing, 3Com
Corporation
John Mallonee, Counsel for Ocean Tomo
Topic:
IP Auctions - A patent seller's perspective
In sixty seconds, it was over. After months of preparation, discussions,
study, analysis, and thought, the patent was in the limelight for only a minute. But
in those few seconds, the excitement was absolutely intense. The bidding
began at $650 thousand, then $700, then $750 and on up to $900, $950. The auctioneer
looked around the room, asked for a $1 million bid, waited, searched through
the silence, and dropped the gavel. The patent was sold, and the crowd
cheered.
Patent auctions are taking the intellectual property field by storm, as Ocean
Tomo has started hosting semi-annual patent auctions. At each auction,
there have been many successes and even more failures. Patent lots were
sold for a pittance. Others never received a bid. And yet 3Com
has managed to sell a patent at each auction, at a combined price of $1.6 Million. How
did it succeed where others have failed?
This presentation will discuss auctioning patents in general, how auctions
work and what the rules are, and specifically will cover the preparation and
steps 3Com undertakes to prepare a lot for sale at one of Ocean Tomo's Patent
Auctions. During the discussion, Richard Baker, 3Com's of Intellectual
Property Licensing and John Mallonee, counsel for Ocean Tomo, will cover how
to select a patent, what types of diligence to expect, and how to prepare for
it. Richard will discuss the selling techniques 3Com used to increase
the company's chances of success, and John will elaborate on Ocean Tomo and
their capabilities.
Speaker Bios:
Richard A. Baker, Jr. joined 3Com as Director of Intellectual Property Licensing
in January of 2005. Richard is responsible for the licensing program of
over 1400 U.S. patents - one of the most impressive networking technology patent
holdings in the world. Since joining 3Com, he has been involved in a number
of licensing projects and in the management of existing licenses for 3Com. In
addition, he led a project to identify technologies that 3Com no longer
uses in the patent portfolio, and successfully sold patents at the first two
Ocean Tomo Patent Auctions, generating the second highest patent sale in each
auction.
Prior to joining 3Com, Richard was the Director of Intellectual Property
at Schneider Automation. At Schneider Automation he developed the company's
intellectual property program, including the creation of IP strategies, the
organization of a portfolio of patents, and the authoring of a number of patent
disclosures. Baker also designed and ran a successful patent auction. While
at Schneider, he was issued thirteen patents in his name and has approximately
12 patents pending in the web, embedded Ethernet, and business method areas
(including a patent on auctioning intellectual property).
Richard's graduate studies include Intellectual Property at Franklin Pierce
Law Center and Computer Science at Harvard University. He holds a Bachelors
of Science in Computer Science and English as a dual major at the University
of New Hampshire, where he also minored in Electrical Engineering.
John Mallonee is an associate in the expert services division of Ocean Tomo,
LLC in the Washington, DC Metro area office. John provides services
including calculations of lost profits, loss or diminution of asset value
and other financial analyses related to liability and damages. Prior
to joining Ocean Tomo he spent five years in the private practice of law,
primarily focusing on business litigation.
John received an M.B.A. degree from Oxford University (Balliol),
a J.D. from the University of North Carolina, and an A.B. in philosophy (cum
laude) from Franklin and Marshall College.
Ocean Tomo Auctions, the auctions arm of Ocean Tomo, LLC (www.OceanTomo.com)
-- the country's leading Intellectual Capital
Merchant Banc® firm -- has received global
recognition as the leader in the live auctioning of intellectual property
assets for some of the world's largest and
most established companies. Hundreds of key decision makers in the intellectual
property and financial communities attend and participate in the auctions
and related workshops, including C-level executives, Fortune 500® IP
professionals, investors, small to mid-size companies, inventors and media
professionals. Ocean Tomo Auctions has been featured on CNBC, Bloomberg TV,
The Wall Street Journal, Forbes, Barron's,
Red Herring, BusinessWeek, and Reuters. The live auctions are held in the
spring and fall in the U.S. and in the summer in Europe.
Join us on March 7th and learn more agout this new approach and how
to successfully sell a patent at auction. And you could be part
of the excitement as the gavel drops on your lot!
Location:
Nixon Peabody LLP
Suite 900
401 9th Street, N.W.
Washington, D.C. 20004-2128
Office: 202-585-8250
Cost and Registration:
$20 for LES members
$25 for non-members
For more information about these programs and participating in future programs,
please contact the Greater Washington, DC Chapter Chair, Raymond Van Dyke at vandyke@acm.org
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