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Hanover to Monetize Underutilized Patents by Converting Them Into Royalty Generating Assets
Opportunity to Increase Shareholder Value Through Maximizing IP Utilization Rates
By: Marketwired .
Feb. 6, 2013 06:00 AM
LOS ANGELES, CA -- (Marketwire) -- 02/06/13 -- Hanover Portfolio Acquisitions (OTCQB: HVPA), an intellectual property investment and monetization firm, announced today that it is actively in talks with a number of intellectual property (IP) owners to maximize the value of their patents and patent-protected technologies through licensing, commercialization and/or acquisition.
"The reality in IP today is that a vast majority of patent owners are not getting paid for their assets. Hanover is set to change that to the benefit of those patent holders and our shareholders," stated Hanover Chairman and CEO, Alan Collier. "Furthermore, patent owners who are collecting royalties or generating revenues based upon commercialized products and services are not maximizing the value of their intellectual property assets. Hanover brings its IP, commercialization, and business funding expertise to the fore to partner with patent holders and monetize assets."
According to data published on the World Intellectual Property Organization (WIPO) site, only 3% of patents become royalty-generating assets. Royalties are under-collected by 25% or more. According to Intellectual Ventures, large corporations are most effectively monetizing assets, while small companies, individual inventors, universities and R&D labs are not. Hanover seeks to bridge the gap between patent ownership and patent monetization for this latter group that has not traditionally maximized its assets.
While 60% of patents are owned by small companies, individual inventors, universities and R&D labs, these groups are collectively only receiving 1% of the revenues generated through IP. Large corporations, which own 40% of patents, are receiving 99% of the revenues generated through IP.
"Based upon these numbers, the opportunity for Hanover is very clear. These dormant patents represent a significant reservoir of technologies that may be commercialized by other parties either through licensing or the sale of these patents," concluded Collier.
In addition to being in talks with several patent owners regarding new IP licensing and acquisition deals, Hanover currently has three technology licensing, distribution and commercialization agreements in place for:
About Hanover Portfolio Acquisitions
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
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