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Virginia Tech E-Club: John Geikler on Intellectual Property
 

Virginia Tech E-Club: John Geikler on Intellectual Property

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  • IP management–some generic background re IP, indicate broader applications but focus on licensing of VT technology
  • Returned to my alma mater after 29 years – in between: Westinghouse – International licensing & tech transfer – defense, nuclear & industrial systems Imaging & Sensing (W spin-off) – licensing, strategic & new product development & M&A Strategic Alternatives (start-up) - Tech transfer & other consulting for semiconductor consortium funding $60 M/yr university research VNI -Germany & UK as Manager for HPC software firm RTI – commercialization & tech scouting for NASA, intel community, university & corporate clients
  • From weaker to stronger
  • Example: recipe for Coca Cola Good to protect what can’t be reverse engineered
  • Example: Coca Cola scripted name Often linked with branding
  • Example: Coca Cola Polar Bear ad
  • Types Utility – Example: Coca Cola Bottle Sorter Design – Example: Coca Cola Bottle Design Cost of a patent over its life is ~ $30-$50k per country Strong but not long – protect what can be reverse engineered
  • Questions: How do you decide when to patent vs. keep as trade secret? Why protect Coke recipe with a trade secret? Why trademarks and design patents on Coca Cola bottle?
  • Societal benefit may sound corny but is a key cornerstone to commercialization decisions – e.g. releasing software as open source IP rights can provide the incentive to commercialize that allows a product/service to come to market without protection, good ideas may languish and never get commercialized Bayh-Dole – universities can own the IP from Federal research
  • Based on research revenue, VTIP has comparable licensing revenue Based on # disclosures, VTIP has ½ the staff & ¼ patent budget of other universities VTIP licensing professionals have significant experience
  • Patentability/Protectability(Can We?) – Most university licensing is strongly tied to patents – not so much other IP also software copyright, but much weaker Commercial potential (Should We?) Answering these questions is key to VTIP decision on moving forward with a technology VTIP is intended to generate revenue greater than its costs
  • Quick summary of VTIP’s other responsibilities - along with managing IP protection, VTIP conducts market research including discussions with experts in the target “value chain” develops and implements marketing campaigns facilitate interested companies’ discussions with the inventor & evaluation of the technology negotiates license agreements manages the distribution of royalty income. Realistically: From time we receive invention disclosure until product sales that generate royalties between 5-10 years, if ever. Most university tech transfer has a single technology that generates over 50% of their revenue
  • Many other factors
  • Many other factors
  • Many ways to put value on a technology 25% of operating margin is relatively well established fair value for inventor Comparables deals are very strong A few principles help guide negotiations

Virginia Tech E-Club: John Geikler on Intellectual Property Virginia Tech E-Club: John Geikler on Intellectual Property Presentation Transcript

  • IP 101 and Technology Licensing VT E-Club October 11, 2010 Virginia Tech Intellectual Properties, Inc.
  • Overview
    • Background
    • IP types
    • VTIP Licensing Process
    • Example Technologies
    IP 101/Technology Licensing
  • Geikler Background
    • 30 years experience
      • Westinghouse, NASA, intelligence community, industry, universities, research consortia
    • Joined VTIP in 2008
      • Manage portfolio of 200+ physical sciences technologies
    • IP management
      • Technology in- & out-licensing, product management, research roadmaps, scouting, mergers & acquisitions
    IP Management
  • IP Types
    • Trade Secrets
    • Trademarks
    • Copyrights
    • Patents
    IP Management
  • Trade Secrets
    • Formula, pattern, process, method or know-how that provides competitive advantage
    • Term: perpetual, as long as kept secret
    • No public disclosure
      • Can disclose under confidentiality
    • Cost: no registration but cost to maintain secret
    IP Types
  • Trademarks
    • Non-functional word, logo, symbol or design that distinguishes a product
    • Protection from copying or confusingly similar
    • Term: perpetual if worked, policed, & defended
    • Registration (by jurisdiction) recommended
    • Quality implications
    • Cost: Inexpensive to register – but multiple countries and maintain, work & defend
    IP Types
  • Copyrights
    • Protects works of authorship from copying
      • Expression, not idea
    • Arises at creation in a tangible medium
      • Registration recommended
    • Term: ~ author's lifespan plus 70 years
    • Need not fully divulge – e.g. software
    IP Types
  • Patents
    • Protects idea by excluding others from making, using, selling
    • 20 Years from filing (14 for design)
    • Must provide enabling description
    • First to invent vs. file
    • Expensive to register & maintain
    IP Types
  • Comparisons of IP Types
    • What is protected
    • Strength of protection
    • Term
    • Territory
    • Registration
    • Maintenance
    • Other costs
    • Enabling competition
    IP Types
  • VTIP Mission
    • Technologies become products that benefit society
    • Additional benefits
      • Sponsored research
      • Faculty start-ups
      • Complementary researchers
    • VT and inventors reap financial benefits
        • Inventors - 50%
        • Department - 10%
    Licensing
  • VTIP FY10
    • $ 3.3 M Licensing Income
    • 44 Licenses/Options
    • 148 Invention Disclosures
    • Patents
      • 96 provisionals
      • 65 worldwide applications
      • 37 issued
    • 4 Associates
    Background
  • Patentability & Commercial Potential
    • Patentability
      • Can an invention be patented?
      • How strong a patent?
    • Commercial Potential
      • Is there a market?
      • Is there a commercial partner?
    VTIP Decision Criteria
  • Licensing
    • Market
    • Negotiate
    • Administer
    VTIP Commercialization Process
  • Commercial Potential
    • Market size
    • Industry structure/Value chain
    • Barriers
    • Competition
    • Partner Evaluation
    Commercial Assessment
  • Market Research/Marketing
    • Identify value chain
    • Interview experts
    • Develop marketing strategy
    • Making Contact
    • Evaluation
    Marketing
  • License Valuation
    • Industry norms
      • http://www.njsbdc.com/SciTech/scitech120804weiler.ppt#445,42,RoyaltySource® Transaction Analysis
      • Income modeling
      • 25% Rule
    • Comparables
      • www.royaltysource.com
    • Establish ranges to support negotiating strategy
    • Principles
      • Partnering - shared risk & reward
      • Recognize risks and contributions on both sides
      • Know walk-away
    Negotiation
  • Example Technologies
    • VTIP Available Technologies
      • http://www.vtip.org/availableTech/
    • Energy/Nano - e-ZLM
      • http:// www.vtip.org/availableTech/technology.php?id=282293
    • Software/Medical – Ultrasound Cardiac Diagnostic
      • http:// www.vtip.org/availableTech/technology.php?id=261231
    VTIP Portfolio
  • Questions?
    • John Geikler
    • [email_address]
    • (540) 443-9228
    • www.vtip.org
    IP 101