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From Ideas to Assets: Investing Wisely in Intellectual Property

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Many of the articles in this collection haven't withstood the test of time -- a mere three years.

The reason is an unrealistic view of patents and other IP as financial assets, without any regard for where their value comes from. In industry, for example, a naked patent license (i.e., without accopmpanying know-how) usually only has defensive value against a possble lawsuit. It has little enabling value for someone who wants to learn how to practice the invention.

However, this bit of reality doesn't prevent some authors from fantasizing about stock exchange-style markets for IP. These haven't materialized. Similarly, most (perhaps all) of the Internet-based IP exchanges that sprung up during the dot-com era have failed to survive to the present, at least under their original business model.

Another area that's way beyond reality is the discussion of securitization of IP assets. The original deal of this type -- the famous "Bowie Bonds" deal of 1997 -- was downgraded to junk status in late 2004. In 1997 who knew about Internet file-sharing?

Nonetheless, in 2002 one of the authors in this book claimed that there would be $500 BILLION of these securitization deals by 2005. (You might need to look on the Internet for this, I don't think it's in the book: search for Licent Capital, and you'll find this prediction quoted in an article by Deloitte & Touche, among other places.)

The actual market in late 2004, was around 0.1% of the prediction -- and actually less, since the market was comprised mainly of purchases (i.e. assignments) of royalty streams, not securitization. Moreover, that activity was mainly in the biopharma area. If you think this is less risky than David Bowie royalties, just recall the withdrawal of Vioxx and certain other painkillers from the market earlier in 2005.

Finally, if you do buy this book, just try this experiment (especially regarding Part 4, the most financially-oriented section): try finding the homepages of the various authors' companies. Good luck!

"From Ideas to Assets" remains the "go-to" book for intellectual property executives & businesses. It is essential reading for inventors, Boards of Directors, senior & middle level executives, investors, analysts, bankers, R&D departments, CTO's, IP attorneys, licensing consultants -- anyone whose mission is to derive shareholder, business or personal value from intellectual.

"From Ideas to Assets" provides a comprehensive overview of precisely what intellectual assets are, how they work and what you need to know about them to succeed in today's competitive business environment. This is especially relevant today, 2006, when business economics if not corporate survival demands that institutions have access to critical information about their intellectual property along with the know-how and means to exploit it. Corporate governance mandates that Boards and senior corporate management fully understand their company's intellectual property, its value and positioning ... or suffer the consequences.

This book remains an informative, intelligent, accessible and easy-to-follow resource and roadmap for understanding, evaluating and maximizing returns on patents and other intellectual assets. It has been my experience that the biggest stumbling block to successful exploitation of intellectual assets has been the very absence of a clear-cut understanding of what they are, how to exploit them, and why intellectual assets must be an integral part of the institution's overall strategy. "From Ideas to Assets" is a must-read book to bring about this understanding.

This "easy to read" book was especially helpful for me as an MBA candidate to appreciate the growing importance of IP in today's business world. It is one of the best books for managers and investors to acquaint themselves with the business of IP and get a head start on something that is critical for business success today. "From Ideas to Assets" is a book that describes Intellectual Property assets from a perspective that is usually ignored by most companies and individuals today. It enlightens the reader about the importance of IP as Business assets that can be leveraged by companies to gain sustainable competitive advantage and increase shareholder wealth.

This book contains some of the most useful and cutting edge thinking about intellectual property. The individual chapters are written by experts with deep knowledge. The multi-discplinary perspectives on intellectual property give this volume a breadth of scope that is unique. For IP professionals this book is an extraordinary source of valuable insights and a spark for creativity.

IP and intangible assets is significant part of economy.
The book provides a overall perspective to various aspects
in IP. More relevant to Financial, Business and Corporate
community. Has covered topics with enough details in 4 areas:
Identify, Business, Measure and Finance.
A good reference book on my shelf.

Wow. This book should be on the bookshelf of every CEO, CFO, chief technology officer and general counsel in the country. It seems everyone talks about intellectual property as a business asset these days--but I'll bet most haven't a clue as to what the concept really means. From Ideas To Assets is the first book I've seen that really answers the question, offer everything American business needs to know about identifying, protecting and profiting from patents, trademarks, copyrights and other forms of intellectual property. The array of experts that editor Bruce Berman put together is impressive. The book is comprehensive yet highly readable, offering everything from the basics of patents to the use of IP in mergers and other complex financial transactions. I've already recommended the book to several clients, and I'm sure my copy will be thumbed-through on a regular basis for some time to come!

Everyone talks about intellectual property, Bruce Berman is one the few who really understands how ideas convert to business. "From Ideas to Assets" continues the thoughtful exposition of "Hidden Value", with particularly provocative reference to stock market valuation behaviors.

Berman's latest is not a "how to" cookbook, its a stimulating "how about" many of the critical issues confronting industry and science through the prism of IP practice and law. Together with his writing colleagues, Berman offers a practical perspective consistent with commercial reality.

This is, in my experience, the single most comprehensive volume to cover intellectual property from legal, economic and financial standpoints. As a practicioner in finance, I have had exposure to the growing inportance of intellectual property assets for corporations, for individuals and for national economies. This volume provides an excellent introduction for lawyers, corporate management, financiers and the general public

I happen to be a contributor to this book, so I might be biased. But "From Ideas to Assets" is among the more useful books on intellectual property that I have encountered. This is quite an impressive tome - bigger than I expected. It will be a great desk reference for business folks, useful for quick access into the complete spectrum of IP topics. I already sent a copy to the internal public relations person for our R&D Laboratories to give him an idea of how our company's patent activities fit into the grand scheme of things.

We are in a new frontier on Wall Street. Great companies are no longer made on their ability to gather assets. They are made on their ability to gather knowledge or create knowledge. They do that through IP assets, such as patents, copyrights and trademarks. The problem is that those most affected by them are barely aware of what they are or how they can profit from them.

From Ideas to Assets is a well-timed book for anyone whose business it is to stay on top of business. I can attest personally, as an investor relations consultant with more than 20 years experience working with companies of all types and sizes, the need for investors and managers to understand the value of patents, copyrights, trademarks and other IP has never been more necessary or compelling.

The advent of SEC's Regulation FD (Fair Disclosure) in 2000 has put added pressure on companies to communicate candidly and consistently to Wall Street, as well as its shareholders. Even more recently, the Financial Accounting Standards Board has adopted new rules regarding the treatment of intangibles assets, such as certain patents, trademarks and copyrights, involving business mergers and acquisitions.

Berman's book gives thoughtful civilians, as well as IP pros, the courage and inspiration to confront the often-unseen value proposition that materializes out of the potent confluence of innovation, exclusive rights and product demand. It's a veritable tool kit for those who need to stay attuned to the "hidden" value that affects the market price of their companies' assets and shares.