Making Innovation Pay People Who Turn IP into Shareholder Value Edited by Bruce Berman John Wiley & Sons, Inc Making Innovation Pay People Who Turn IP into Shareholder Value Making Innovation Pay People Who Turn IP into Shareholder Value Edited by Bruce Berman John Wiley & Sons, Inc This book is printed on acid-free paper ⅜ ϱ Copyright © 2006 by Bruce Berman All rights reserved Published by John Wiley & Sons, Inc., Hoboken, New Jersey Published simultaneously in Canada No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 750-4470, or 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incidental, consequential, or other damages For general information on our other products and services, or technical support, please contact our Customer Care Department within the United States at 800-762-2974, from outside the United States at 317-572-3993, or fax 317-572-4002 Wiley also publishes its books in a variety of electronic formats Some content that appears in print may not be available in electronic books For more information about Wiley products, visit our Web site at http://www.wiley.com Library of Congress Cataloging-in-Publication Data Making innovation pay : people who turn IP into shareholder value / edited by Bruce Berman p cm Includes index ISBN-13: 978-0-471-73337-9 (cloth : alk paper) ISBN-10: 0-471-73337-7 (cloth : alk paper) Technological innovations — Economic aspects Patent licenses I Berman, Bruce M HC79.T4M32 2006 658.4'063— dc22 2005031934 Printed in the United States of America 10 For spirited inventors, investors, and strategists whose imagination and perseverance expand the horizon About the Author B ruce Berman is president of Brody Berman Associates, Inc in New York, a management consulting and communications f irm that works closely with innovation-based businesses, investors, and assets The f irm’s areas of industry focus include information technology, science, law, and f inance Bruce conceived and edited From Ideas to Assets: Investing Wisely in Intellectual Property ( John Wiley & Sons, 2002), a widely acclaimed exploration of the business of IP that has been translated into Japanese He has implemented public relations, investor relations, marketing, and business development programs on behalf of more than 200 businesses, and has counseled many executives, investors, and attorneys Bruce is a member of the editorial advisory boards of Intellectual Asset Management and Patent Strategy & Management His column, IP Investor, appears regularly in London-based IAM Articles, chapters, and reviews written by him have appeared in many periodicals and books, including The Book of Investing Rules (Financial Times, Prentice-Hall, 2003), which The Motley Fool called one of the ten most useful investment books He has been cited as a resource in many business, technology, and IP publications A previous book which he also edited and contributed to, Hidden Value: Profiting from the Intellectual Property Economy (Euromoney Institutional Investor), was published in London in 1999 vii viii about the author A frequent speaker, Bruce has guest lectured at Columbia University School of Business and either chaired conferences or moderated panels for The Wall Street Transcript IP conference on ROI, the Intellectual Property Owners’Association “patent trolls” conference in Washington, D.C., and the 2005 Center for Intellectual Property Studies conference in Gothenberg, Sweden Bruce received his Master’s degree in f ilm scholarship from Columbia University, where he taught for three years and also completed course and comprehensive requirements for his Ph.D He received his Bachelor of Arts degree with honors in English literature and journalism from The City College of New York Bruce lives with his wife and daughter in Westchester County, NY .. .Making Innovation Pay People Who Turn IP into Shareholder Value Edited by Bruce Berman John Wiley & Sons, Inc Making Innovation Pay People Who Turn IP into Shareholder Value Making Innovation. .. Value Making Innovation Pay People Who Turn IP into Shareholder Value Edited by Bruce Berman John Wiley & Sons, Inc This book is printed on acid-free paper ⅜ ϱ Copyright © 2006 by Bruce Berman... products, visit our Web site at http://www .wiley. com Library of Congress Cataloging-in-Publication Data Making innovation pay : people who turn IP into shareholder value / edited by Bruce Berman p cm