Seattle, WA, March 26, 2015 --(PR.com
)-- Tangible IP, LLC, an international patent brokerage and Intellectual Property advisory firm headquartered in Seattle, with offices in San Francisco and Montreal, announced today the sale of a patent portfolio pertaining to relational database technology belonging to TMLN Royalty, Inc. (“TMLN”), formerly TimeLine. The transaction closed in January and the specifics of the agreement and the identity of the buyer were not disclosed but it was reportedly in the seven figures.
One particular asset in the portfolio had been asserted in the early 2000, but the portfolio was no longer contributing any revenues to its owner and most interested parties were already licensed. After being retained by the owner, Tangible IP analyzed the assets in depts., found several additional potential licensees and made the case to prospective buyers that there was still a lot of mileage left in the assets. As a result, the portfolio generated multiple offers and the seller was very happy with the final transaction, especially considering the current market conditions.
"When we first contacted Tangible IP, we owned these patents that had been quite foundational 10+ years ago, which we had broadly licensed to the industry at that time. Recently, another firm had tried to monetize them with very limited success. Now they were mostly collecting dust and costing us money to maintain," said Charlie Osenbaugh, CEO of TMLN. “Fortunately, Louis Carbonneau and his team were able to build a compelling story as to the remaining licensing potential of the portfolio, which generated significant interest and a great exit for us. We can now have closure and move on to new projects knowing that we optimized the return on our initial investment. All along, Tangible IP was a great partner, navigating the negotiation process like real pros and they were instrumental in keeping the deal alive when it looked like it might no longer happen. I would recommend them without hesitation to anyone who wants to divest its patents.”
“We feel very gratified that we were able to get more value for our client out of a portfolio that had known its best days many years ago and was mostly dormant when we became involved,” said Louis Carbonneau, Founder and CEO of Tangible IP. “It is never easy to present assets to buyers that were heavily asserted in the past and you have to make the case that not all value is gone and that the scar tissue on the assets should be seen as patina, not wounds. This is a win-win as the buyer acquires some very strong patents that are still relevant to many players in the industry.”
Tangible IP, LLC specializes in selling high quality unencumbered patents and has now brokered the sale of over 2000 patent assets since its inception and has returned tens of millions of dollars back to inventors, shareholders and patent owners.
About Tangible IP, LLC. Founded in 2011 by former Microsoft GM of IP & Licensing Louis Carbonneau, Tangible IP offers full service patent brokerage and strategic IP advisory services. For more info, visit www.tangibleip.biz or contact us via email at email@example.com or by phone at +1 (425) 868-9280.