Seattle, WA, June 10, 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 Financial Management System technology belonging to individual inventor Elizabeth Dyor. The specifics of the agreement and the identity of the buyer were not disclosed.
Despite the recent demise of many software patents since the US Supreme Court decision in Alice, the brokerage firm was able to demonstrate the applicability of this portfolio to the industry and convince a sophisticated buyer to acquire the assets. Through its technical experts, Tangible IP developed detailed charts showing how the patents were being practiced by several key industry players.
In 1999, the inventor was frustrated with the lack of synchronization between online transactions and personal financial management software that tracked such transactions. She designed an elegant way to capture transactions as they occurred and automatically update the financial software used by the person doing the transaction. It took over a decade of the industry to finally catch up with such a clever innovation. Since the inventor had no intentions to start a business based on her patent, she contacted Tangible IP to find a suitable buyer for her patent. “Like many individuals who invent by necessity, or frustration like in this case, I don’t mind seeing the industry take on my ideas and make everyone else benefit from it, as long as there is a way to reward the inventor for his or her contribution,” said the inventor and seller Mrs. Dyor. “I am very happy that we contacted Tangible IP and that they provided a simple conduit to monetize this patent rather than being forced to contact companies that practice our patents and have to enforce those ourselves, which we had no interest in doing. After they reviewed our assets, Tangible IP undertook to present the portfolio in a way that showed its value to the industry and guided us throughout the negotiating and closing process, which is never simple. The materials they prepared were really solid and they spared no efforts and expense making sure they would hold under scrutiny. We also appreciate the way we were kept abreast at every step leading to closing the sale (and even after) and how Tangible IP managed our expectations throughout. I would recommend them without hesitation to anyone who wants to divest its patents.”
“You can’t help but feel good each time you can help a small inventor monetize their contribution to society so that others will be encouraged in turn to innovate, knowing that the system will ultimately reward them,” said Louis Carbonneau, Founder and CEO of Tangible IP. “This is why it is so important to avoid rushing into any patent ‘reform’ that only makes it harder for small inventors to reap the just benefit of them disclosing their innovation to the rest of the world for its greater good. Mrs. Dyor is just one of thousands of innovative Americans who want to make sure the patent system will continue to be there to protect their rights and provide them the right incentives to keep innovating. We are happy that we proved them right this time.”
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 firstname.lastname@example.org or by phone at +1 (425) 868-9280.