Seattle, WA, September 18, 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 the sale of a patent portfolio pertaining to electronic vehicle inspections belonging to Seattle based company Fleettrakker, LLC. The identity of the buyer and the financials of the agreement were not disclosed. This sale provides further validation to the scope and relevance of the Fleettrakker vehicle inspection portfolio at a time when the Department of Transportation is making the whole industry migrate to electronic reporting for commercial vehicle safety inspections, which are mandated by law. The portfolio which contains US and Canadian patents was developed in early 2002 when the inventor foresaw the need to develop better ways to keep our vehicles safe on the road.
“When we retained Tangible IP to help monetize this portfolio, we were hoping for one transaction to declare victory. We never dreamed that Tangible IP would be able to monetize this portfolio twice, first by signing a significant licensee and then by selling the portfolio outright. This is a great result that exceeded our expectations,” said John Hart, Founder and CEO of Fleetrakker LLC. “Tangible IP was creative in their approach and were able to successfully navigate what we understand is a pretty tough IP marketplace in order to bring revenues back to us in two different ways. We couldn’t be more satisfied with their expertise, dedication and results. I wouldn’t go with any other brokerage firm if I have other patents to sell in the future.”
“In the current market conditions where only the best assets sell, it is especially gratifying to be able to execute two consecutive revenue generating transactions with the same assets,” said Louis Carbonneau, Founder and CEO of Tangible IP. “At the end of the day, it is all about bringing value to the client and there are many ways this can be accomplished. One just needs to remain flexible and look for win-wins, as in this case and we are proud to have earned the trust of one more satisfied client.”
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.