Price determination of intellectual company

Do NPE’s “Cost” Us $29 B? Intellectual Ventures Co-Founder Peter Detkin Sets The Record Straight  January 18, 2016 – 05:55 am
on Price Determination'

The BBC ran another article in a tired meme about evil patent owners supposedly “costing” billions per year.  Of course, the article doesn’t specify who supposedly bore this $29 B “cost” or how it was calculated, but instead cites a Boston University paper by Professors James Bessen and Michael Meurer.   According to the BBC article, “Intellectual Ventures, one of the highest-profile NPEs, was not available for comment.”  However, an IV spokeswoman told Gametime IP that she was surprised by the article and that the BBC had not, in fact, reached out to them for comment.  Fortunately, I did speak with IV co-founder Peter Detkin, to get his take on Bessen and Meurer’s latest research, and the role of NPEs in general.

Previous work by Bessen and Meurer has already been debunked by Gametime IP not once, but twice.  While the previous research included substantial flaws in assuming a direct correlation between stock price and patent owner activity, the new paper rests mainly on survey data collected through the Coalition for Patent Fairness and RPX, focusing on the amount of money spent by companies to defend and resolve patent claims against NPEs while inferring effects of NPEs generally based on only a subset of NPE behavior.

“They are taking a small piece of the puzzle and extrapolating out to the entire puzzle, ” explains Detkin.  He believes that the basic premise behind the research is a real phenomenon–that there are bad actors who impose costs onto everyone because of the improper way in which they use the legal system.  “When I coined the term ‘troll’ more than 10 years ago, I was talking about people who take specious patents that were likely invalid and asserted them broadly across an industry to extract nuisance value settlements.”  Ten years later, Detkin thinks some of the research validates his suspicions that a lot of people are “gaming the system and that there is a consummate cost to society.”

Source: Gametime IP

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