In another attempt to create an efficient marketplace for
patents, Aqua Licensing is offering access to a substantial portfolio of
patents—“more than 60,000.” The patents
are part of the portfolios of AT&T, Rambus, Lenovo and Entegris, among
others. According to the Aqua Licensing website:
Startups submit business plans to the pool as they would to a
venture capital investor, at which point the team of patent experts at AQUA
identify IP assets that will improve the defensive position of the company and
contribute to its long-term growth and value potential. When a match is made,
the IP is offered to the startup in exchange for equity, rather than cash, as
part of their next-round of financing. This structure enables the startup to
secure the Strategic IP Investment from the technology leader prior to pricing
the financing round, allowing the benefits of the secured IP and strategic
investment to be reflected in the valuation of that round. In many cases this
allow for an immediately accretive acquisition of assets.
This sounds similar to one of Google’s recent efforts. At least one study has shown that supposed
patent trolls may target new companies near significant events such as
IPOs. This type of portfolio may provide
defensive protection against practicing entities—which is a valid concern, of
course. According to Bloomberg BNA, Aqua’s
program is closer to a marketplace because it can result in patent
ownership.
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