The New "I/P Prospectors"

Read more about these latest players in the I/P market at "Going Once?" by Lisa Lerer in the the October 17, 2005 issue of IP Law & Business.

Intellectual Ventures

Founded in 2000 by former Microsoft chief technologist Nathan Myhrvold.
What it does: Billed as a company that invests in invention, IV hosts "inventions sessions" of major scientists, technologists and mathematicians, and has raised about $400 million in funding. IV has been secretive about its other plans, which may include licensing or spin-off companies.

IPotential

Founded in 2004 by former Intel licensing lawyers Ron Epstein and Joe Chernesky.
What it does: Acts as a patent broker in IP deals, and also offers some evaluation and consulting services. IPotential sold over $50 million worth of patents in the third quarter of 2005.

Ocean Tomo

Founded in 1999 by James Malackowski, cofounder of litigation strategy and consulting firm InteCap Inc. (now part of CRA International Inc.).
What it does: Aspires to be an IP investment bank. OceanTomo offers expert testimony, patent evaluation, asset management, patent acquisitions and, most famously, Ocean Tomo runs patent auctions. The company plans to run two auctions a year beginning in March.

ThinkFire

Founded in 2001, also by Myhrvold.
What it does: Offers brokerage, evaluation, litigation support, negotiation execution, and patent assertion analysis. Clients include Lucent Technologies Inc., Cisco Systems Inc., Ciena Corp. and NEC Corp.