LES Silicon Valley Chapter Webinar:
"Collateralizing IP and Other (Even More Intangible) Intellectual Capital Assets"
Wednesday, April 21, 2021
Online registration is available until: 4/21/21
3:00 - 4:30 PM Eastern
2:00 - 3:30 PM Central
1:00 - 2:30 PM Mountain
12:00 - 1:30 PM Pacific
The LES Silicon Valley Chapter is pleased to present the latest installment in its continuing webinar series on Intellectual Capital Management. This session will be a roundtable discussion of how IP, as well as more ephemeral forms of intellectual capital, like data, tacit employee knowledge, and supply chain or customer relationships, can be used as collateral for commercial bank loans by a wide range of technology-intensive businesses from start-ups to SME’s to global companies.
Attendees are encouraged to contribute questions and comments during the roundtable discussion.
Discussion topics include:
- Collateral Types
- IP Rights (legal perspective)
- Intangible Assets (accounting perspective)
- Intellectual Capital (investor perspective)
- “IP Finance” Alternatives
- Collateralization vs. Securitization
- 2-party vs. 3-party structures
- Comparison with Venture-Debt
- Lender Risk Concerns
- Satisfying established loan-to-value ratios
- Predicting liquidation value in the event of default
- Lack of familiarity with IP/IC valuation methodologies
- History and Lessons Learned
- Government-sponsored partial guarantee initiatives for local SME’s in Asia & Europe
- Commercial banker resistance to less than 100% repayment guarantees
- Comparison of the AON and AREOPA collateralization models
- Traditional IPRs vs. broader class of intellectual capital assets
- Borrower maturity: Start-Ups vs. SME’s v. BigCo’s
- Debt vs. Equity
- Valuation model comparisons
- Brian Hinman, Chief Commercial Officer, Aon Intellectual Property Solutions
Brian is part of the senior leadership team at Aon which provides leading edge methodologies for assessing and valuing their clients’ IP assets in order to enhance enterprise value and mitigate IP risk exposure. He has over thirty years of IP experience, having held senior executive positions at some of the world’s leading companies. Prior to joining Aon, he served as Chief IP Officer at Philips, based at its headquarters in the Netherlands. In this capacity, he also held the position of CEO of Philips’ IP & Standards subsidiary and led a team of over four hundred IP professionals in nine different countries. He formulated and executed a robust IP strategy for each of Philips’ business units including IP portfolio management, all IP litigation matters (offensive and defensive), active participation in various industry standards, and conducting all forms of IP monetization including patent, technology and brand licensing and formation of various IP ventures. Previous to Philips, he was co‐founder and CEO of Unified Patents. and before that he held positions of VP of IP and Licensing at IBM, Verizon and InterDigital, and was founding CEO of Allied Security Trust.
- Ludo Pyis, Founder and President, Areopa Group
From the beginning of his career, Ludo has worked as an organizational development specialist. He holds masters degrees in economics & psychology as well as an MBA from Harvard. He began his career at GM and later joined the senor management team at Hewlett Packard HQ in Palo Alto, where he was worldwide VP of Organizational Development, responsible for transforming the company into a more customer-driven organization which ultimately resulted in restructuring of the overall HP organization. In the early ‘90’s Ludo launched his own company, Areopa, headquartered in Belgium, which advises on implementation of large change management projects for multinationals. In the late ‘90’s, Areopa began focusing on the valuation, auditing and financial reporting of “intellectual capital” assets and now has 450 collaborators worldwide. Areopa has become a leading voice urging the accounting world to include intellectual capital assets -- beyond legally enforceable IP rights -- on corporate balance sheets and thus more accurately reflected in enterprise value. This includes things like tacit (i.e., unrecorded) employee knowledge (aka human capital) and non-contractual supply-chain and customer relationships (ska relationship capital).
- Ron Laurie, Managing Director, Inflexion Point Strategy; Chairman & CIPO, InventionShare
Ron has worked in Silicon Valley since before it had that name, initially as a systems engineer at Lockheed and later as a lawyer focusing on the intersection of IP strategy and complex corporate transactions including M&A, business unit and technology spin-outs, joint ventures and IPO’s. He was a founding partner of the Silicon Valley offices of Irell & Manella, Weil Gotshal, and Skadden Arps and has taught IP strategy courses at Stanford and UC-Berkeley law schools. At Skadden, he founded and led the firm’s IP Strategy & Transactions practice group and managed IP teams in transactions representing over fifty billion dollars in aggregate value. Upon his retirement from Skadden, he launched Inflexion Point Strategy, the first IP-focused investment banking advisory firm. Ron is also Executive Chairman and CIPO at InventionShare, a new kind of early-stage investment fund which transforms breakthrough inventions into broadly patented platform technologies that can be productized by global companies across a broad range of applications and markets. With regard to today’s topic, he has advised government agencies in Singapore, Malaysia and Taiwan in connection with their “IP Finance” programs in which the government partially guarantees repayment of commercial bank loans to local SME’s.
- LES-SVC CLE Credit: 1.5 hours CLE credit available (California).