ipbi_pjd
TRANSCRIPT
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Intellectual Property Business Information Services B.V. [IPBI]
Peter-Jan Dullaert
introducing patent valuation
new indicators (not only) for the financial market
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IPBI is an innovative software
firm, specializing in Intellectual
Property valuation.
The company was founded in 2014
as a Spin off from Lighthouse IP
group (NL) and IPR Systems (DE).
Headquartered in Amsterdam with
offices in Berlin and Stuttgart
About IP Business Information
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Patents are the key to their business…
What do these companies have in common?
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A known picture….or unknown picture..
For an ever increasing
number of companies their
IP is the essence of the
business.
Business info show
revenue, size, balance
total, market cap, profit…
sometimes trademarks,
but not Patents.
A major hidden value…
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Share of intangible assets on company values – 1975-2015
The impact of patents
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The value of a (technical, scientific) company nowadays is determined
by up to 80% by the Intellectual Properties (Patents, Utility Models).
These assets are mostly unknown or very difficult to gather
Companies with good patents have a much higher value than
known from their balance and a value potential for the future
IP assets
(unknown so far)
book value
company value
The impact of patents
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IPBI has valued all patents worldwide
with a unique approach and stored them in
a database.
The development of the methodology and
data production required more than 35
person years of development since 2008.
RESULT: up to 25 different value indicators
and patent family values were generated
offering unique additional information to
different target groups of customers.
2014(e)
IP relevance A
Technical Quality B
Market Attractiveness B
Market Coverage B
IP Efficiency A Value Trend +
And now something completely new…
© IP Business Information B.V. 2015
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Portfolio Management & Monetization
• Patent sales/purchases
• Licensing/cross-licensing agreements
• IP valuation for funding
• IP valuation for court proceedings
• In-kind contributions to joint ventures
• Technology benchmarks
• Market assessments
Financials
• M&A purchase price allocation
• Portfolio valuations for transfer pricing – due dilligence
• Balancing of intangible assets (IFRS) for reducing interest rate
• Shareholder interests, stock value
Why valuating patents? Cui bono?
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Data samples: Basic qualitative ranking [BQR]
TechnologyStrength
Technical quality of the patent grants and applications, “A” indicates an average high technical quality
Market Coverage
Size of the patent families in different countries, an “A” indicates that the most relevant markets (biggest economies) are covered with the IPR
Value Trend IP value development compared to former year, + means that the value increased at least 5%, - means they decreased at least 5%
IPefficiency Value distribution of the patent families in the portfolio, “C” indicates that there only few patent families (<10%) who are determining at least 80% of the portfolio, the other 90% of the patent families are of low value, “A” indicates that the IP values are well distributed, most patents are substantial. This indicator is available only if there are more than 50 patent families
© IP Business Information B.V. 2015
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Data samples: Basic qualitative ranking [BQR]
Company
Company Key figures
Bauer Bertrandt
Biotest Cewe Deutz KWS Saat Puma Rational SAF Holland
Schaltbau
Technology Strength
A B A B A A A A B B
Market Coverage
B C A C C A A B B B
Value Trend + 0 0 - - 0 - 0 + +
IPefficiency B n/a B n/a B B B B A A
Patentfamilies 319 4 58 12 218 67 80 376 149 142
© IP Business Information B.V. 2015
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Data samples: Extended qualitative ranking [EQR]
Assess key figures of a single companyby comparing them with benchmarks: Example „Technology strength“
Question: How strong are the patents of the company regarding their claimedtechnology?
Answer: the company‘s patents are rated with A - better than the average in the same technical field but worse than the benchmark.
Technology strengthMedian value
Worst knownvalue
Best knownvalue(benchmark)
© IP Business Information B.V. 2015
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Data samples: Extended qualitative ranking [EQR]
Assess key figures of a single companyExample „Market Coverage“
Question: How strong are the patents of the company regarding themarkets they are addressing?
Answer: the company‘s patents are rated with B, this means they areclose to the median but in this case they are even worse.
Market Coverage
© IP Business Information B.V. 2015
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Data samples: Extended qualitative ranking [EQR]
Assess company key figures in comparison, e.g. by comparing competitors
Question: Who has the best technical patents compared to other SDAX corporations?
Answer: in the above comparison KWS Saat keeps the most interesting ones froma technical point of view
© IP Business Information B.V. 2015
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Data samples: Extended qualitative ranking [EQR]
Assess company key figures in comparison, e.g. by comparing competitors
Question: Who addresses the most interesting markets regarding innovations andsustainable growth compared to other SDAX corporations?
Answer: in the above comparison Gesco and Bauer seem to address the interestingmarket fields here are currenty most innovations done.
© IP Business Information B.V. 2015
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Patent valuation on corporate level
Looking behind the scenes: Bauer AG has the highest hidden IPR assets in relation to it‘sclaimed intangible fixed assets
Ratio: IP value/intangible fixed assets
Access company‘s IP-asset potential by comparing the IP assets to the intangible fixed assets of a single company or in comparison to others
© IP Business Information B.V. 2015
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Data samples: Extended qualitative ranking [EQR]
Assess company‘s IP-asset trendby comparing the IP assets from one year to another, single or in comparison
Question: Who insists in innovation?
Answer: in the above comparison Grammer and KWS seem to invest most into innovationduring the last years
IP-Value distribution over 3 years in 1000 €
© IP Business Information B.V. 2015
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Data samples: Monetary value of the completepatent portfolio of a company [MVC]
min max min max
Bauer A A A B B 319 -12,54% 21.309.917 € 40.420.000 € 26.931.776 € 50.820.000 €
BERTRANDT C B A C n/a 4 -8,13% 60.000 € 130.000 € 90.000 € 160.000 €
BIOTEST B A A A B 58 6,47% 3.969.365 € 7.570.000 € 4.131.681 € 7.820.000 €
CEWE C B A C n/a 12 -2,76% 219.607 € 420.000 € 240.000 € 470.000 €
DEUTZ A A B C B 218 -7,71% 20.609.857 € 38.799.701 € 22.343.105 € 42.027.517 €
Gesco B A A B B 60 10,94% 2.857.651 € 5.339.275 € 2.838.206 € 5.289.254 €
Grammer A A B B B 341 10,25% 20.350.703 € 37.920.859 € 20.300.753 € 37.841.247 €
Jungheinrich B B A B B 446 -10,41% 17.492.731 € 32.688.707 € 21.481.823 € 40.130.103 €
KWS Saat A A A A B 67 8,72% 18.571.113 € 34.804.633 € 18.792.310 € 35.211.478 €
Puma C A B A B 80 -0,37% 3.761.095 € 7.053.989 € 4.155.099 € 7.785.291 €
Rational A A B B B 376 9,20% 18.458.075 € 34.479.687 € 18.582.534 € 34.744.070 €
SAF Holland A B A B A 149 6,71% 8.023.107 € 15.190.000 € 8.204.077 € 15.680.000 €
Schaltbau A B A B A 142 -4,40% 4.107.325 € 8.160.000 € 4.809.334 € 9.330.000 €
IP rele-
vance
2014 2013Technica l
Qual i ty
Market
Attractive-
ness
Market
Cover-
age
IP
efficien-
cy
fami l ies
2014
IP value
trend
© IP Business Information B.V. 2015
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- Financial department (CFO/CEO)- IPR department- Strategic Business Intelligence- Legal department (M&A, Licensing)- Supplier rating
Who are interested in this information?
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IP Business Information B.VSuikersilo-Oost 91165 MS Halfweg-AmsterdamThe Netherlands
Phone: +31 655204988Fax: +31 85 8000 025
[email protected] www.ip-bi.com