Nearly 1,200 of the World's Top IP and Business Development Leaders Attend to Gain a Handle on Key Trends, Timely Expert Insights, Useful Tools and Deal Connections
WASHINGTON, October 27, 2011— It has been a big year for the ever-evolving intellectual property (IP), technology transfer, and business development communities. Growing economic reliance on innovation, the $4.5 billion Nortel patent sale, shrinking budgets threatening innovation in biopharma, newly enacted patent reform legislation and increasingly complex IP dealings with China and other emerging markets are just a few industry-driving issues that attracted nearly 1,200 attendees to the Licensing Executives Society (U.S.A. and Canada) Annual Meeting in San Diego.
"We assembled an all-star lineup of thought leaders in IP, technology transfer and business development to provide a timely and compelling program," said newly-installed LES President Tom Filarski. "Attendees from Fortune 500 companies and beyond took away key insights on trends, deals, and cutting-edge tools that will help them more successfully navigate these challenging times."
The program, which was designed to suit business development professionals working across five industry sectors, drew leaders from top companies, research institutions, government labs and other technology-oriented organizations, who engaged in an array of networking events, interactive plenary and mini-plenary discussions and small group workshops.
Meeting highlights included an exclusive briefing titled "The Insiders' Perspective on the Nortel Auction: What Really Happened and What It Means,"featuring IP and valuation experts from Nortel, Lazard, Ericsson, 284 Partners and other companies, who actively participated in this year's unprecedented Nortel patent auction. Attendees received a fascinating behind-the-scenes look at how this dream team of experts was assembled and why they, in a groundbreaking move, advised Nortel to sell its highly-unique and valuable patent portfolio separately from its businesses.
Ultimately, the portfolio of more than 6,000 telecommunications-related patents, including wireless, wireless 4G, internet, data networking, voice, and others, sold for an astounding $4.5 billion, far more than the $3 million netted for sale of the aggregate businesses. The group also provided details of the exciting four-day bidding war, the '$900 million stalking horse' bid and the strategic advantage that was gained by allowing companies to bid as consortiums.
The group agreed that the transaction spurred a fundamental shift in the industry and an increase in the number of highly-valued portfolios coming to market, as well as a significant change in the way companies are now viewing and using their intellectual assets.
In another key session, titled"Can Biopharma Still Create Value…And How,"experts Roger Longman, Ed Saltzman and David Flores discussed the serious economic obstacles that are threatening the vitality of the biopharma industry, including a stark reduction in R&D budgets, venture capital money and early stage investors. The panel warned of a serious shortage in the drug pipeline by 2014 and debated whether pharma should get out of the R&D business and instead focus more squarely on outside collaborations with universities, consortiums and others for early-stage drug development.
The panel suggested that traditionally successful pharma business "orthodoxies" no longer work in the "new world" and must be tossed out in favor of a new business model that better meets the needs of investors and ultimately patients around the world.
Moving forward the panel urged attendees to be open-minded in their dealings and benchmarking and to look at increasing their level of collaboration.
Other informative sessions looked at implications of the new patent reform legislation, as well as how to successfully do business with China and other emerging markets.
The meeting also set the stage for the presentation of the LES Deals of Distinction™ Awards, which are given annually to companies responsible for orchestrating the year's most outstanding IP-based deals in five industry sectors (http://www.lesusacanada.org/dda). This year's winners included:
- Chemicals, Energy, Environment and Materials Sector winners: Liquid Metal Battery Corporation, Massachusetts Institute of Technology and Total Corporation
- High Technology Sector winners: Boeing and Pratt & Whitney
- Industry-University-Government Interface Sector winners: Bristol-Myers Squibb, Oncolys BioPharma and Yale University
- Life Science Sector winners: Cephalon and Mesoblast
- Consumer Products Sector winner: Disney Consumer's Fresh Produce Initiative
In addition, LES Awarded the Frank Barnes Mentoring Award to Richard Razgaitis, Ph.D. and the LES High Technology Sector released preliminary findings from its inaugural Royalty Rates and Deals Terms Survey. The new survey data provides exclusive and valuable benchmarks for dealmaking in the high tech industry.
For information on upcoming 2012 LES (USA & Canada) meetings and educational activities, visit www.lesusacanada.org.
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About the Licensing Executives Society (U.S.A. and Canada), Inc.
Established in 1965, the Licensing Executives Society (U.S.A. and Canada), Inc. (LES) is a professional society comprised of over 4,500 members engaged in the transfer, use, development and marketing of technology and intellectual property. The LES membership includes a wide range of professionals, including business executives, lawyers, licensing consultants, engineers, academicians, scientists and government officials. Many large corporations, professional firms, and universities comprise the Society's membership.
Licensing Executives Society (U.S.A. & Canada), Inc. is a member society of the Licensing Executives Society International, Inc. (LESI), with a worldwide membership of more than 10,000 members in 32 national societies, representing over 90 countries. For more information on LES, see www.lesusacanada.org.