ARE PATENT VALUES DECLINING?

GREY GOLD ADVISORS, LLC Wild Dunes 2015

Is the US ANTI PATENT?

• Hard to Stop Infringers• Damages Decline• Patent Litigation is Expensive• Patent Win Rates are Low• PTO Invalidates Contested Patents• Patent Owners to Pay Defendant’s Legal

Fees

What Happened?

• AIA• Patent Litigation Declines• PTO Inter Partes Disputes Sky Rocket• Damage Awards are Apportioned• Easier to Invalidate Patents• Software Patents are Out of Favor• Bio/Pharma Patents Riskier

Unintended Consequences

• PTO Inter Partes Disputes Accelerate• Wild Card Patent Challenges• Patent Portfolio Values Decline• Bio/Pharma Core Patents at Risk• GAAP Heart Burn from Toxic Patents• Patent Assertion is Consolidated• Patent Costs Increase

Winners?

Deep Pockets

IP Pirates

Tech Aggregators

Generic Drug Companies

Off Shore Tech Companies

Countries that Enjoin Infringement

Losers?

• Tech SMEs• Independent Inventors• Startups• Universities• Patent Portfolio Values• US Economy

Trends

• IP Friendly Countries Attract Innovation• Globalization of IP Enforcement• Harder to Finance Startups• Financial Entities Central to IP Assertion• Too Many Patent Lawyers• Emphasis on Patent Quality• IP Expertise Is Critical

How To Make $$$ on IP

• Complexity Favors Expertise• Bank Roll the Game• Balance Risk vs. Reward

– Hold or Fold?• Patent QUALITY• Diversify IP

Grey Gold Advisors LLC

Dale C. Hogue, Sr.

dale@grey-gold.com

704-823-6195

www.grey-gold.com

Charlotte, NC