Problem:
- Global 1000 company, learns that a software company is about to sell off a very relevant patent portfolio through a broker
- The Client’s name and bidding information could be leaked to another bidder. In such a case, the eventual purchaser of the portfolio (even possibly a patent troll) could use that information when approaching the client
yet2 Strategy and Role:
- Based on trust built over several years of licensing negotiations with the client (both representing them and representing a counter-party), the client asks yet2 to bid/negotiate anonymously on its behalf
- yet2 advised the Client on negotiating strategy and carefully executed that strategy
- yet2 entered agreement with broker for exclusive negotiation period
- yet2 led negotiations on key terms in the patent purchase agreement
Results:
- The Client remained anonymous throughout, right until the actual signing of the definitive patent purchase agreement
Conclusion:
- The patent portfolio was purchased at half the price of the client’s budget.