His critics have called him “one of the most notorious patent trolls in America.” Many others have tried and failed to emulate his success. However, it’s hard to deny that Erich Spangenberg is in many ways a singular visionary in the world of patents. If there are celebrities in the patent world, it’s Erich Spangenberg.
As the founder of IPNav, he completed over 1000 licensing transactions - worth billions of dollars. To the surprise of many, he then joined forces with hedge fund manager Kyle Bass to challenge pharma patents under the AIA. More recently, he founded IPwe - a blockchain-based platform for patent transactions.
On this episode, Erich shares the story of how being sued for patent infringement by Ronald Katz led him to embrace the patent monetization field. He also shares his strategies for successful patent assertion, his candid perspective on being labeled a “patent troll,” why big corporations wanted him to work for them, what he thinks the role of generative AI will be for IP, his plans for IPwe after its bankruptcy, and much more!
Key Takeaways:
Innovative Approach to Patent Assertion: Erich Spangenberg's strategies involve early information sharing and comprehensive presentations to inform and engage potential infringers.
Learning from the Best: Insights gained from industry veterans like Ron Katz and applying asset management principles, rather than merely advocating, have been keys to Erich’s success in patent monetization.
Impact of America Invents Act (AIA): Addressing the ramifications of AIA, Erich explains how his collaboration with Kyle Bass aimed to showcase its flaws and its current role in pharma patent challenges.
Future of Patent Transactions: Despite challenges, Erich remains optimistic about utilizing blockchain and AI for creating an efficient marketplace for patents.
Notable Quotable:
"Not every patent asset is a great one. As a matter of fact, the vast majority of them aren't."
Erich Spangenberg on How to Succeed in Patent Monetization