Russ Krajec is a “recovering patent attorney” who believes that IP can be used as a financial instrument. He is the author of Investing in Patents and one of IAM’s Top 300 Patent Strategists. As CEO of BlueIron, he finances the cost of patent portfolios, insures IP portfolios for enforcement and defense, and provides loans using IP as collateral. Russ has written nearly 1,000 patents for companies ranging from the Fortune 10 to startups, has been the COO and Chief IP Counsel of a venture-backed startup, and he created a business of financing the cost of patent portfolios. His company, BlueIron, adds IP insurance to the patent portfolio financing so that companies can have the tools to enforce their IP against infringers, as well as the reserves to survive IP lawsuits.
In this episode we discuss:
- Introduction [1:52]
- Hurdles he experienced as a patent lawyer [7:01]
- Create an asset and make a patent sellable [11:24]
- Application process for a patent [15:15]
- Russ financing a patent, Angel-type investor [21:50]
- Filing patents in different locations [27:16]
- One of the biggest problems with foreign patents [33:08]
- Fire sale value of a patent, patent infringement [37:03]
- Best ways to learn more about Russ, his book and services [38:50]
Quotable Quotes:
- If I finance a patent and you are able to bring that product to market. The patent has value because you’re selling the patent to the invention.
Links to sources and tools:
- Connect with Russ Krajec on LinkedIn
- Learn more about IP-related services, go to Blue Iron
- Get Russ Krajec’s Book “Investing in Patent“
- Listen to Patent Myths Podcast by Russ Krajec
Listen to other PTSS Episodes:
- Scale Your Business While Having More Freedom with Emily Morgan
- How to Make Your Customers Connected with Jeroen Corthout
- Build A Viable Business From Your Passion with Maggie Karshner
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