Tangible IP Announces Sale of Small Patent Portfolio at Multimillion Dollar Price

Online, March 19, 2012 (Newswire.com) - TANGIBLE IP, an international patent brokerage and Intellectual Property advisory firm headquartered in Seattle announced the recent closing of a small patent portfolio in the online provisioning technology area. The portfolio brokered by Tangible IP comprised of 3 related issued US patents owned by Colorado based Teleservices Solutions, Inc. (TSSI) fetched a noteworthy price that included potential profit sharing terms between the buyer and seller. The identity of the buyer cannot be disclosed.

This transaction represents a price per patent an order of magnitude greater than the mean price in the current patent sales market. "We feel very gratified to see a small inventor rewarded at such a high level for his innovations", said Louis Carbonneau, CEO and founder of Tangible IP. "After another broker marketed those same assets and failed to create traction, we took a fresh look at those and were able to find some applications for the patents that were not obvious, even to the inventor. This enabled us to tell a compelling story to the potential buyers and it explains why we were successful in eliciting offers and closing at such a high valuation".

TSSI, a small family owned company, had tried to monetize the technology for years without success. This resulting transaction now provides them with a substantial return in cash while allowing for some upside from the buyer's future licensing activities. "We couldn't be happier with our choice to have retained Tangible IP to market and sell our patents", said TSSI's CEO. "We quickly realized that the IP team assembled by Tangible IP was top notch and provided clarity of direction developing a very well-articulated technical demonstration of the portfolio's reach and relevance to buyers. They were also masterful in their negotiating with a very sophisticated buyer while guiding us through the process so that we knew exactly what was going on, all the way up through closing, and even afterward. Through their efforts and dedication, they almost doubled the initial offer resulting in mutual success! The Tangible IP team was very competent, professional and responsive and we couldn't have done it without them."

Tangible IP has now brokered over 1500 patents since its inception last year and has quickly established itself as one of the leading patent and IP advisory firms.

ABOUT TANGIBLE IP, LLC. Founded in 2011 by former GM of IP & Licensing at Microsoft Louis Carbonneau, Tangible IP specializes in the brokerage of high value portfolios and related IP licensing and consulting services. For more info, visit www.tangibleip.biz or contact us at [email protected] or at +1 (425) 213-7252.