Intellectual Ventures licensing revenue hits $700 million in 2010
Nathan Myhrvold says Thursday that his high-profile invention and patenting firm, Intellectual Ventures, has been enjoying a boom in licensing revenue recently, thanks to its trove of intellectual property.Previously:
During an evening appearance at The Wall Street Journal’s ECO:nomics Conference in Santa Barbara, Calif., Myhrvold — a former Microsoft Corp.(MSFT 25.95, -0.25, -0.94%) executive — mentioned that Intellectual Ventures saw $700 million in licensing revenue last year.An Intellectual Ventures spokeswoman confirmed the figure, and added that the firm’s total licensing revenue to date amounts to roughly $2 billion. Bellevue, Wash.-based Intellectual Ventures was founded by Myhrvold in 2000.
Myhrvold’s firm has drawn widespread attention for the quality of the thinkers who help it to conjure new concepts, and for its stockpiling of legally protected ideas. Intellectual Ventures boasts of having over 30,000 patents.
“Part of our idea is we don’t create products,” Myhrvold said on Thursday, likening his firm to an advertising agency or law firm that provides brain power but doesn’t necessarily make anything.
“I’d like to channel billions of dollars into funding new inventions,” Myhrvold said, before pausing and then adding he’s actually already achieving that goal. Intellectual Ventures has raised over $5 billion from backers.
While boosting its licensing revenue of late, Intellectual Ventures has also begun to attempt to enforce its intellectual property rights in court....MORE
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