Monetizing intellectual property (IP) through patents and trade secrets can be a highly lucrative strategy for businesses, but it comes with its own set of legal challenges and issues. This panel session will seek to determine legal issues surrounding IP monetization and brings clarity immediate issues:
Legal Issues:
- Licensing trade secrets to third parties
- Commercializing trade secrets through joint ventures or partnerships
- Internal processes for maintaining confidentiality while commercializing trade secrets
Methods for Monetizing Trade Secrets:
- Explore the nature of the innovation
- What are competitive advantage considerations—long-term trade secret protection vs. temporary monopoly of a patent
- What are the market conditions and potential buyers/licensees—are they more likely to value the exclusivity of a patent or the secrecy of a trade secret?
Michael Renaud
Jamie Simpson
Mike Binns
Micheal Binns is Head of Patent Portfolio Strategy for Meta’s Family of Apps and an Associate General Counsel on the Patent, Licensing, and Open Source team at Meta, formerly Facebook. Michael also leads Meta’s IP Trade Secret and Design Patent protection strategies. As a registered patent attorney, Mike’s helped protect global copyrights and trademarks in addition to patent rights for a wide range of industries. At present, he advises on global IP portfolio strategy and risk mitigation related the future of social networking, AR/VR, and the metaverse. Micheal has and continues to protect the knowledge, systems, and inventions that are business-critical drivers of revenue.
Before joining Facebook, Micheal was the Atlanta Office Development Partner at Parker Poe Adams & Bernstein LLP, where his experience included the litigation, counseling, and prosecution of all forms of intellectual property related to a variety of industries and technologies.
