System and method for extracting value from a portfolio of assets

Abstract

A system and methods for extracting value from a portfolio of assets, for example a patent portfolio, are described. By granting floating privileges described herein, a portfolio owner can extend an opportunity for obtaining an interest in selected assets from the portfolio to a client who lacks the resources to accumulate and maintain such a portfolio, in return for an annuity stream to the portfolio owner. The floating privilege can take many forms, depending on the needs of the client and the nature of the assets in the portfolio. The privilege is executed for a set of assets selected by the client and approved by the portfolio owner in accordance with a floating privilege agreement controlling the floating privilege

1 . A computer program product comprising a permanent and durable computer useable medium having a computer readable program, wherein the computer readable program when executed on a computer causes the computer to execute a method for extracting value from a portfolio of assets, the method comprising:
 granting a privilege to a second party by a first party at time t 1 , wherein exercise of the privilege is conditioned upon an occurrence of a predetermined event occurring at time t 2  where t 2 >t 1 , wherein the privilege comprises a right to obtain an interest in one or more assets residing in a dynamic pool of assets comprised of assets from the portfolio of assets at time t 2 , wherein the assets residing in the dynamic pool of assets at time t 2  may be different from the assets residing in the dynamic pool of assets at time t 1 , and wherein a computer stores information concerning the dynamic pool of assets in a computer readable memory.   
     
     
         2 . The computer-program product of  claim 1 , wherein the privilege is defined in a floating privilege agreement between the first and second parties, the floating privilege agreement having a term and specifying the predetermined event and the type of interest to be conveyed to the second party upon execution of the privilege. 
     
     
         3 . The computer-program product of  claim 2 , wherein a number of assets in which the second party receives an interest is limited based on the floating privilege agreement. 
     
     
         4 . The computer-program product of  claim 2 , wherein the assets are intellectual property assets. 
     
     
         5 . The computer-program product of  claim 4 , wherein the privilege is exercised by the first party transferring rights in one or more of the assets in the dynamic pool of assets to the second party. 
     
     
         6 . The computer-program product of  claim 4 , wherein an occurrence of the predetermined event is a trigger event defined in the floating privilege agreement. 
     
     
         7 . The computer-program product of  claim 6 , wherein exercising the privilege comprises the second party selecting an asset from the dynamic pool of assets in response to occurrence of the trigger event. 
     
     
         8 . The computer-program product of  claim 7 , wherein exercising the privilege further comprises the first party qualifying the selected asset for transfer to the second party to ensure the selected asset is appropriate for use by the second party for the trigger event, and if the first party qualifies the selected asset for transfer the first party transfers rights in the selected asset to the second party. 
     
     
         9 . The computer-program product of  claim 4 , further comprising removing an asset from the dynamic pool of assets during the term of the floating privilege agreement for use by the first party. 
     
     
         10 . The computer-program product of  claim 4 , further comprising removing an asset from the dynamic pool of assets during the term of the floating privilege agreement in response to expiration of the first party's rights in the asset. 
     
     
         11 . The computer-program product of  claim 4 , further comprising removing an asset from the dynamic pool of assets during the term of the floating privilege agreement in response to transfer of the asset to a third party. 
     
     
         12 . The computer-program product of  claim 4 , wherein an additional asset is added to the dynamic pool of assets during the term of the floating privilege agreement. 
     
     
         13 . The computer-program product of  claim 12 , wherein the additional asset is added to the dynamic pool of assets in response to removing an asset from the dynamic pool of assets wherein obligations relating to the size of the dynamic pool of assets are fulfilled. 
     
     
         14 . The computer-program product of  claim 2 , wherein the privilege is terminated in response to occurrence of a termination event specified in the floating privilege agreement. 
     
     
         15 . The computer-program product of  claim 2 , wherein assets transferred under a floating privilege agreement are retained by the first party after expiration of the privilege. 
     
     
         16 . The computer-program product of  claim 2 , wherein rights to an asset transferred under a floating privilege agreement in the dynamic pool of assets revert to the first party after the floating privilege expires. 
     
     
         17 . The computer-program product of  claim 2 , wherein the privilege defined in the floating privilege agreement is a privilege for acquiring an interest in assets in a plurality of dynamic pools of assets. 
     
     
         18 . The computer-program product of  claim 2 , wherein the privilege defined in the floating privilege agreement is a privilege for acquiring an interest in assets in only a single dynamic pool of assets. 
     
     
         19 . The computer-program product of  claim 2 , wherein the dynamic pool of assets includes assets owned by a plurality of owners. 
     
     
         20 . A computer program product for maintaining a dynamic pool of assets owned by a first party among a portfolio of assets, comprising a permanent and durable computer useable medium having a computer readable program, wherein the computer readable program when executed on a computer causes the computer to:
 determine if a floating privilege event has occurred;   determine if the floating privilege event is a qualified trigger event;   facilitate a second party selecting an asset from the dynamic pool of assets if the first party has granted the second party a privilege comprising a right to select an asset from the dynamic pool of assets in response to a qualified trigger event, wherein exercise of the privilege is conditioned upon an occurrence of the qualified trigger event;   verify that the selected asset is qualified for execution of the privilege;   grant the second party an interest in the selected asset if the selected asset is verified to be qualified for execution of the privilege; and   remove the selected asset from the dynamic pool of assets if the second party is granted an interest in the selected asset.   
     
     
         21 . A computer program product comprising a permanent and durable computer useable medium having a computer readable program, wherein the computer readable program when executed on a computer causes the computer to execute a programmed method of extracting value from a dynamic pool of assets owned by a first party among a portfolio of assets, the method comprising:
 determining if a floating privilege event has occurred;   determining if the floating privilege event is a qualified trigger event;   facilitating a second party selecting an asset from the dynamic pool of assets if the first party has granted the second party a privilege that comprises a right to select an asset from the dynamic pool of assets in response to a qualified trigger event, wherein exercise of the privilege is conditioned upon an occurrence of the qualified trigger event;   verifying that the selected asset is qualified for execution of the privilege;   granting the second party an interest in the selected asset if the selected asset is verified to be qualified for execution of the privilege;   removing the selected asset from the dynamic pool of assets if the second party is granted an interest in the selected asset, wherein information concerning the dynamic pool of assets is stored in a computer readable memory and in response to removing the selected asset from the dynamic pool of assets, a computer updates the information in the computer readable memory concerning the dynamic pool of assets.   
     
     
         22 . A computer program product comprising a permanent and durable computer useable medium having a computer readable program, wherein the computer readable program when executed on a computer causes the computer to execute a method for extracting value from a dynamic pool of assets, the method comprising:
 granting a privilege to a second party by a first party, wherein exercise of the privilege is conditioned upon an occurrence of a predetermined event, and wherein the privilege comprises a right to obtain an interest in one or more assets residing in the dynamic pool of assets at the time of exercise; wherein a computer stores information concerning the dynamic pool of assets in a computer readable memory.   
     
     
         23 . A computer program product comprising a permanent and durable computer useable medium having a computer readable program, wherein the computer readable program when executed on a computer causes the computer to execute a method for extracting value from a dynamic pool of assets, the method comprising:
 granting to a second party by a first party a conditional right to i) obtain an interest in a patent from among a pool of patents in which the first party holds an interest and ii) enforce the patent in a counterclaim suit against a third party that alleges infringement of a third party patent in which the third party holds an interest, wherein exercise of the conditional right is conditioned upon an occurrence of the third party alleging infringement by the second party of the third party patent;   recording in a database an indication of the conditional right granted to the second party; and   providing to the second party a list of patents from among patents in the pool of patents from which the patent is selected to enforce in the counterclaim suit against the third party, in response to the third party alleging infringement by the second party of the third party patent, based on the indication of the conditional right recorded in the database.   
     
     
         24 . A server comprising:
 a database, configured to store indexed information describing a plurality of assets; and   a processor that executes:
 a pool creation module; and 
 a pool maintenance module, 
   wherein the pool creation module is configured to automatically create a dynamic pool of assets at time t 1  from among the plurality of assets by scanning records of the database for assets suitable for inclusion in the dynamic pool of assets based on attributes of the plurality of assets in the database and a floating privilege agreement between a first party and a second party, the floating privilege agreement having a term and specifying a predetermined event and a type of interest to be conveyed to the second party upon execution of a privilege to obtain an interest in one or more assets residing in the dynamic pool of comprised of assets from the plurality of assets at time t 2 , wherein the assets residing in the dynamic pool of assets at time t 2  may be different from the assets residing in the dynamic pool of assets at time t 1  and   wherein the pool maintenance module is configured to dynamically remove one or more assets from the dynamic pool of assets based on ineligibility rules defined in the floating privilege agreement and add one or more other assets to the dynamic pool of assets based on eligibility rules defined in the floating privilege agreement.