知识产权货币化？看看“Upstream”公司是如何做的？

来源：IPRdaily英文网（IPRdaily.com）

采访人：IPRdaily国际部Camila

受访人：Upstream公司负责人Louden Owen

Upstream是一家专注于知识产权投资管理咨询，战略投资组合开发和专利运营的公司。IPRdaily有幸采访到Upstream的负责人Louden Owen。Louden Owen是位职业风险投资家和律师，是他迫使微软把word文档的后缀由.doc改成了.docx。

Upstream公司负责人Louden Owen

Loudon Owen 简介

Loudon Owen是多伦多大学·文学士、法国枫丹白露·欧洲工商管理学院工商管理硕士、奥斯古法学院·法学博士以及知识产权杂志社I Am所列全球300名世界知识产权战略家之一。

Owen先生作为一位风险投资人，国际商人，律师，熟悉并主要致力于企业并购，技术融资，知识产权货币化。在投资界从业已超过25年，曾引领众多初创企业走向成功，也参加了众多的慈善事业及公益事业。他将继续服务于公众和私人领域的创新及初创企业。

1992-1994年，作为Softimage公司的COO，Owen先生将原本只有4名员工的Softimage公司规模扩大至250名员工，成为全球高端3D动画公司的领军人物，并成功将其运作于1992年在纳斯达克上市，后于1994年出售微软。

Loudon 也担任商业投资公司McLean Watson 和Owen Corp 的主席。他同时也是多伦多McLean Watson投资公司的创始合伙人；

他曾经有过将知识产权货币化超过10亿美元的成功案例，其中包括他所代表的i4i公司起诉微软公司的专利侵权案，最终联邦巡回上诉法院与美国最高法院判罚微软3.15亿美金；

Owen先生目前是Upstream Partner的创始合伙人，如今UpstreamPartner在知识产权投资及咨询领域所获颇丰。

专访正文

IPRdaily: Could you please share with our readers a brief overview of what you are currently focusing on?

您好，Louden Owen先生，此次有机会采访到您倍感荣幸。您可否和IPRdaily的读者们分享一下Upstream以及您目前正在专注的事情？

Louden Owen：Our passion is simple. We believe intellectual property is the engine driving the global economy and creating positive change. As a consequence of this profound belief, we are committed to protecting the rights of inventors and intellectual property owners.

我们的激情很简单。我们认为，知识产权是推动全球经济发展的积极因素。基于这个深刻的信念，我们致力于保护发明人和知识产权人的权利。

Upstream invests in, and provides advice on, intellectual property (IP). Our focus is on high value patent portfolios, typically with industrial or commercial applications. We are approached by many of the world’s leading universities and research organizations, as well as by inventors and of course corporate clients, to help them at various stages of the IP monetization business.

Upstream主要从事两个方面的业务。 一方面我们投资知识产权（IP），另一方面我们提供咨询意见。我们的投资和服务重点是高价值的专利组合，通常是工业或商业应用。许多世界领先的大学，研究机构， 发明家以及企业客户都会找到我们，以帮助他们处于知识产权货币化各个阶段的业务。

This ranges from assisting in developing national and international patent filing or prosecution strategies, performing IP landscapes regarding the current and future market, doing valuations, licensing analysis and negotiations and of course enforcing patent infringement. We are perhaps best known for monetizing IP that is infringed by way of litigation.  

我们的服务范围涉及很广， 包括协助制定国内和国际专利申请或起诉策略，对于当前和未来的市场进行知识产权专利景观分析，对知识产权进行估值，许可分析和谈判，当然还包括专利侵权的执法。我们最著名的也许是对侵权进行诉讼而获利从而实现知识产权货币化。

At any point in time, we are involved in a 5-10 significant monetization programs, most of which have some component of litigation. Typically, but not exclusively, we assist the plaintiffs. Currently we are also helping to assemble vertical market patent pools which are extremely concentrated in particular industries with high demonstrated value or rapid growth.

在任何时候，Upstream都有5-10个重要的货币化计划同时进行，其中大部分都有诉讼参与。通常而言， 而非绝对的，我们协助原告人一方。目前，我们还在帮助组装垂直市场专利池，这些专利池高度集中在具有高现值或快速增长的特定行业。

A major current initiative is assisting several large, international clients analyze and enter the Chinese markets seeking either to release products or enforce patents. In addition, we are working with Chinese clients who seek assistance in designing global strategies.

我们目前的一个主要举措是协助一些大型国际客户分析和进入中国市场， 以期寻求发布产品或实施专利。此外，我们也正在与一些寻求协助设计全球战略的中国客户合作。

IPRdaily： In the regard of patent monetization and patent investment and financing, what is your specific mode of operation?

那么在专利货币化和专利投融资这些方面，Upstream具体是怎样的运营模式？

Louden Owen：Patent monetization spans an enormous range of activities so we have developed a formula and practice that allows us to focus first and foremost on deep analysis in several areas. As a fundamental step, typically we assess the value of any patent including how important it is and how well positioned it is competitively. We determine if there are other proactive strategies to build and enhance the patent itself, or related technologies and property rights that can augment its value.

专利货币化是一个涵盖很广的商业活动，所以我们自行发展了一套模式和实践方式，使我们能够首先集中在几个领域进行深入分析。我们的基本步骤通常是评估专利的价值，包括其重要性以及竞争优势的地位研究。我们也决定是否采取其他主动的策略来建立和增强专利本身，或研究其相关的技术和产权，以增加该专利的价值。

Assuming we have taken whatever steps we can to help increase its value, we determine the optimum licensing and monetization strategy. Litigation is  necessary if parties using patented innovation are unwilling to pay license fee voluntarily. Accordingly, our go-forward strategy development inevitably considers our options ranging from friendly licensing, enforcement or litigation as needed, and of course ongoing ways of co-venturing to develop joint ongoing development programs so we not only monetizing existing patents but developing new patent rights collectively.

假设我们采取了任何可能的步骤来帮助提高价值的，我们可以确定最佳的许可和货币化策略。在专利创新的使用者不想主动的支付合理的许可费时， 诉讼就是必要的了。因此，我们的前瞻性战略制定上一定会考虑到我们的可有选择，包括友好许可， 执法或诉讼（如果需要的话），当然还有持续的合作方式来共同开发的发展计划，因此可以说， 我们不仅可以帮助现有的专利进行货币化， 也同时开发新的专利权。

We are quite unique because we have both an interdisciplinary team and financial resources. As a result, we are able to fund and manage cases ourselves. However some larger companies are not able to work on that basis so we are flexible in how we work with our inventors and partners. While we will consider working on the basis of fees, our preference is either to be motivated by performance and success. This can include receiving equity interests in companies we assist, particularly where they are in hyper-growth sectors.

我们的团队构成非常独特，我们拥有一支跨领域的团队和不同的融资渠道。因此，我们可以自己资助和管理案件。相比较而言，一些较大的公司无法像我们一样在此基础上进行工作，因此我们对于发明人和合作伙伴的工作方式更加灵活。虽然我们会收取固定的费用，但我们的更喜欢由绩效和成功成为我们的驱动力。因此我们的收费还包括收到我们协助的公司的股权，特别是一些在高增长行业的公司的股权。

IPRdaily：Could you please introduce your team?

您的团队人才是怎样的架构？

Louden Owen：We are very proud to have assembled a world-class team. Most importantly, we have a uniquely interdisciplinary group of partners and associates. Our core team includes two longstanding patent strategists who have been directly involved as valuation and legal experts in some of the most important and significant patent cases ever. The licensing and strategic group is based both in the USA and Canada. We also have team members who were at the forefront of developing the field of patent analytics and specifically patent landscaping, including lawyers who were the foundation of the patent monetization industry. Our patent analytics is based in California. Because the financial dimensions of this business are so vital, we also have a very prominent and innovative investment banker who has a quarter century of history in developing innovative products and structures. Our team includes not only specialists but also what we would refer to as generalists who design key strategies and lead negotiations.

非常值得我们自豪的就是我们组建了一个世界级的团队。最重要的是，这支团队由跨学科的合伙人组成。我们的核心团队包括两位资深的专利评估策略师，他们直接参与了一些重要的专利案件中的估值和法律诉讼。在美国和加拿大都有我们的许可和战略专家小组。我们也有团队成员专利分析的前沿领域，特别是专利景观分析处于领先地位，也包括作为专利货币化行业基础的律师。我们的专利分析总部设在加州。由于这个业务的财务维度至关重要，我们团队也囊括了业绩成功并充满创新精神的投资银行家，他在开发创新金融产品特别是结构性的金融产品有二十五年的历史。我们的团队不仅包括专家，还包括设计关键策略和牵头谈判的通才者。

In addition, we have an important array of industry or domain experts we rely upon. Many of these experts have been the most senior intellectual property managers in companies that are global leaders. We also have access to industry thought leaders, particularly at universities and research centres.

此外，我们还依靠一大批行业或领域的专家。其中许多专家是全球领先企业中资深知识产权管理。我们也有渠道杰出的行业领袖，特别是在大学和研究中心。

Naturally, we work with the best supporting professionals in the industry, including top law firms. This industry is somewhat unusual because of its reliance on the legal community, and we have invested a substantial amount in analyzing which law firms are the leaders.

自然，我们与行业最好的配套专业人士合作，包括顶尖的律师事务所。这个行业由于依赖法律界而有点不寻常，我们因此投入了大量资金来分析哪些律师事务所是行业的领导者。

IPRdaily：Both domestic and abroad, patent industry is not quite balanced, let’s say patent technology monetization alone, how can we achieve a relatively balancing situation?

无论国内外，专利行业都十分不平衡，那么单说专利技术货币化这一项，如何才能做到相对平衡一些？

Louden Owen：There is often an imbalance between parties in negotiations or litigation. One can easily imagine the enormous power of a global leader with billions in sales versus the relatively small power a university committed to higher learning. We refer to this as an asynchronous or imbalanced situation. Our responsibility is to even the playing field and ensure that our clients can negotiate, litigate and work with any organization or any size or importance without being disadvantaged. Even the largest companies in the world have limitations on amount of capital that they invest in each case, by having a dedicated pool of capital for patent litigation, we can often match the financial resources that a large company which allocates to an individual case. Moreover, while industry giants can afford tremendously capable and motivated professionals and managers, we are driven by a passion for achieving fairness that attracts a different breed of expert and professional.

谈判或诉讼中各方之间经常存在不平衡。 人们可以轻而易举地想象一个全球领导者的巨大力量，销售数十亿美元，而大学致力于高等教育其力量相对较小。 这种情况我们称之为asynchronous或不平衡的情况。 我们的责任是平衡这种状况，确保我们的客户能够和任何组织（不论大小和重要性）进行谈判， 诉讼和工作， 而不会因为对方的大小或者重要性因而处于不利地位。 即使是世界上最大的公司，他们分配到每一个案例的资本也是有限的，所以当我们有专门用来打官司的基金， 我们可以很轻易的和大公司分配到每个案件的资金相配。 此外，虽然行业巨头可以负担得起能力强大的专业和管理人员，但我们的激情是为了达到公平，而这种热情可以吸引到不同行业的专家和专业人士。

IPRdaily：If Chinese growing technology companies wish to do a patent layout overseas, do you have any better suggestions for them?

成长型的中国科技公司如果想在海外做专利布局，您这边是否有什么更好的建议？

Louden Owen：For any growing Chinese company looking to patent overseas, or indeed any growing company with global as aspirations, we always recommend achieving a clear strategy. Some of the most dynamic companies are also some of the most impatient enterprises, and instead of starting with a careful and thoughtful plan. As Sun Tzu said in the Art of War so many years ago, preparation determines victory on the field of battle.

对于任何正在寻求海外专利的中国公司，或任何一家放眼全球的成长型公司，我们始终建议在一开始就制定明确的战略。 一些最具活力的公司同时也是一些最不耐烦的企业，他们欠缺从始开始的细心周到的计划。 正如孙子许多年前的在孙子兵法中所说，做好充足的准备，方能知己知彼， 百战不殆。

IPRdaily： It is said that you have invested more than 800 projects over the past 20 years, which were very successful. Those projects all took patent as a starting point. Therefore, you get a lot of praise of the industry. Are any typical cases you could share with us? How many percent of Chinese companies' cases are?

据了解，您再过去20年内投资的800多个项目都十分成功，都是从专利作为切入点，得到了业界很多赞美，那么是否有什么典型的案例可否和我们分享一下？中国企业的案例又占到了多少百分比？

Louden Owen：We respect the confidentiality of clients and partners so we tend to be very discreet about referring to individual situations or cases. The vast majority of our work is on patent portfolios. The first call we often receive is simple. The partner or client typically believes they can own an enormous percentage of a growing industry but is concerned with its patent portfolio, and they need to find the best people in the world to help them build and execute a strategy.

我们尊重客户和合作伙伴的保密性，所以我们倾向于对于个别情况或个案谨慎的披露。我们绝大多数的工作都针对专利组合。我们经常收到的第一个电话很简单。合作伙伴或客户通常认为他们可以拥有不断增长的行业的很大一部分，但对其专利组合则有担心，他们需要找到世界上最优秀的专才来帮助他们建立和执行战略。

As one example, I was responsible for one case (i4i vs. Microsoft), from the original analysis, through all the steps of building the case, and then through trial, appeals and disputes at the US Patent and Trademarks Office. Ultimately, we went the Supreme Court of the United States where we prevailed. As a result, we were awarded the largest award ever affirmed by the Federal Circuit Court of   Appeals and the Supreme Court, which resulted in a payment to use of over $315 million (USD).

举个例子，我负责的案例（i4i与微软），从最开始的原始分析，到通过所有步骤来立案，然后通过美国专利商标局诉讼，上诉和争议。官司我们一直打到了美国最高法院。因此，我们被授予了联邦巡回上诉法院和最高法院所肯定的至今为止史上最大的赔偿金额－微软因此支付了3.15亿美元（USD）。

Historically we have not had significant investment in Chinese cases because the licensing fees and recoveries have been limited. However, we are particularly excited by the growth and changes in the Chinese market. Two developments are propelling our interest. First, the Chinese economy has been so creative, dynamic and successful that many companies that are world class leaders and innovators are now based in China. This provides a rich resource of intellectual property, especially at companies in China are filing patents at an unprecedented pace.  It also includes the patent office itself (SIPO) and its related institutions demonstrating both creativity and vision that has enabled the growth in information and opportunities. Second, the Chinese patent system itself has also evolved at such a rapid pace that it provides increasingly interesting opportunities to invest resources and, in our view, China will represent a true epicentre of, and increasingly important building block on a global scale for, the world’s most important intellectual property development in the coming years.

从历史上看，我们没有对中国案件进行大量投资，主要是由于中国许可费和追偿金额有限。不过，我们对中国市场的增长和变化感到特别兴奋。两项发展推动了我们的兴趣。首先，中国经济的创造性，能动力和成功，带来了许多世界级的领导者和创新者的公司。这提供了丰富的知识产权资源，特别是在中国的公司以前所未有的速度申请专利。它还包括中国专利局（SIPO）本身及其相关机构所展示出的创造力和愿景，促进了信息的增长和大量的机会。第二，中国专利制度本身也发展迅速，为投资提供了越来越多的有趣的机会，我们认为，中国将成为全球范围内真正的知识产权中心，是全世界知识产权版图中的重要一块。 在未来发展的几年， 中国的地位会越来越重要， 中国的发展将带来世界上知识产权发展。

IPRdaily：It is said that many customers around the world will go directly to the United States to consult with you. As a Canadian, compared to Americans, what do you think your advantage to do business in USA?

据说，全球很多客户都会直接去美国找您咨询。作为一个加拿大人，在美国把业务做到美国人都羡慕的地步，您觉得您在这个领域相对于其他人的优势是什么？

Louden Owen：We are fortunate to have started with a very international perspective and team. As a Canadian who represented Canadian companies in some of the most important cases in history, international companies often ask us about how to approach the US market. Candidly, some companies are extremely interested in how we have achieved such success in the US both in business and in the court system. Our advantage and approach is simple, when you are going to any competitive market, first you must prepare. Second you prepare. Third, you prepare. We do not let our clients take anything for granted. In our experience, the US market and indeed its court system, is both well developed and fair. But to take advantage of it, you have to be prepared to negotiate and compete with some of the most brilliant, capable and strategic minds in the world.

我们很幸运地有一个非常国际化的视野和团队。 作为加拿大人，我代理了加拿大公司参与了历史上最重要的一些案例。 国际公司也经常问我们如何接近美国市场。 坦率的说，有些公司对于我们如何在美国市场和法律系统方面取得如此成功非常感兴趣。 我们的优势和方法很简单，当你面对竞争激烈的市场时，首先你必须做好准备。 第二你必须做好准备。 第三，你必须做好准备。 我们不会让我们的客户对任何情况都认为是理所当然的。 根据我们的经验，美国市场和其法院制度既发达又公平。 但要利用这一点，你必须准备与世界上最聪明，最有能力和战略性的专业人士进行谈判和竞争。

IPRdaily：With many clients consulting with you, how do you judge whether a technology is valuable?

那么在这么多客户的咨询中，您是如何判断一项技术是否有价值？

Louden Owen：It may be surprising but one of our first tests is the people. Who is behind the innovation and who is our client. We only work with world leaders, both in terms of technology and thought leadership. While a single patent portfolio may be the opportunity we are reviewing, it often takes decades to conclude a business so we need to know the quality, reputations and capabilities of the people we are working with are top notch.

我的回答可能会令你吃惊，但是我们首先测试的是“人”这个因素 - 谁在创新的背后，谁是我们的客户。 我们只与世界在技术和思想方面的领头人合作。 虽然单个专利组合可能是我们正在审查的机会，但了解总结一个公司通常需要几十年时间，因此我们需要知道我们正在合作与工作的人员的质量，声誉和能力是一流的。

From a technical point of view, we assess all sorts of inputs, including historical use, sources of the innovation, conventional valuations based on applicable royalty rates and the level of importance of the innovation. Naturally we assess the quality and validity of any patent, as many if not most patents are now challenged as a matter of course by parties who simply do not want to enter into, or respect, fair licensing practices. Naturally we also investigate infringement and use by third parties.

从技术角度来看，我们评估各种投入，包括历史使用，创新来源，基于适用的特许使用费率的常规估值，以及创新的重要程度。 当然，由于一些当事人不愿意参与和尊重公平许可的做法， 大多数专利现在都受到挑战，我们会评估任何专利的质量和有效性. 自然而然我们也会调查第三方的侵权和使用。

IPRdaily：What are your expectations for the future of the Chinese market? And what are your plans for the future of your company?

您对于未来的中国市场有什么期待？以及贵公司未来有什么规划？

Louden Owen：As we discussed earlier, China is at the forefront of many exciting developments. We feel that the impressive innovations not only in growth industries but also in the field of intellectual property itself must be respected and appreciated. The Chinese market is going to be a pivotal market for us during the next stage of our own growth. We intend to grow our business in China to ensure we continue to be the leading international organization for the monetisation of intellectual property globally.

正如我们前面讨论的那样，中国处于许多令人兴奋的发展的前沿。 我们认为，不仅在增长行业，而且在知识产权领域，令人印象深刻的创新都必须受到尊重和赞赏。 中国市场将在我们自己成长的下一个阶段成为我们的关键市场。 我们打算在中国发展业务，以确保我们继续成为全球知识产权货币化的领先国际组织。

来源：IPRdaily英文网（IPRdaily.com）

编辑：IPRdaily 赵珍  /   校对：IPRdaily   纵横君

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