Seattle – MARCH 25, 2020. TANGIBLE IP, LLC, an international patent brokerage and Intellectual Property advisory firm headquartered in Seattle, with over 3000 patents successfully brokered, announced that they successfully brokered the sale of a patent portfolio pertaining to Multifactor Authentication, belonging to Wireless Key Identification Systems, Inc. The identity of the buyer nor financial details of the agreement could be disclosed. This sale provides further validation to the scope and relevance of the Wireless Key ID portfolio with respect to the secure authentication technology, as this transaction follows four previous distinct license transactions the firm also successfully brokered for the client. The portfolio proves its foundational value as it is directly relevant to the FIDO Alliance standards. The portfolio remains available for sale to others and highly relevant to the market, as it is widely practiced by a number of industry leaders. It should be noted that the above licenses were voluntary and occurred as a result of Tangible IP’s outreach to sell the portfolio and did not involve any assertion related activity.
“This is the fourth transaction that Tangible IP has brokered on our behalf around our single patent and we could not be more pleased with the outcome of their efforts so far,” said Nick Owen, President of Wireless Key ID. “They were able to put in place a number of licenses with very sophisticated parties and then find a good home for our patent so that others who specialize in this can continue to monetize on their end. For small companies like us, this is by far the best outcome to recoup value for our innovations and we would recommend Tangible IP to all patent owners who are in our situation,” added Owen.
“Given current patent valuations and the tough legal environment, we feel extremely satisfied with how we have been able to use creative ways to generate proceeds and return a value to our client that far exceeds in aggregate the industry average,” said Louis Carbonneau, CEO & Founder of Tangible IP. “With the sale of this patent to our buyer, we feel confident that there is still significant licensing potential given the untapped value of this portfolio and its relevance to the industry. It feels great to close the book on our end with such a desirable outcome for our client.”
Tangible IP, LLC specializes in selling high quality unencumbered patents and has now brokered the sale or license of over 3000 patent assets since its inception and has returned tens of millions of dollars back to inventors, shareholders and patent owners.
Tangible IP offers full service patent brokerage and strategic IP advisory services. For more info, visit www.tangibleip.biz or contact us via email at info@tangibleip.biz or by phone at +1 (425) 868-9280.