Seattle – JULY 1, 2020. TANGIBLE IP, LLC, an international patent brokerage and Intellectual Property advisory firm headquartered in Seattle, with over 3500 patents successfully brokered, announced that it successfully completed the sale of a 20 asset patent portfolio pertaining to interactive music, also containing augmented and virtual reality patents, which was developed over the last two decades by US-based operating company Beamz Interactive, Inc. Beamz is the leading developer of interactive music technology, software applications, and intellectual property for a broad range of music, virtual music, gaming, education, healthcare and consumer markets and applications. The identity of the acquirer nor financial details of the agreement could be disclosed. The portfolio is widely relevant to several industry members across several product lines such as interactive music games, MIDI controllers and other high end music equipment, and will remain available for licensees who want to take advantage of the new acquirer’s licensing program.
“We retained Tangible IP as our patent broker a few years back and they did a great job understanding our technical contributions as a company and the value of our patents,” said Charlie Mollo, CEO of Beamz Interactive. “They immediately set to preparing first class marketing materials and started a thorough outreach campaign on our behalf. Although we had to decline some initial offers they generated and then had to take our portfolio off the market for a while to accommodate some other business needs, Tangible IP was there when we were finally ready to resume things; they continued to work tirelessly as our advocates throughout and did not relent until they had finally found a good fit for our portfolio pursuant to business terms that make this a win-win with the acquirer. It is rare these days that we find this kind of dedication for such a long period and we feel very fortunate that we had this partnership with them,” said Mr. Mollo.
“For decades, Beamz has been a true pioneer in making music creation accessible to all and they have made really valuable technological contributions to the interactive music & AR/VR spaces along the way,” said Louis Carbonneau, CEO & Founder of Tangible IP. “As an operating company, they did not want to get involved in asserting their patents against several parties, so we had to be creative in finding an acquirer that understood the strength of the assets and would provide our client with just compensation for the value of their patent portfolio,” said Carbonneau. “We had been working with Beamz on this project for quite a while and this is testament, once again, that our long-term approach to business ultimately pays off for our clients.”
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Tangible IP, LLC specializes in selling high quality unencumbered patents and has now brokered the sale or license of over 3500 patent assets since its inception and has returned tens of millions of dollars back to inventors, shareholders and patent owners.
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