OCEAN TOMO ANNOUNCES COLLABORATION WITH ILLINOIS INSTITUTE OF TECHNOLOGY FOR MASTER’S IN INTELLECTUAL PROPERTY MANAGEMENT AND MARKETS
ON WORLD IP DAY
April 26, 2011 (Chicago, IL) – As first reported this morning by Stephen R. Albainy-Jenei, Editor-in-Chief of Patent Baristas, Ocean Tomo, LLC, the leading intellectual capital merchant banc™ firm, is supporting the Illinois Institute of Technology Master’s Program in IP Management and Markets by providing adjunct instructors addressing methods for intellectual property (IP) valuation and the determination of patent damages as well as current issues impacting IP based equity value, shareholder fiduciary duty and the sale or license of IP rights.
Jacqueline A. Leimer, IIT IP Management and Markets Director shared in her interview with Patent Baristas that Ocean Tomo, drawing from its staff of IP trained damage experts, appraisers, investors, risk managers and transaction advisors, “Exposes our students to cutting-edge thinking regarding future financial trends, including global IP markets.”
Ocean Tomo’s contribution to the program at IIT is overseen by Andrew W. Carter, Managing Director and one of the founding partners of Ocean Tomo. Mr. Carter’s team provides essential coursework beyond the legal aspects of intellectual property, training managers in all facets of technology commercialization and IP management.
According to Mr. Carter, “Teaching the IIT Master’s in IP Management and Markets is a priority for Ocean Tomo. Educating the next generation of IP professionals is part of commitment to the community. We believe that enhancing the IP ecosystem will lead to benefits for everyone in this industry.”
As the Managing Director in charge of Ocean Tomo’s Expert Testimony Group, Mr. Carter finds teaching in the classroom very similar to providing testimony in front of a jury, as both involve transforming complex subjects into easily understandable issues.
“Whether in court or the classroom we strive to keep the interest level high; losing someone in the middle means they likely won’t understand the end of the story. And in both cases we focus on the key takeaways to ensure the audience (be it students or jurors) has a reason to remember what we said,” explained Mr. Carter. “Interestingly, some of our class sessions turn into lively discussions of differing viewpoints, not unlike cross examination, though without some of the unpleasant undertones.”
Today marks World Intellectual Property Day. The 2011 theme - Designing the Future - provides a great opportunity to build greater understanding of the importance intellectual property management by focusing on the education of next generation entrepreneurs, business leaders, educators and policy makers.
Fostering a greater understanding of the business of intellectual property is vitally important. Mr. Carter noted, “Intellectual property is one of the few growth areas left in our economy. In order for the U.S. to hold onto its economic position in the world we must continue to out-innovate our global competitors. Intellectual property represents the structure of that industry… potentially our last, but greatest, industry.”
Intellectual property is clearly a valuable corporate asset and significant contributor to economic performance. Market challenges and opportunities spur innovation and as novel ideas emerge from corporate R&D labs, they are afforded intellectual property protection and become contributors to our economy. These advances emerging from corporate R&D labs need skilled managers who are uniquely educated to manage the majority value of a company’s assets (the intangible assets).
The Master's of Intellectual Management and Markets program is the “new MBA for this new knowledge-based economy,” explained Robert Rutherford, degree-candidate, IIT Master’s in IP Management & Markets. “The students here at the IPMM program focus on the 80% of the market value that other business students have ignored.”
Established in 2003, Ocean Tomo, LLC, is the leading Intellectual Capital Merchant Banc™ firm. The company provides financial products and services related to Intellectual Property, including expert testimony, valuation, research, ratings, investments, risk management and transactions. Ocean Tomo assists clients – corporations, law firms, governments and institutional investors – in realizing Intellectual Capital Equity® value broadly defined.
Headquartered in Chicago, Ocean Tomo has offices in Boston, Greenwich, Orange County, Paris, and San Francisco. Subsidiaries of Ocean Tomo include: Ocean Tomo Risk Management, LLC; Ocean Tomo Asset Management, LLC; OTI Data Networks, LLC; Patent Marking, LLC; and Ocean Tomo Capital, LLC – publisher of the Ocean Tomo 300® Patent Index family. Ocean Tomo is the founder and majority owner of the Intellectual Property Exchange International (IPXI), Inc. as well as the exclusive licensee and distributor of PatentRatings® system.
The master's in intellectual property management and markets at Illinois Institute of Technology (IIT) is the first degree program in the country to provide a foundational understanding of intellectual property that integrates perspectives and skills from five key disciplines: business; computer science; design, engineering and law. Graduates of this program will be equipped to take strategic and leadership roles in leveraging and managing intellectual property whether through marketing, research and development, portfolio management, legal protection, or business transactions.
Illinois Institute of Technology, an international, Ph.D-granting research university with world-renowned programs in engineering, architecture, the sciences, humanities, psychology, business, law and design, is uniquely positioned to understand the interrelationship of the various facets of intellectual property. IIT is the first university in the United States to offer this unique interdisciplinary program.
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