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                      Patent Law Changes
                         and Tech M&A
           From: Corum Tech M&A Monthly Webinar
                     December 1, 2011
 Thursday, December 1, 2011
 10:00 am PT

                                                                                     www.corumgroup.com
Need to Know: U.S. Patent Law Changes

                              Elon Gasper
                              Director
                              World Technology
                              Council




Elon Gasper holds 9 patents for his software innovations and other inventions, co-founded and served as
Vice President of ALPHA, a patent holders association, and was a finalist for the Fleugelman Award, the only
personal achievement award given by the Software Publishers Association. He has won a Traditional Game
of the Year, a Best Practices for Product Innovation, a COMDEX Envision and a Codie, the retail software
'Oscar'. His background includes faculty, staff and appointed positions at UCLA, University of WA, Cal State
and other universities; Chief Technologist and VP Engineering for Sierra Online; and Systems Programmer at
DataPoint‘s Advanced Technology Center.

Elon has participated in several startups, including as sole Founder of animation pioneer Bright Star
Technology, Inc., where he was Chairman and CEO until its acquisition by leading game developer Sierra
OnLine in the early 90s. Besides active engagements with patent matters and M&A, Elon's other interests
also include serving on Advisory Boards of the University of Washington and other institutions. Elon earned
his MS in Computer Science and BS in Biochemistry from Michigan State University.

                                                                                                  Corum Group Presentation ■ 2
Background and… NEWS!


 Patents increasingly driving M&A as a business asset –
  Tech M&A May 2011
 International increasingly valuable in itself and for
  strategies like PCT-PPH
 But U.S. patents still most important
 So tech execs need to be aware of a…
 …Major change in U.S. patent law




                                                 Corum Group Presentation ■ 3
AIA, the “America Invents Act” Patent Law


 Signed into U.S. law 16 Sep 2011
 First major change since 1952 ‗codification‘
 Most significant to entrepreneurs and small companies
  since the 1700s (Thomas Jefferson, first patent examiner)
 Phasing in over next 15 months
 Changes include many unfavorable to small
  businesses, sole inventors, and unprepared
 Tech management, strategy, M&A impacts




                                                   Corum Group Presentation ■ 4
A Look at the Changes


 First to file – reverses centuries of law
 Complex, changed definitions of prior art
 New 9-month post-grant review process
 Rationed priority exams for extra fees
 Dozens of other changes: internal use immunity, joinder,
  abandonment, interference, derivation, etc.
 Even PTO admits uncertainty abounds…




                                                  Corum Group Presentation ■ 5
PTO Director Kappos…

…as quoted in National Law Review, 21 October 2011:

 ―A huge piece of legislation we need to implement…
  there is no way we're going to get it right the first time.‖
 "The education process…is going to be enormous."
 Needs 1,000 to 2,000 new examiners, 50 new
  administrative judges…but 10% budget cut this year.
  Expects additional funding from Congress next time.
 ―Understanding the new law will be a challenge not only
  for U.S. attorneys, but for those in Europe, Asia and
  across the globe.‖

                                                     Corum Group Presentation ■ 6
A Few Quick Observations


 2013 First-to-File: increased need for cash to file quickly
  and more often – or else take other risks
 Prior art: global, not just U.S., publication or sale; file date
 Secondary impact: filing frenzy before 2013
 Post-grant review: 9 months to challenge – large
  companies can monitor; can you?
 ―Micro-entity‖ fees = crumb toss (since legal fees
  are the main costs), plus it‘s delayed




                                                       Corum Group Presentation ■ 7
Summary


 AIA is a historic, complex change in U.S. law affecting
  business, tech and innovation
 Software companies must consider impact
 Value of assets, and due diligence, for M&A will see new
  differences arise
 Major uncertainties of law, implementation, practice,
  strategy, will take time to sort out




                                                  Corum Group Presentation ■ 8
Conclusion


 At least it will create jobs…
  … for lawyers!




                             Corum Group Presentation ■ 9
Learn more…


 Watch the original webinar:
   http://www.corumgroup.com/Software-MA-Webinar-Archive.aspx

 Attend a Corum Event near you or online:
   http://www.corumgroup.com/Conferences-Events.aspx

 Contact Elon:
   http://www.corumgroup.com/InformationRequest.aspx




                                                        Corum Group Presentation ■ 10
About the Corum Group


Corum Group Ltd. is the global leader in M&A
services, specializing in helping software and
information technology companies worldwide go
through a successful M&A Process—over US $6
billion in M&A transactions on six continents.




                                       Corum Group Presentation ■ 11
Disclaimer


 This presentation is provided for educational
  & informational purposes only and not for the
  purpose of providing legal advice. You should
  contact your attorney to obtain advice with
  respect to any particular issue or problem.




                                         Corum Group Presentation ■ 12

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Patent Law Changes and Tech M&A

  • 1. USA Switzerland Germany France United Kingdom Canada Sweden Brazil Patent Law Changes and Tech M&A From: Corum Tech M&A Monthly Webinar December 1, 2011 Thursday, December 1, 2011 10:00 am PT www.corumgroup.com
  • 2. Need to Know: U.S. Patent Law Changes Elon Gasper Director World Technology Council Elon Gasper holds 9 patents for his software innovations and other inventions, co-founded and served as Vice President of ALPHA, a patent holders association, and was a finalist for the Fleugelman Award, the only personal achievement award given by the Software Publishers Association. He has won a Traditional Game of the Year, a Best Practices for Product Innovation, a COMDEX Envision and a Codie, the retail software 'Oscar'. His background includes faculty, staff and appointed positions at UCLA, University of WA, Cal State and other universities; Chief Technologist and VP Engineering for Sierra Online; and Systems Programmer at DataPoint‘s Advanced Technology Center. Elon has participated in several startups, including as sole Founder of animation pioneer Bright Star Technology, Inc., where he was Chairman and CEO until its acquisition by leading game developer Sierra OnLine in the early 90s. Besides active engagements with patent matters and M&A, Elon's other interests also include serving on Advisory Boards of the University of Washington and other institutions. Elon earned his MS in Computer Science and BS in Biochemistry from Michigan State University. Corum Group Presentation ■ 2
  • 3. Background and… NEWS!  Patents increasingly driving M&A as a business asset – Tech M&A May 2011  International increasingly valuable in itself and for strategies like PCT-PPH  But U.S. patents still most important  So tech execs need to be aware of a…  …Major change in U.S. patent law Corum Group Presentation ■ 3
  • 4. AIA, the “America Invents Act” Patent Law  Signed into U.S. law 16 Sep 2011  First major change since 1952 ‗codification‘  Most significant to entrepreneurs and small companies since the 1700s (Thomas Jefferson, first patent examiner)  Phasing in over next 15 months  Changes include many unfavorable to small businesses, sole inventors, and unprepared  Tech management, strategy, M&A impacts Corum Group Presentation ■ 4
  • 5. A Look at the Changes  First to file – reverses centuries of law  Complex, changed definitions of prior art  New 9-month post-grant review process  Rationed priority exams for extra fees  Dozens of other changes: internal use immunity, joinder, abandonment, interference, derivation, etc.  Even PTO admits uncertainty abounds… Corum Group Presentation ■ 5
  • 6. PTO Director Kappos… …as quoted in National Law Review, 21 October 2011:  ―A huge piece of legislation we need to implement… there is no way we're going to get it right the first time.‖  "The education process…is going to be enormous."  Needs 1,000 to 2,000 new examiners, 50 new administrative judges…but 10% budget cut this year. Expects additional funding from Congress next time.  ―Understanding the new law will be a challenge not only for U.S. attorneys, but for those in Europe, Asia and across the globe.‖ Corum Group Presentation ■ 6
  • 7. A Few Quick Observations  2013 First-to-File: increased need for cash to file quickly and more often – or else take other risks  Prior art: global, not just U.S., publication or sale; file date  Secondary impact: filing frenzy before 2013  Post-grant review: 9 months to challenge – large companies can monitor; can you?  ―Micro-entity‖ fees = crumb toss (since legal fees are the main costs), plus it‘s delayed Corum Group Presentation ■ 7
  • 8. Summary  AIA is a historic, complex change in U.S. law affecting business, tech and innovation  Software companies must consider impact  Value of assets, and due diligence, for M&A will see new differences arise  Major uncertainties of law, implementation, practice, strategy, will take time to sort out Corum Group Presentation ■ 8
  • 9. Conclusion  At least it will create jobs… … for lawyers! Corum Group Presentation ■ 9
  • 10. Learn more…  Watch the original webinar:  http://www.corumgroup.com/Software-MA-Webinar-Archive.aspx  Attend a Corum Event near you or online:  http://www.corumgroup.com/Conferences-Events.aspx  Contact Elon:  http://www.corumgroup.com/InformationRequest.aspx Corum Group Presentation ■ 10
  • 11. About the Corum Group Corum Group Ltd. is the global leader in M&A services, specializing in helping software and information technology companies worldwide go through a successful M&A Process—over US $6 billion in M&A transactions on six continents. Corum Group Presentation ■ 11
  • 12. Disclaimer  This presentation is provided for educational & informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. Corum Group Presentation ■ 12