At Lumenci, we provide turnkey solutions to generate value from patent assets. What started as a technical consulting team has, over time, evolved into a team of like-minded experts, engineers, and deal makers who find innovative ways to commercialize the value of the patents.
We frequently engage with deep-tech companies (and their investors) with sizeable patent portfolios that want to understand and estimate the value of their patents, which requires thoroughly examining their patent portfolio, deep diving into the invention/inventor story, and identifying assets that can generate maximum returns. This could also mean assisting the client in developing patents and selecting the best out of the lot for monetization. Our analysis and strategies to customers drive tangible value out of intangible assets, with more tech companies becoming more aware of the value of intellectual property. Our global clientele is now expanding with more requirements on the ‘how’ than the ‘what.’
How does Lumenci help patent owners, law firms, and litigation funders during IP litigation?
Lumenci has supported AMLaw100 law firms in over 175 patent litigation matters, on both plaintiff and defense, across the US, EU, China, India, and Brazil, and has helped generate over $3B in verdicts, settlements, licensing revenues, and cost savings. Our team has successfully represented as technology consultants in high-stakes patent litigation lifecycle in creating high-quality litigation grade claim charts, drafting complaints, investigating confidential source code under the protective order, documentation review, expert reports prep, and supporting our law firm customers during deposition and trial.
Lumenci’s vast experience of supporting multiple high-stakes cases through the trial is beneficial to patent owners in not only validating the merits of a patent portfolio from a technology and valuation standpoint but also getting a turnkey solution to craft the right story, raise capital via litigation funding or insurance, engage with law firms, and get insights throughout the commercialization lifecycle.
Our experts advise litigation funders with in-depth technology and valuation due diligence and help them identify the risks of a potential investment. Our experience with litigation funders has yielded them to mitigate high investment risks by identifying the underlying potential of patent assets, the risk of a commercialization campaign, and strategies on how to mitigate them.
What is the role of due diligence and technical analysis in the patent litigation lifecycle?
Foundational, to sum it up in a word.
Lumenci conducts due diligence on the company’s patent assets, highlighting relevance w.r.t technology evolution, assessing validity w.r.t section patentable subject matter, novelty and obviousness, scoping enforceability across the industry, and outlining the damages potential. This process becomes integral to the initial stages of a patent commercialization process. In addition, venue consideration is an important aspect of the diligence. This due diligence forms the basis of building infallible evidence, which is critical in supporting a high-stakes commercialization campaign.
How does the technical analysis process work? Are you able to analyze any technical domain?
We support high-stakes patent commercializing and litigation campaigns from day 1 through trial and specialize in technology domains like Software, Telecom/Networking, Semiconductors, and Medical Devices. We support our law firm customers in maintaining and constantly upgrading the state of infringement or non-infringement evidence, and validity or invalidity evidence as a case progresses by analyzing source code, reverse engineering hardware, testing prior art systems, and conducting complex testing of telecom/networking devices. Lumenci is well known in the industry for “illuminating innovation”, i.e. finding key pieces of evidence which can be material in affecting the outcome of a case, on both the plaintiff and defense side.
What trends are you seeing in the patent space that is relevant to litigation funders specifically, and how does Lumenci’s service fit into those trends?
As litigation costs, especially in the US, continue to increase, the level of pre-intake diligence by the litigation funders also continues to increase. For the funders, this means having access to or relationships with technical and damages diligence teams that can provide priority and prompt support to their diligence needs is essential. The litigation funders that have these relationships ironed can out-compete their peers in terms of speed and depth of decision-making. Lumenci with its trained teams in various parts of the patent monetization and litigation cycle in over 10 countries, offers this depth and speed that is virtually unmatched at scale.
Despite the rising interest rates and dire macroeconomic conditions, the growing number of litigation cases and the emerging secondary market for litigation finance claims highlight the pertinence of litigation funding. Litigation funders are particularly interested in understanding the underlying potential of patent assets and mitigation potential before investing in a case. Additionally, operating technology companies continue to find creative ways to generate revenue and many patent assets are coming to the market which have little to no diligence done on them. Lumenci’s in-depth expertise in technical due diligence, validity assessment, damages assessment, and experience in handling high-stakes patent litigation matters are highly valued by litigation funders and insurance underwriters in making informed decisions on their investments in patent asset commercialization campaigns.
