
We help intellectual property owners and investors understand, maximize the value of, and realize significant value from IP.
Our Success
$1B+
Term Sheets
$500MM+
Transactions
100+
Deals
100%+
IP Investment IRR
Expertise
We possess a unique combination of IP, investment banking, and management consulting expertise that allows us to effectively transact IP, significantly enhance the value of IP, and manage IP-related risk.
Patent Transactions
We help patent owners monetize patents and companies acquire target patents, while our team has issued or secured well over $600 million of term sheets.
We Acquire Patents
We acquire quality infringed patents, while our team has issued over $500 million of term sheets and acquired dozens of patent portfolios over time.
We acquire infringed patents that cover products or services generating at least $100 million of revenue annually in the United States and are able to quickly review evidence of use if already prepared and to assess potential infringement if suspected. Portfolios should have issued US patents while foreign counterparts are welcome and valued accordingly.
Technology areas of interest include, but are not limited to, mobile handsets, wireless transmission, semiconductors, displays (LCD/LED/OLED), storage, audio/video transmission and codecs, telecommunications, security, PC/server hardware, networking equipment, data centers, cloud computing, Internet of Things, graphical user interfaces, and software.
Acquisitions can be for cash, a blend of cash & backend, or backend only depending on patent owner objectives. With over $500 million of term sheets issued and dozens of closed deals, we run each acquisition opportunity through an efficient process towards an expedient and successful close.
Brokerage
We represent patent owners in selling quality patents, while our team has brokered well over $100 million of patent transactions globally across dozens of technology areas.
We exclusively represent patent owners in the sale of their patents. While evidence of infringement is helpful, it is not required as our team can develop evidence of use where possible. We also drive the development of the marketing collateral, which is tailored for each patent sale.
We use a bespoke approach for connecting with prospective buyers wherein we develop a target list of buyers for each patent sale and do not over market each sale. This results in better responsiveness and attention from prospective buyers while preserving the value of the patents for sale. We have a global network of buyers that have been cultivated over many years, while we use patent analytic tools to identify additional potential buyers to customize the target list for each sale.
With well over $100 million of brokered patent transactions, we have the reputation and expertise to successfully and diligently close patent transactions.
Buy-Side Representation
We work with both operating companies and non-practicing entities to identify, dligence, and acquire quality patents.
We provide strategic buy-side representation for entities seeking to acquire patents that drives successful, cost-effective, and efficient transactions. Our assistance can include target identification, patent valuation, due diligence, and negotiations, and is focused on helping clients secure patents that align with their objectives.
Royalty Transactions
We acquire high-quality royalty streams, while our team has issued over $150 million of term sheets.
Owners of royalty streams have many different motivations for selling them, which includes generating cash for working capital, raising non-dilutive financing, and de-risking revenue. Royalties can be based on patents, trademarks, copyrights, trade secrets, or other intangible assets.
We focus on acquiring royalties that have a projected lifetime cash flow of at least $10 million to several hundred million USD. We can close transactions quickly that are tailored to a seller’s objectives. This can include acquiring an entire future royalty stream or just a portion of such royalties (e.g., based on a specified time period, specific $ or % amount).
With over $150 million of term sheets issued, we have the ability to effectively diligence and value quality royalty streams.
Litigation Finance
We help clients raise capital to enforce their IP, while our team has secured over $250 million of term sheets from investors.
The cost and geographic footprint of IP-based litigation has significantly increased over the past decade. Unfortunately, many IP owners lack the funds and/or risk tolerance necessary to successfully litigate in this new paradigm. In order to successfully raise capital for litigation, an opportunity must be packaged in a way that resonates with investors. And because term sheets can vary widely between funding sources, it is important for an IP owner to have discussions with more than one source to understand what a good deal looks like before accepting capital.
We leverage our expertise in IP, damages, enforcement, and finance to develop enforcement campaigns with our clients. We then transform the campaigns into compelling investment opportunities. Our diverse global network of funding sources that collectively manages hundreds of billions of USD allows us to structure funding around the unique needs and objectives of each IP owner and campaign.
We can also source law firms to represent our clients and advise them through the entire enforcement process.
Typical financing ranges from $3 million to over $15 million and has potential damages of at least $75 million. With over $250 million of term sheets secured, we can effectively find the right investor and terms for a quality litigation finance opportunity.
Patent Strategy
We work with clients to develop effective and implementable strategies to enhance and extract value from their patent portfolios.
Portfolio Development
We help companies develop and strengthen their patent portfolios.
We work closely with clients to identify innovation opportunities, draft high-quality patent applications, and align patent strategies with business goals. Whether a startup or an established corporation, we provide tailored guidance to maximize the value of a patent portfolio and enhance the businesses’ competitive edge.
Portfolio Monetization
We help companies unlock the full value of their patents by developing tailored monetization strategies.
We identify the best pathways to maximize revenue from patent portfolios. Our approach involves identifying patents that are core to a business and then developing executable monetization strategies for non-core patents, whether through licensing, sale, enforcement, or strategic partnerships, Strategies will typically include determining target pricing and prospects, potential monetization partners, required investment if any (capital and people), projected expenses, timeframe, and potential returns and risks.
Portfolio Optimization
We help businesses refine their patent portfolios to maximize value, reduce costs, and align with strategic objectives.
We analyze patent portfolios to identify high-value patents, redundant or underutilized assets, and opportunities for monetization or divestment. By assessing competitive landscapes and business goals, we provide actionable insights to strengthen core innovations, eliminate unnecessary filings, and enhance overall patent efficiency. Whether looking to streamline maintenance costs, improve monetization potential, or ensure stronger patent protection, we enable data-driven decision-making to build more strategic, valuable, and cost-effective patent portfolios.
Patent Valuation
We help companies and investors understand the financial worth of patents.
We use established and proven valuation methodologies to assess the true worth of patents. Whether preparing for a merger, seeking investment, or managing risk, we provide precise, data-driven insights as to the value of patents. With our expertise, our clients can better leverage patent portfolios and make informed strategic decisions involving them and the underlying business with confidence.
Transaction Advisory
We provide buy-side and sell-side support to businesses and investors so that they have a thorough understanding of the IP involved in a transaction and potential post-closing risks.
IP Inventorying
We analyze the entire IP portfolio of a business to provide full visibility into each asset and any encumbrances, while ensuring all IP is included in the transaction.
IP portfolios can be very difficult to fully understand as they grow in size and geographic coverage. If there is prior IP licensing or assignment history, the difficulty becomes exponential. We take a methodical and thorough approach to identify each IP asset, understand its geographic coverage and expiration date, and identify any dilution of rights that may have occurred in the past. We also provide full visibility into the status of all IP in development, including upcoming office response and payment deadlines, and fees due for granted IP.
With a thorough inventory and IP analysis, our clients can feel confident that there will not be any surprises or balls dropped post-transaction.
Product Coverage Analysis
We evaluate the patent portfolio of a business to identify core patents and critical gaps in relation to current and future products and services to better understand IP ‘s support for the value of a business.
We provide a comprehensive evaluation of company’s patent portfolio to identify which patents directly relate to its products and services and is core to the business strategy and growth. By mapping specific patents to specific current and future product/service lines, we help uncover critical patents, assess competitive positioning, and ensure alignment with business objectives. Our analysis highlights key patents and potential gaps, which can be shored up through new patent development and/or acquisition.
Competitive Analysis
We provide our clients with valuable insights into the patent landscape of a target company’s industry to better understand competitive positioning, opportunities, and risks,
We systematically evaluate competitors’ patent portfolios to identify key innovations and technology trends. The analysis includes assessing patent strength and relevance to a target company’s business, geographic coverage, filing trends, and citation networks to determine competitive positioning. Additionally, we uncover gaps in the market where a company can innovate and commercialize with increased financial upside and reduced legal risk. By leveraging advanced analytics and AI-driven patent mapping, we help businesses refine their R&D strategy, anticipate competitor moves, and make informed decisions on acquisitions and investments.
Litigation Risk Assessment
We provide a comprehensive evaluation of existing and potential patent related risks so our clients can confidently proceed with transactions while minimizing post-transaction legal and financial surprises.
We provide crucial insights for businesses and investors considering mergers, acquisitions, or investments by assessing existing patent legal exposures and identifying potential exposures that could arise after closing. We conduct a thorough analysis of ongoing lawsuits related to patents as well as potential future patent threats that could impact the financial and operational stability of the target company. By leveraging legal data, relevant third-party patent portfolios, industry trends, and risk modeling, we identify red flags that may pose future threats. The evaluation includes risk quantification, scenario analysis, and strategic recommendations, helping acquirers and investors make informed decisions, negotiate favorable terms, and mitigate unforeseen liabilities.
About Us
TrueNorth IP is a boutique investment bank led by an intellectual property industry veteran who possesses a significant track record of success, has deep global expertise, and is recognized as one of the world’s top 300 IP strategists.
James Trueman is the CEO of TrueNorth IP and has been transacting IP for over 20 years and structuring deals for more than 30 years. Intellectual Asset Magazine has selected him as one of the world’s top 300 IP Strategists. As the former Managing Director and leader of Ocean Tomo’s Investment Banking and IP Transactions practices, he closed well over $100 million of IP-related deals. Such deals included advising BASF SE in the sale of their organic light emitting diode (“OLED”) technology to a subsidiary of Universal Display Corporation for approximately $96 million.
Mr. Trueman was previously Vice President at Acacia Research Corporation, a prominent NASDAQ-traded patent licensing company. At Acacia he led IP acquisitions in multiple high-value technology areas that have already generated hundreds of millions USD of licensing revenue. His diverse experience further includes helping to establish a private equity fund focused on commercializing IP as a Managing Partner of M1 Partners, and consulting several of the largest global software companies on growth strategy as an Engagement Manager at McKinsey & Company.
Mr. Trueman received his Master of Business Administration from the Wharton School at the University of Pennsylvania where he was named a Palmer Scholar (top 5% of class). He received his Bachelor of Science in Finance from the Haas School of Business at the University of California at Berkeley where he graduated with Honors.