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COVID: Patents Being Abandoned At Triple The Normal Rate According to BlueIron Study

BlueIron, LLC

An updated analysis by BlueIron shows that the COVID crisis has dramatically affected business's IP strategy. This lack of confidence in the future has never been seen before and has severe implications. "Patents represent a company's confidence in the future and their ability to innovate. Companies get patents because they believe in their innovations and that they will be successful in the market," says Russ Krajec , CEO of BlueIron, which finances patent portfolios for innovative companies. "COVID has been shaken this confidence in ways we have never seen before." The abandonment rate has shot up since COVID started, especially for Small Entities, which are companies of less than 500 people. As reported in March , the abandonment rate nearly doubled, but in July, the trend has continued with abandonments nearly tripling. For Small Entities, the abandonment rate has gone from 11.7% to 31%. For Large Entities, the abandonment rate has doubled from about 6.5% to 13%. Abandonments are pending patent applications where the applicant has decided to quit prosecution. These data are from when the USPTO examiner has issued a rejection and the applicant has refused to respond, letting the patent go abandoned rather than invest more money in it. The average number of rejections for US patents is about 4.2 per patent. "Patents are 20 year assets and are typically are not affected by short term market swings. A similar study during the 2008 recession showed patent abandonment rate being very steady," says Krajec . "However, the COVID crisis has changed things in ways we have never seen before." "Certainly, companies are taking a very hard look at expenses and IP costs are one way to conserve cash during lean times. But cutting off the future value of your company by abandoning patents shows a completely different type of thinking than we have seen before." About BlueIron: BlueIron provides IP-related financing for companies from startups to publicly traded companies. BlueIron finances the cost of getting a patent and building patent portfolios, provides insurance for enforcement and defense of those patents, and can provide $2-5M loans using patents as collateral. You can read the BlueIron blog here. About Russ Krajec: Russ Krajec is a registered patent attorney who has been practicing for over 20 years, as well as a podcaster, blogger, and author. His book “Investing In Patents” describes the business criteria used to identify good inventions and good patents. Krajec is the host of the Patent Myths podcast, which looks at IP from a business standpoint. Contact Details Russ Krajec +1 970-776-4355 russ.krajec@blueironip.com Company Website https://blueironip.com

July 13, 2020 01:00 PM Mountain Daylight Time

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Center for the Study of Capitalism at Wake Forest University Hosts Diversity & Inclusion Webinar

LEVICK

Wake Forest University’s Center for the Study of Capitalism will host a July 15 webinar titled, “Doing the Right Thing: How Companies Lead in the New Age of Diversity & Inclusion.” The event will focus on potential diversity and inclusion initiatives for businesses currently rethinking their policies and communications tactics. The panel’s evolution was prompted by the recent focus on the Black Lives Matter protests that have generated far more conversation than all other social issues – abortion, immigration, gun control, #MeToo – combined . The panel will be hosted by the Center for the Study of Capitalism at Wake Forest University, a research and teaching center and a trusted source of information about well-functioning democratic capitalism. The panel will be hosted by Richard Levick, Chairman and CEO of LEVICK and Executive Affiliate of the Center for the Study of Capitalism. Webinar panelists include: Neil Foote, Foote Communications Kurt Bardella, LEVICK William Ide, Akerman Chris Jackson, Ipsos Derede McAlpin, LEVICK “Since the murder of George Floyd and the Battle of Lafayette Square, diversity and inclusion have dominated our society’s debate in ways they haven’t since the great Civil Rights movement of the 1960s,” Levick said. “All the CEOs, general counsels and board members we have spoken with recognize this historic nature of this moment and tell us ‘We want to do the right thing, but we don’t fully know what or how.’ This webinar is designed to provide the pathway.” While some companies have made significant changes to their policies policy to respond to the Black Lives Matter movement and the public’s outcry for corporate action, many are still asking how and what to do while others are unnecessarily immobilized by past actions or inactions. The webinar will include communications and legal experts who will examine the internal and external changes that companies need to adopt given societal upheaval. For more information on the webinar, visit https://capitalism.wfu.edu/events/doing-the-right-thing-how-companies-lead-in-the-new-age-of-diversity-inclusion/ About the Center for the Study of Capitalism The Center for the Study of Capitalism at Wake Forest University is a research and teaching center and a trusted source of information about well-functioning democratic capitalism. Contact Details Maria Stagliano +1 404-245-0899 mstagliano@levick.com Company Website https://www.levick.com

July 10, 2020 09:30 AM Eastern Daylight Time

Americans Blindsided by Medical Bills During COVID-19

YourUpdateTV

Most Americans do not know the prices of their healthcare prior to receiving the care. This can lead to unforeseen medical bills that can be financially devastating to Americans and their families. Recently, Cynthia A Fisher, Founder of PatrientRightsAdvocate.org partnered with YourUpdateTV to discuss the importance of healthcare price transparency. A video accompanying this announcement is available at: https://youtu.be/l0EX546XbLs System-wide healthcare price transparency can become law by passing the Healthcare Price Transparency Act, which requires hospitals and insurance companies to reveal their discounted, cash prices and secret, negotiated rates, as part of the next COVID-19 stimulus package. This is a bi-partisan issue. 90% of all Americans surveyed want to know prices and be able to shop for the best quality at the lowest price – driving down the costs of care and coverage. Businesses contracting directly with price transparent providers for care and coverage, are already saving 30-50% for their employees and their families. Economists estimate that this bi-partisan measure will save over $1 trillion per year for the United States. Healthcare price transparency is the key to lowering America’s devastatingly high healthcare costs through informed, empowered consumers. For more information, please visit PatientRightsAdvocate.org About Cynthia A. Fisher Cynthia A. Fisher is a life sciences entrepreneur, independent investor, and corporate board director. She founded WaterRev, LLC to invest in novel technologies that enable sustainable practices in water use. She serves on the public company boards of The Boston Beer Company (SAM) and Easterly Government Properties, Inc. (DEA). Cynthia is best known for her pioneering work as Founder and CEO of ViaCord, Inc., a leading umbilical cord blood stem cell banking service which she started in 1993. In 2000, she co-founded and was President of the cellular medicines company, ViaCell, Inc. (Previously to founding ViaCord, Cynthia ran the Blood Bank Division of Haemonetics Corporation, a medical equipment manufacturer. She began her career in sales at IBM focusing on healthcare IT, insurance, and defense industries. Cynthia holds an MBA from Harvard Business School, as well as an Honorary Doctorate of Science and BS in Biophysics from Ursinus College. About YourUpdateTV: YourUpdateTV is a social media video portal for organizations to share their content, produced by award-winning video communications firm. It includes separate channels for Health and Wellness, Lifestyle, Media and Entertainment, Money and Finance, Social Responsibility, Sports and Technology. Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

July 10, 2020 09:30 AM Eastern Daylight Time

Current Patent Litigation Costs Are Between $2.3 to $4M - from the BlueIron blog

BlueIron, LLC

Patent litigation in the US has two major stages: claim construction (sometimes called a Markman hearing) and a trial for infringement and damages. In a vast majority of cases, once the claim construction is done, the writing is on the wall and a settlement happens. "With the cost of litigation at an all-time high, patent enforcement and defense insurance makes sure you have the ability to survive," says Russ Krajec of BlueIron, a patent-finance company. The American Intellectual Property Lawyer’s Association (AIPLA) issues a bi-annual survey of IP-related costs . In the latest survey, the claim construction portion of a patent litigation ranges from $250,000 for less than $1M at risk to $2.375M for cases where $25M or more is at risk. For the entire trial, the AIPLA says that for less than $1M at risk, the trial will cost $700,000, while the very high value cases will cost $4M or more. “The AIPLA data says that with less than a million dollars at stake, both parties will have to spend $700K – or a total of $1.4 million dollars to fight a patent lawsuit,” says Krajec. “That is crazy that the expenses are so high.” “Startup companies are always cash-constrained,” continues Krajec. “No startup has the cash reserves required to go up against a Big Tech company that decides they want to use the startup’s technology. Not only does this happen in technology-based companies, but it is standard practice with the life sciences space. Certain big companies find it cheaper to blatantly infringe a startup’s patents and just dare them to sue.” Patent enforcement and defense insurance gives a startup the means to survive patent litigation, yet few startups bother to get these policies. “Most angel investors who are board members require a startup to have director’s and officer’s insurance. Over the last decade there were fourteen patent lawsuits for every individual D&O claim,” says Krajec. BlueIron is a broker for patent enforcement and defense insurance policies, including policies written by Intellectual Property Insurance Services Corporation in Louisville, Kentucky. “IP insurance is the only insurance we sell, as part of our whole patent-based financing options for companies from startups to publicly traded companies.” Schedule a call with BlueIron and see if Intellectual Property Insurance is right for your company. Learn more about Patent Litigation here on the BlueIron blog. Learn more about BlueIron's IP insurance here. The PatentMyth Podcast has an episode on patent insurance. About BlueIron: BlueIron provides IP-related financing for companies from startups to publicly traded companies. BlueIron finances the cost of getting a patent and building patent portfolios, provides insurance for enforcement and defense of those patents, and can provide $2-5M loans using patents as collateral. You can read the BlueIron blog here. About Russ Krajec: Russ Krajec is a registered patent attorney who has been practicing for over 20 years, as well as a podcaster, blogger, and author. His book “Investing In Patents” describes the business criteria used to identify good inventions and good patents. Krajec is the host of the Patent Myths podcast, which looks at IP from a business standpoint. Contact Details Russ Krajec +1 970-776-4355 russ.krajec@blueironip.com Company Website https://blueironip.com

July 10, 2020 08:02 AM Eastern Daylight Time

Patent Myths from BlueIron: You Should Never File A Provisional Patent Application

BlueIron, LLC

“Provisional patent applications are widely touted as the go-to thing for startup companies or independent inventors, but they are always the wrong thing to do,” says Russ Krajec , CEO of BlueIron , a company providing IP-related funding for emerging companies. A provisional patent application has a lower filing fee than a conventional, non-provisional patent application, and many patent attorneys will do provisional applications for much less than a “full” or non-provisional patent application. A provisional patent application has a one-year deadline to convert to a non-provisional patent application, so many people use this opportunity to add more material to the patent application. Even the United States Patent and Trademark Office suggest that independent inventors use the provisional patent application route. “From a business and economic standpoint, the provisional patent application creates more problems than it solves,” says Krajec, a registered patent attorney. “The provisional application process is designed to delay getting a patent, but in almost every situation, it is better to speed up the process – the exact opposite of the provisional.” The faster a company can get its patent, the faster the company can license and enforce their technology. The faster the patent issues, the more value the company has when it is raising money or getting loans using IP as collateral. “The difference in filing fees between a provisional and non-provisional patent application is about $600. When raising money, a provisional patent application screams to an investor ‘I don’t think this patent application was worth the extra $600 to file it as a non-provisional!’” explains Krajec. “Some sophisticated angel investors see provisional patent applications as ‘angel bait.’ Many entrepreneurs know their patents might be worthless, but they do provisionals to satisfy gullible angel investors.” A low-cost provisional patent application often results in a loss of international filing rights, but always results in a delay in getting an enforceable/licensable asset, and a more expensive patent overall. “Many entrepreneurs are mistaken that just because they filed a ‘thin’ provisional application that they are ‘protected.’ But the actual protection only starts when the complete, non-provisional patent application is filed.” To learn more, please visit the BlueIron Blog "Should I File a Provisional Patent Application" or the PatentMyths podcast episode entitled “The Myth of Provisional Patent Applications” . About BlueIron: BlueIron provides IP-related financing for companies from startups to publicly traded companies. BlueIron finances the cost of getting a patent and building patent portfolios, provides insurance for enforcement and defense of those patents, and can provide $2-5M loans using patents as collateral. You can read the BlueIron blog here. About Russ Krajec: Russ Krajec is a registered patent attorney who has been practicing for over 20 years, as well as a podcaster, blogger, and author. His book " Investing In Patents " describes the business criteria used to identify good inventions and good patents. Krajec is the host of the Patent Myths podcast, which looks at IP from a business standpoint. Contact Details Russ Krajec +1 970-776-4355 russ.krajec@blueironip.com Company Website https://blueironip.com

July 09, 2020 11:06 AM Mountain Daylight Time

Infrawear’s RxBra Introduces RxMask, Protective Face Mask Made of Fabric Interwoven with Far-Infrared Technology for Comfort, Protection and Skin Health Benefits

Infrawear LLC

Infrawear LLC, the health and wellness provider today announces the availability of RxBra’s new RxMask, a tubular seamless headband-styled protective face mask made from yarn embedded with biophotonic nano-technology that emits far-infrared rays. Far-infrared is a specific wavelength that has been shown to increase microcirculation and muscle oxygenation. Consequently, the mask is comfortable, antimicrobial, durable and anti-odor. The mask is made from the same fabric as Infrawear’s successful RxBra, which helps breast health immediately after surgery and for years to come because the technology will never wash out. The RxMask has the addition of AG+ yarn, a silver ion yarn technology with antimicrobial properties. The fibers in both the RxMask and RxBra modify visible and infrared light, recycling them into energy that the body can use more effectively. "There are many non-medical grade masks on the market, and we know that not all masks are created equal,” said Rachael McCrary, co-founder and President of Infrawear. “The RxMask helps eliminate bacteria growth and offers health and beauty benefits. Infrawear prides itself on being an agile, forward-thinking company. Once we realized that the same fabric and infrared technology that goes into the RxBra could be used for masks during the COVID-19 crisis and beyond, we knew that we could fulfill a need for those who realize the importance of wearing a protective mask and also want the health, beauty and anti-aging benefits.” When wearing the mask, consumers can easily pull down their mask and reposition it without needing to adjust the earholes, making it suitable for use during exercise, dance, and yoga. Available in black, cream, red and blue for the fashion-conscious wearer and are designed to become part of your daily wardrobe. The masks are also designed to have wellness properties. Most spas and tanning salons have infrared treatments and in the aftermath of COVID-19, many spas remain closed and consumers cannot receive these anti-aging skin treatments. The RxMask is engineered to improve skin appearance and reduce the risk of skin irritation, mask acne or ‘maskne’ caused by sweat, skin oils, and bacteria being trapped on the fabric or on the skin under the mask. The RxMask is available through RxBra.com and is priced at $USD 25.00. About Infrawear, LLC Infrawear, LLC is the go-to resource for medical professionals, hospitals and first responders for critical PPE and COVID-19 testing and antibody kits. We have a passion for innovation and an established track record for getting things done quickly and efficiently. As an FDA IV.D (4D) notify listed and registered Class 2 medical device importer, the company leverages its deep operational supply chain experience to source and import critical PPE and supplies such as N95 masks, gowns, testing kits and antibody tests. As the exclusive distributor and partner for Genesprint Group Ltd. Infrawear provides access to their sought after rapid COVID-19 tests, including NCOV-19 IGM/ IGG antibody test kit as well as its PCR Swab Test for COVID-19. Infrawear is also the parent company of RxBra, which manufactures proprietary vertical, and post-surgical garments to plastic surgeons. Our company is recommended by the American Hospital Association and is well-known for providing ease of access to high-demand supplies, putting them in the hands of those in need for today’s ever and rapidly-evolving medical demands. Infrawear LLC is a US-based company headquartered in Los Angeles, with offices in New York and Ohio. Learn more by visiting: Infrawear.com . Contact Details NRPR Group, Nicole Rodrigues +1 650-815-5069 nicole@nrprgroup.com Company Website https://www.infrawear.com/

July 09, 2020 06:00 AM Pacific Daylight Time

As COVID-19 Restrictions Lift Americans Return to Travel

YourUpdateTV

According to the U.S. Travel Association, more than two-thirds of consumers miss traveling and can’t wait to get out again, and one in four are already planning a future vacation. A video accompanying this announcement is available at: https://youtu.be/TsJdJ3quJLE Travelers will drive, rather than fly, and hence take shorter trips closer to home. Choice Hotels’ has nearly 6,000 franchised hotels across America conveniently located near drive-to destinations and therefore well-positioned to support the resurgence of the American road trip this summer. Americans will have different comfort levels when they first venture out in this new travel environment and will be looking for indications from restaurants, hotels and attractions that they are committed to prioritizing travelers’ health and safety. Choice’s Commitment to Clean initiative is designed to help give guests added peace of mind when booking a stay. Commitment to Clean is the company’s holistic approach to supplying hotel owners and their employees with the tools they need to help Choice-branded hotels worldwide achieve superior levels of cleanliness. As part of the initiative, every Choice-branded hotel is designating a “Commitment to Clean Captain,” each of whom is responsible for completing applicable best-in-class cleanliness training and communicating new protocols and best practices to the rest of each hotel’s staff. Travelers will be looking to make the most of their travel budgets. Choice Privileges, the company’s award-winning loyalty program, is currently offering a Stay Twice, Earn a Free Night promotion, designed to help guests maximize their travel budgets as they return to the open road. Choice Privileges also recently announced a series of enhancements that help provide members with the flexibility to use their benefits as soon as they are ready to travel. Updates include reducing the number of nights required to earn elite status; pausing the expiration of loyalty points until Dec. 31; and initiating upgrades, extensions and bonuses for current elite members. For more information on what Choice Hotels is doing to help travelers this summer, visit www.ChoiceHotels.com About Choice Hotels: Choice Hotels International, Inc. is one of the largest lodging franchisors in the world. With more than 7,100 hotels, representing over 590,000 rooms, in over 40 countries and territories as of March 31, 2020, the Choice® family of hotel brands provide business and leisure travelers with a range of high-quality lodging options from limited service to full-service hotels in the upscale, midscale, extended stay and economy segments. The award-winning Choice Privileges® loyalty program offers members benefits ranging from everyday rewards to exceptional experiences. For more information, visit www.ChoiceHotels.com . About YourUpdateTV: YourUpdateTV is a social media video portal for organizations to share their content. It includes separate channels for Health and Wellness, Lifestyle, Media and Entertainment, Money and Finance, Social Responsibility, Sports and Technology. Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

July 08, 2020 11:00 AM Eastern Daylight Time

Ergo21 Announces New Bicycle Seat Cushion Cover Provides Health Benefits and Comfort

Ergo21

Ergo21 today announced its new custom-made seat cushion cover is now available and ready to ship. The seat uses LiquiCell technology to reduce hot spots and improve blood flow. "If you want to ride forever without the butt burn, the Ergo21 Bicycle Seat Cushion is the perfect choice for regular and exercise bikes. The secret ingredient is the LiquiCell Membrane on top of an open cell foam and covered by a soft fabric"" explains Steve Gambhir, designer, and product specialist at Ergo21. Positive Customer Impact Ergo21 interviewed bicyclists, gym goers and spin enthusiasts and found most people were not happy with their seats. "We researched and evaluated the most popular brands and discovered they used molded foam, which is approximately 30% cheaper to manufacture since it simply requires some sewing. The trade-off is that it's closed-pore foam and it feels hard when you ride," said Gambhir. LiquiCell Blood Flow Technology Ergo21 sourced a custom density open cell foam from a local USA foundry designed to absorb road vibrations while not feeling hard on sitting bones. Custom made LiquiCell Membrane is then placed on top to protect sensitive skin tissues from breaking down while optimizing blood flow. "The biggest challenge we had since the foam was not molded is that it needed special manual double stitching. After several months of trying different stitching methods, we finally were able to come out with what we consider the Best Bicycle Seat Cushion out there! Better than a Gel bicycle seat cushion or foam bicycle seat cushion" said Gambhir. The seat is double-stitched, available in 2 sizes, fits almost any seat, slips on easily and enables cycling or stationary bikes enthusiasts to simply tighten the draw-cord and go. Founded in 2010, Ergo21 offers wide range of Seat Cushions designed for office, driving, home, wheelchairs, and travel. For more information on LiquiCell Blood Flow Technology: https://www.ergo21.com/bicycle-seat-cushion/ ### Ergo21 and LiquiCell are registered trademarks in the United States of the respective owners. Contact Details Steve Gambhir +1 949-975-8219 steve@ergo21.com Company Website https://www.ergo21.com/

July 08, 2020 07:00 AM Pacific Daylight Time

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EOS Labs Launches to Help Building Managers Optimize Utility Efficiency

EOS Labs

As a typical facility can waste 30 percent of the energy it consumes or more due to lack of optimization, EOS Labs , a leading utility financial intelligence and technology company, launched today to help building managers ensure facilities are operating at optimum levels. The demand for determining where buildings can cut energy costs has increased dramatically in recent months, due to the COVID-19 crisis and resulting financial downturn— and a spotlight has been placed on this issue as buildings were left partially empty for months and were not energy optimized. EOS Labs is uniquely positioned to solve this challenge and assist facility managers in delivering both immediate and long-term cost savings strategies. In addition to automating and centralizing utility data, EOS Labs’ Utility Financial Intelligence ( ) platform uses AI and advanced analytics to further analyze smart meter and interval utility data, define anomalies wasting energy and deliver actionable insights to support decisive action for facility managers across vertical industries. These financial insights are adjusted for weather, occupancy and specific building consumption variables, helping organizations to eliminate energy waste without costly building upgrades, as well as increase savings. The platform’s added value is providing intelligence powered decision center that host all data related to utilities and energy; such as, billing itemized data, weather, building and business operational data, and more. “Today, building managers across vertical markets are inundated with data and many technology tools available actually hurt operational efficiencies by raising unnecessary alarms that slow cost-saving decisions,” said Sal Alhelo, Founder and CEO. “Currently, when building managers receive an alarm or alert from their BMS or utility management software, those alarms are treated at the same level of urgency, which doesn’t allow for focusing on the alarms that have the most impact on an organization’s bottom line. This is a continual challenge for facilities managers and one we are looking forward to helping them solve.” How it Works With a focus on increasing efficiencies for facilities across Education, Healthcare, Banking, Hospitality, Retail, Fitness and other markets, EOS Labs takes the data points that directly impact a company’s bottom line and prioritizes those data points to determine which alarms require immediate action. Data collected by EOS Labs is presented to building facility managers via dashboards containing simplified and actionable financial insights and custom alerts. EOS Labs automates the majority of the analysis as well as the review process, providing customers with easy to digest insights built on the customer s’ priorities and goals. EOS Labs presents any alarming data enabling immediate action, providing how long an issue has been in effect and the associated costs. For buildings with existing IoT-enabled building management systems (BMS), UFIQ provides an added element of financial intelligence. To elevate the existing platform, UFIQ eliminates the critical and costly blind spot in energy management that typical fault detection algorithms might miss. “During emergencies like the COVID-19 pandemic, it is more important than ever to be able to quickly manage utilities effectively and oversee usage across facilities,” added Alhelo. “The extra layer of visibility ensures building managers can minimize energy consumption of assets.” UFIQ provides that visibility to the entire building's energy financial performance in alignment with the International Performance Measurement and Verification Protocol (IPMVP) and equips managers with the financially sound guidance they need to operate and adjust BMS to achieve optimal energy savings. Based in McKinney, Texas, EOS Labs’ Founder and CEO, Sal Alhelo, has nearly 15 years of experience in energy management, engineering, construction and building operations. He has significantly contributed to the design of multi-billion-dollar hotels and casinos in Las Vegas and several healthcare facilities in Texas, as well as managed facilities programs for a Fortune 500 company for more than six years. For more detail, please visit https://energyeos.com . EOS Labs is the utility financial intelligence and technology company behind UFIQTM – a platform that provides the financial intelligence necessary to ensure your building is operating at an optimal efficiency level. The company leverages proprietary AI and advanced analytics to analyze smart meter and interval data, define the anomalies wasting energy and deliver actionable insights to support decisive action for facility managers across vertical industries. The platform’s added value is providing an intelligence-powered decision center that hosts all data related to utilities and energy; such as, billing itemized data, weather, building and business operational data, and more. Contact Details Jennifer Mirabile +1 724-493-3027 eoslabs@trustrelations.agency Company Website http://energyeos.com/

July 08, 2020 08:05 AM Eastern Daylight Time

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