Wednesday, January 7, 2015

Commercialization part 3

Very quick response:

Re:  The Commercialization of the “Dynamic Foot Repositioning Systems Commercialization”
Dear Peter,

I look forward to speaking with you and learning more about the “Dynamic Foot Repositioning Systems Commercialization”.    That video looked fantastic!

If you are looking into getting your patent commercialized I would like to make a presentation to our Executive Management Team.  This presentation would ultimately lead to a full evaluation, including a market assessment and valuation.  Upon completion of our comprehensive review, a final determination is made of BankonIP’s interest and level of investment capital available for your project.  We do not charge a fee for this review and valuation, however please know that we select a limited number of patents each quarter and the IP must meet our initial investment criteria to be considered.

Once the evaluation process is complete, you will be notified if funding is approved and available from our firm.  With over 90% of our business being contingency based today, it is important to know that our goal is to establish a long-term relationship with you.  We do this by adding outstanding patents with excellent potential to our portfolio.  By taking a vested interest in your project, our compensation is then based on a percentage of the revenues you collect (which eliminates your personal risk and requires little investment). 

Our partnership approach with patent holders will also allow you to be a part of our team during the launch of an aggressive marketing campaign.  We have developed many successful techniques and strategies over the years, and as our partner you will enjoy the benefits from these proprietary services:  market research, written prospectus, financial pro formas, media kits, trade shows, due diligence, contract negotiations, account management, audits, infringement enforcement resources, and legal/litigation resources. 

As you can see, BankonIP is a good choice when looking for a partner to broker and/or manage your IP Assets.  Another great benefit of our team is the vast amount of contacts we have amassed over the many years of working exclusively with intellectual property.  We are well connected with many Licensees,Investors, and Buyers of intellectual property.  Thus the creation of “LIBSoft”, our proprietary database and software that includes nearly 500,000 manufacturers, all headquartered in the United States looking for new product development opportunities.

It is important to know who to talk with when contacting companies, but invaluable to have longstanding relationships and an understanding of what will drive them to pursue negotiations with you.  We utilize a comprehensive three-step process to qualify potential candidates.  Upon meeting our select criteria, we will communicate with each of our contacts and begin negotiations for a mutually beneficial agreement to get the “Dynamic Foot Repositioning Systems Commercialization” to market.

As a full service agency, BankonIP manages the entire commercialization process for our client/partners, including the ongoing asset tracking and account management with each company (license agreement).  If the “Dynamic Foot Repositioning Systems Commercialization” is approved, we will agree to cover at least 50% of the expenses directly associated with the marketing of your project and be compensated with a 15% - 25% share of royalties/revenues collected:

Revenue Sharing Model Example:
            First year payments due for the use rights of your patent = $100,000
                        (Through a license agreement with a 20% commission)

                        You receive -                           $80,000
                        BankonIP Commission -         $20,000 (based on a 20% fee)

Attached please find a questionnaire that will assist in our evaluation process and help us determine if you qualify for a marketing partnership and potential funding.

If you have an interest in working with BankonIP, please complete the questionnaire and return it to my attention with any additional information you feel would be beneficial in our review (brochure, video, sample/prototype if available, business plan, etc.).  Upon receipt, I will make a presentation to our Executive Management Team and they will complete a market assessment for our Board’s consideration and approval. Remember we do not charge a fee for our review and there is absolutely no obligation on your part for us to complete this evaluation.

I’m very excited about the potential for the “Dynamic Foot Repositioning Systems Commercialization” and look forward to working with you.  Keep in mind we have a couple of companies interested in reviewing the patent, so please return the questionnaire right away for our consideration.  

There are many choices when looking to commercialize your IP:  First is choosing the right path or “exit strategy”.  Second is selecting the right partner to navigate this complex journey.  By partnering with BankonIP, we can greatly increase your chances for financial success and eliminate the loss of valuable time.

Best regards,

Amy Schleicher
Director of Business Development


BOOM! And just like that, they lost my business. Lying to me and using a poorly modified form letter. It all adds up to a waste of my time and a lesson learned. At this point, I highly suspect they do not have my best interests in mind, if you know what I mean...

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