TIDMJIL
RNS Number : 1613O
Juridica Investments Limited
17 September 2013
Juridica Investments Limited
('Juridica' or the 'Company')
Juridica acquires US$2 million strategic stake in ipCreate,
Inc.
Partnership enables innovative approach to patent and
Intellectual Property monetisation; enhances Patent portfolio and
selection process for new opportunities
Juridica Investments Limited, a leading provider of strategic
capital for corporate legal claims to both businesses and the legal
markets, has formed a strategic partnership with ipCreate, Inc.
("ipCreate") a leading intellectual property creation, acquisition
and development company. As part of the agreement the Company has
supported ipCreate's US$7.5 million fundraising by acquiring one
million Series B Convertible Preferred shares in ipCreate for a
total consideration of US$2 million.
The power of ipCreate's business model lays in its ability to
provide patent holders with a diverse spectrum of monetisation
options. ipCreate can increase the value of their clients'
portfolios by developing and acquiring strategically complementary
patents. ipCreate will also generate new intellectual property
("IP"), acquire and further enhance foundational IP into focused
portfolios for sale, license, litigation or spin-off. In addition,
ipCreate identifies, acquires and develops IP to serve the needs of
large corporations, working with ipCapital Group, an affiliate of
ipCreate. Like Juridica, ipCreate's clients are Fortune 500
companies and the advisory businesses that serve them.
The benefits to the Company, beyond the potential financial
returns on its investment, will be access to ipCreate and the
ipCapital group of companies and their market leading tools for
enhancing the Company's current and future patent and IP
investments. These benefits include:
-- Improved valuation methodologies of current investments
beyond legal arguments, adding market knowledge, technology
business value and relationships with potential buyers, licenses
and defendants;
-- Enhancement of the Company's investment selection process by
adding a business and technology context to the existing legal
context; and
-- ipCreate and the ipCapital group of companies can provide
additional pipelines of patent holders and law firms interested in
accessing capital for corporate legal claims
ipCreate is led by John Cronin, Chairman, President and Chief
Executive Officer. Mr. Cronin is also the Managing Director and
Chairman of ipCapital Group, Inc. ("ipCG"), an intellectual
property consulting firm he founded in 1998. ipCreate's team
includes some of the world's most experienced IP professionals,
scientists, engineers, lawyers and corporate finance personnel. Its
General Counsel, Martha Ries, has 25 years' experience, most
recently at Boeing where she was responsible for IP management. In
addition, the company's board includes Marshall Phelps, Jr., a
recognised expert in the field of IP management and monetisation,
who previously managed Microsoft's IP portfolio. More information
on Mr. Cronin, Ms. Ries and Mr Phelps can be found in the notes to
this announcement.
Commenting on the investment, Lord Dan Brennan, Chairman of the
Board of Juridica Investments Limited, said: "This investment by
JIL marks a new and constructive approach in the IP sector which
should make for innovative and beneficial results. This partnership
with ipCreate is a strong adjunct to JIL's core business model and
aligns well with the future of IP where the de novo creation of
strategically valuable patents can transform purely legal processes
into profitable business discussions. "
Also commenting on the investment, Richard Fields, Chief
Executive Officer of Juridica Capital Management Limited, said:
"Given Juridica's focus in monetizing litigation-related assets for
major companies, IP acquisition and the associated creation and
licensing opportunities surrounding patents present important
investment opportunities for Juridica which complement the
Company's existing business model. The strategic stake in ipCreate
will expand our relationships with Fortune 500 companies that want
to monetize patent portfolios and enhance our ability to deploy
capital into the IP market. We also believe this relationship with
the deep team of talented IP professionals at ipCreate will enhance
our ability to realise those investments in a shorter time-span
with increased returns."
Commenting on the strategic investment and partnership with
Juridica, John Cronin, Chairman and Chief Executive Officer of
ipCreate, said: "We are excited to have found such a strong
strategic partner and investor in Juridica. By forming this
partnership we have created a truly complete IP offering that can
benefit the whole IP community, from inventors to Fortune 500
companies. For the portfolios we work on we can bring an
understanding of the complete spectrum of opportunities beyond
litigation. This is a truly unique partnership which positions
Juridica at the forefront of the intellectual property
industry."
- Ends -
This document contains forward looking statements, which are
based on Juridica Capital Management Limited's (JCML) current
expectations and assumptions and involve known and unknown risks
and uncertainties that could cause actual results, performance or
events to differ materially from those expressed or implied in such
statements. It is believed that the expectations reflected in these
statements are reasonable, but they may be affected by a number of
variables which could cause actual results or trends to differ
materially. Each forward looking statement speaks only as of the
date of this announcement. Except as required by the AIM Rules, the
London Stock Exchange or otherwise by law, the Company expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward looking statements contained
herein to reflect any change in the Company's or JCML's
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is
based.
For further information contact:
Juridica Capital Management
Limited
Richard W. Fields +1 (866) 443 1080
Cenkos Securities PLC
(Nominated Adviser and Broker)
Nicholas Wells
Camilla Hume +44 (0) 20 7397 8900
Investec Bank PLC
(Joint Broker)
Tim Mitchell +44 (0)20 7597 4000
Peel Hunt LLP
(Joint Broker)
Guy Wiehahn +44 (0)20 7418 8900
Bell Pottinger - Pelham
Olly Scott +44 (0) 20 7861 3232
About Juridica Investments Limited
Juridica Investments is a leading provider of strategic capital
to the business community and the legal markets for corporate
claims. It invests directly and indirectly in a diversified
portfolio of corporate claims in litigation and arbitration.
Juridica is one of the premier sources of value-added and direct
financing for large business claims in the United States and one of
the leading sources in the United Kingdom.
Our clients are Fortune 1000 companies, FT Global 500 companies,
inventors, major universities, and the leading law firms that
represent them. The Company only accepts cases that have already
been carefully vetted and undertaken by leading lawyers.
Juridica works to make the legal system work better for business
claims. It does not invest in speculative claims or claims that do
not demonstrate economic value and clear merits. Juridica invests
only in business claims, and does not invest in class actions,
personal injury, product liability, or mass tort claims.
Our goal is to provide business clients with financial choices
that reduce risk and assist in maximising claim value.
Juridica was established on 21 December 2007 as a limited
liability, closed-ended investment company registered in Guernsey.
It has over US$200 million of assets under management. It was the
pioneer in alternative litigation financing and the first
closed-end fund of its kind ever listed on AIM, a market operated
by the London Stock Exchange (AIM: JIL.L).
The Company has appointed Juridica Capital Management Limited as
its exclusive investment manager to locate, evaluate and manage
direct and indirect investments in cases, claims and disputes.
http://www.juridicainvestments.com
About the ipCreate team
John Cronin, Chairman, President and Chief Executive Officer
Prior to forming ipCG, Mr. Cronin spent over 17 years at IBM and
became its top inventor with over 100 patents and 150 patent
publications. He created and ran the IBM Patent Factory, which
enabled IBM to hold more US patents than any other US company; and
contributed to the start-up and success of IBM's licensing
programme. Mr. Cronin and his team helped facilitate one of the
largest increases in patent growth in US corporate history. The IBM
Patent Factory added on average 800 original patents annually to
IBM's portfolio and helped to increase IBM's annual IP licensing
income from US$20 million to over US$1 billion.
Mr. Cronin has worked with over 700 companies and more than 10%
of the Fortune 500. Over the years he has become a respected
thought leader among executives who wish to align business issues
with IP to create actionable financial results. Through his career
Mr. Cronin has inspired and trained thousands of engineers and
scientists in the best practices of how to invent.
Martha Ries, General Counsel and Chief Compliance Officer
Ms. Ries has over 25 years of legal and compliance experience in
federal and state government, law firm and corporate settings.
Prior to joining ipCreate, she held a number of management
positions at The Boeing Company, most recently from 2007 to 2012 as
Vice President of Intellectual Property Management, managing an
organisation of over 140 IP professionals. From 2004 to 2007 she
served as Vice President of Ethics and Business Conduct; and from
1997 to 2004 as divisional Chief Counsel and Corporate Counsel.
During her tenure as Boeing's enterprise IP functional leader,
Ms. Ries managed the creation and maintenance of Boeing's global
patent portfolio (which was recognised as the best in US aerospace
and defence during her tenure) and instituted greater IP process
discipline, training, compliance and enforcement to protect
Boeing's IP.
From 1990 to 1997, Ms. Ries was a partner and associate at the
law firm of Bogle & Gates and from 1987 to 1990 she was a trial
attorney for the US Department of Justice.
Marshall Phelps, Jr. Non-executive Director
Mr. Phelps spent many years at Microsoft and was responsible for
worldwide management of the company's intellectual property
portfolio, patent prosecution, licensing, standards and business
development. He facilitated Microsoft's emergence as one of the
world's largest IP companies with over 60,000 patents and
applications, extensive copyright holdings and numerous trademarks.
Mr. Phelps joined Microsoft following a 28 year career at IBM
Corp., where he served as Vice President in the 1990s and was
responsible for overseeing standards, telecommunications policy,
industry relations, licensing, intellectual property law and
management of a worldwide intellectual property portfolio of more
than 35,000 patents and 8,500 trademarks.
By pursuing license agreements for these and other IP rights,
such as trade secrets and copyrights, he transformed a function
that traditionally produced costly overhead into a US$2 billion
annual profit centre. He is a recognised expert on the management
and monetisation of intellectual and intangible assets,
entrepreneurship and innovation.
In 2006 he was elected to the initial class of the Intellectual
Property Hall of Fame.
About ipCapital Group, Inc.
Under Mr. Cronin's leadership, ipCG operates the world's largest
IP strategy consulting team. The company has created its unique
ipCapital System(R) Methodology for consulting, capitalising on Mr.
Cronin's lifelong study of creative and inventive thinking
processes, business strategy development and transaction
negotiations. ipCG has also developed a world class licensing and
transaction process. The ipCapital System Methodology provides for
extraction and documentation of inventions, identifies opportunity
and risk, drives transactions to completion and creates significant
market value from IP.
http://www.ipcg.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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