Craig P. Opperman

Patents shouldn't just hang around collecting dust.

"They should be designed, built and worked with as assets of a company," Opperman said. "Fortunately, we are entering a period where the corporate boardroom is realizing just that - good patents are valuable assets, not just obscure legal rights."

Case in point: When Kodak filed for bankruptcy in January, he led the legal team that worked on the $2.38 billion valuation of about 1,300 Kodak patent properties.

"We came up with a way of evaluating a number of things related to that portfolio - the scope, license agreements, potential agreements, litigations, weaknesses, strengths, and the team inside of Kodak," Opperman said. "A portfolio is an asset in the bankruptcy."

Among his other major matters, Opperman helped Friendster in the 2010 sale of its patent portfolio to Facebook - a $40 million deal; and served as chief architect of a patent portfolio that survived two lawsuits and was widely licensed to generate more than $75 million for Avistar Inc.

"When making patent sales, it's important to realize that patent value is determined by patent assets' relevance to the marketplace," Opperman said.

It all comes back to generating revenue for businesses.

"Shareholders are starting to pressure companies into monetizing their portfolios," Opperman said. "For the first time, people are starting to say, 'We've got an asset. What are we getting in return for it?'"

Companies can no longer afford to get "a bunch of cheap patents, and send money into a black hole," he said.

That's why Opperman is a big believer in what he calls "spring cleaning" a portfolio.

"When you clean out granny's house, they'll be a household of crap," he added, "but there also is going to be antiques in there."

- PAT BRODERICK

<!-- Craig P. Opperman -->