As a matter of background, InPhase was founded in 2000 as a Bell Labs spin out and filed for Chapter 11 bankruptcy protection in October, 2011.
Unedited press release follows:
INPHASE TECHNOLOGIES SHAREHOLDER RETAINS DRAKES BAY COMPANY TO MONETIZE PATENT PORTFOLIO
Large Holography Patent Portfolio To Be Monetized In Chapter 11 Restructuring
FOR RELEASE ON: Thursday, January 19, 2012
LONGMONT, CO – Signal Lake, majority shareholder in InPhase Technologies, the global leader in holographic digital storage, today announced that it has retained Drakes Bay Company LLC, an Intellectual Property (IP) brokerage firm, to sell or license its large IP portfolio. InPhase was founded in 2000 as a Bell Labs spin out and filed for Chapter 11 restructuring with the U.S. Bankruptcy Court in the District of Colorado in October, 2011.
InPhase owns a large IP portfolio related to holographic digital storage media, drives, and systems. The portfolio includes more than 200 U.S. and foreign patents and applications, benefits from early priority dates, and is cited by more than 650 patents in the U.S. Market applications for holography include security, displays, and storage, among others. Prior InPhase patent licensees include Hitachi Maxell, Bayer Material Sciences, and Nichia. InPhase joint ventures partners have included Bayer, Hitachi, and Nintendo.
“Signal Lake has retained Drakes Bay Company to monetize the InPhase Technologies IP portfolio because of their successful track record, broad network, and management expertise,” said Bart Stuck, managing director, Signal Lake. “We believe they will help us unlock the significant value that our portfolio has in holographic technology markets. “
“We are very pleased to be selected by InPhase shareholder Signal Lake to assist in this monetization process,” said Joseph W. Jennings, president, Drakes Bay Company LLC. “We will begin marketing the InPhase patents in February, 2012.”
About Drakes Bay Company LLC
Drakes Bay Company LLC is an Intellectual Property brokerage firm that serves the IP defense and cash generation needs of operating companies, funds and inventors. Drakes Bay Company was founded by Joseph W. Jennings in 2005 and provides sell- and buy-side services.
Mr. Jennings is a member of the Licensing Executives Society and a member of the Intellectual Asset Management 250 World’s Leading IP Strategists since 2009. The company is based in Larkspur, CA with website www.drakesbaycompany.com.
About InPhase Technologies
InPhase Technologies is the leading developer of holographic data storage recording media and systems. The management team includes CEO Art Rancis; executive vice president of engineering James Russo, and vice president U.S. customer development Bland McCartha. Based in Longmont, Colorado, InPhase was founded in 2000 and filed for Chapter 11 with the U.S. Bankruptcy Court in the District of Colorado in 2011.
The company was a spinout of Bell Laboratories in December, 2000 by Signal Lake and Lucent New Ventures Group. The company had raised more than $100 million in capital and produced the world’s first working holographic storage system, winning numerous industry accolades and awards. For more information, please visit the website at www.inphase-tech.com.