Russ Krajec is a “recovering patent attorney” who believes IP can be used as a financial instrument. He is the author of “Investing in Patents,” one of IAM’s Top 300 Patent Strategists, and the CEO of BlueIron, which finances patent portfolios, insures IP for enforcement and defense, and provides loans using IP as collateral.
Russ Krajec is a “recovering patent attorney” who is passionate about helping patent owners protect their assets. He is the author of “Investing in Patents” and one of IAM’s Top 300 Patent Strategists. As CEO of BlueIron, Russ insures IP portfolios for enforcement and defense, finances the cost of patent portfolios, and provides loans using IP as collateral.
Russ has written nearly 1,000 patents for companies ranging from the Fortune 10 to startups, as well as COO and Chief IP Counsel of a venture backed startup. His company, BlueIron, specializes in IP insurance and IP-related financing so that companies have the tools to enforce their IP against infringers, as well as financing to build their businesses.
Business owners spend countless hours of work on their ideas and have invested thousands in securing a patent to protect it. But what happens when a bigger competitor starts copying their patented product?
Even “minor” patent lawsuits cost startups hundreds of thousands of dollars, but if they don’t defend themselves, their IP is worthless.
Russ and BlueIron insure against infringement/theft/copying of intellectual property, giving patent holders the resources to enforce their IP against competitors, former employees, or other actors.
Russ has bachelor’s and master’s degrees in mechanical engineering from Rensselaer Polytechnic Institute, and a JD from Denver University.
BlueIron IP finances patents, insures patents, and loans money using patents as collateral. In every case, we need valuable and enforceable patents, and there is as much science as art in building these types of assets. We have skin in the game, so our key differentiator is our due diligence and background work before filing a patent.
“Investing In Patents” is Russ Krajec’s first book, focused on the due diligence that angel investors need to know. Patents are put into a business context, and a ten-point checklist helps investors understand an investment opportunity and identify when the IP might take on a valuable role in a portfolio company. https://investinginpatents.com.
“Patent Myths” tries to simplify complex IP issues into actionable strategies. The first season is a 12 episode dissection of many myths propagated by patent attorneys – much to the detriment of their startup clients.
Russ Krajec, CEO
1635 Foxtrail Drive, Ste 321
Loveland, Colorado 80538
LinkedIn Profile: https://www.linkedin.com/in/krajec/
Twitter: @russkrajec, @blueiron
Website for BlueIron: https://blueironip.com
Website for Krajec Patent Offices: https://krajec.com
Russ Krajec (“KRAY-jack”) is a “recovering patent attorney” who specializes in insuring patents and using IP to finance a company. He is the author of Investing in Patents and one of IAM’s Top 300 Patent Strategists. As CEO of BlueIron, he finances the cost of patent portfolios, insures IP portfolios for enforcement and defense, and provides loans using IP as collateral. He is a practicing patent attorney as well as a wholesale and retail insurance broker, specializing in intellectual property insurance. Welcome to the show, Russ!
Possible Interview Questions:
What mistakes do you see startup entrepreneurs make when it comes to their IP?
What makes a patent good or bad? How do you tell a good patent from a bad one?
Why did you get into patent law? What was your entrepreneur’s journey?
In your book, you talk about the conflict of interest between the client and the attorney. I think you put it like: “Don’t ask the barber if you need a haircut.” Explain what you mean by that.
Your podcast, blog posts, and your book talk a lot about the difference between inhouse and outside patent counsel, and the tension between them. What does that tension look like? Why is this a problem?
Your business is to finance patents for startup companies. I have never heard of anyone doing this. What do you mean that you “finance patents?”
Patent insurance is interesting, but I have never heard about this. Does it help me enforce my patents? How does it work?
Lots of inventors just want to license their technology to some big company. Is this a realistic business plan?
Angel investors always ask if a company has a patent, but are they missing something? What do you wish they were asking as follow up questions?
If a startup is just getting going, what strategies should they consider for their IP? Should they get a patent first, before they do anything else?
Tell me about some successes when a company had patent insurance? Any failures when the didn’t?
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Recent podcast interviews:
Suncast Podcast, April 27, 2021 365 – Common Intellectual Property Mistakes You Can Avoid, With Russ Krajec, Patent Attorney With BlueIron IP
Pass the Secret Sauce, 14 Dec 2021 – Using IP as collateral for your business.
Spot On Insurance Podcast – Episode 231