Russ Krajec is an author, blogger, patent attorney, and CEO of BlueIron, patent finance company. He speaks widely on IP strategy, ever mindful that 95% of all patents are worthless.
Russ Krajec is an author, inventor, angel investor, podcast host, and patent attorney who believes the patent system does not serve startups well: “Don’t ask the barber if you need a haircut.” Russ believes that you can find good ideas and curate valuable patent assets, even though 95% of all patents are worthless.
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.
Russ’s books “Investing In Patents” and the soon-to-be-released “Startup IP Strategy” describe the systematic process for due diligence on inventions, as well as a comprehensive framework for a startup’s IP strategy. The podcast “Patent Myths” tackles many complex IP issues, simplifying them into meaningful strategies for today’s entrepreneurs.
This is a message of hope and encouragement. Armed with a few simple tools, entrepreneurs can build their businesses with the comfort that they have a good strategy in hand.
Russ has bachelor’s and master’s degrees in mechanical engineering from Rensselaer Polytechnic Institute, as well as a JD from Denver University.
“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.
“Startup IP Strategy,” to be released in early 2020, is for the entrepreneur and inventor. The focus is on actionable strategies so that entrepreneurs can make good, solid business decisions about their IP – not a comprehensive treatise on an overwhelming number of options.
“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. The second season includes interviews of IP experts, from patent insurance underwriters to patent brokers. The second season include “IP makeovers” where Russ helps a startup build an IP strategy and a framework for decision making going forward.
Russ Krajec, CEO
1635 Foxtrail Drive, Ste 321
Loveland, Colorado 80538
LinkedIn Profile: https://www.linkedin.com/in/krajec/
Russ Krajec is the author of “Investing In Patents: Everything a Startup Investor Needs to Know About Patents.” His company, BlueIron IP, invests in startup companies to finance their patents, provide insurance for patents, and underwrites loans using patents as collateral. He approaches IP in a much different way than conventional patent attorneys. Through his books, blogging, and his podcast “Patent Myths,” he challenges conventional wisdom about IP and develops simple patent strategies for startup companies.
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?