The “lease-back” structure is the same as almost all large Fortune 500 companies do with their patents: the patents are in a holding company but the operating company has full control of them.
You don’t purchase an office building when you need office space, do you? No. You lease space from a landlord. The landlord puts up the capital, furnishes the space, and provides all the amenities. Buying the office building outright is a waste of capital for a startup company. This is the same with BlueIron.
BlueIron does the patents on a “lease-back” arrangement. We build the patents to order, and you pay rent on them. You always have a buyout option that can be exercised at any time.