What is included in a patent loan?
A patent loan will come with several other components, including insurance for patent enforcement and patent defense. Because a patent loan is specifically designed to help you expand your business, we want you to focus on generating revenue, not litigation. Therefore, we give you at least $2,000,000 in patent enforcement insurance and patent defense insurance.…Read More
What are the requirements for a patent loan?
The patent loan program requires several items about your patents and your business plan. This is not a complete list. 100% ownership of your patents. Your patents must be completely unencumbered and must be owned by the operating company. Some investors will attach liens to intellectual property, which is a non-starter. In many cases, the…Read More
How does the patent loan program work?
We provide an insurance policy that will guarantee a lender (typically a bank) using the patents as collateral. The Collateral Protection Insurance product is similar to mortgage insurance, where the bank has protection if there is a default on the loan. The CPI product requires investment-grade patents and a solid business plan. The patents must…Read More
What risk is BlueIron taking when financing a patent?
BlueIron is taking several risks when financing a patent. BlueIron is taking the risk that the patent will even issue. BlueIron is making an investment in researching the invention, writing the patent, and getting the patent through the patent office. If BlueIron fails to get a patent, you can walk away from the deal at…Read More
How long does it take to get a patent?
BlueIron can get a US patent as quickly as six months or less in some cases. However, many times it takes 3 to 5 years. How do we do it? BlueIron’s founder, Russ Krajec, had the opportunity to join a startup company where we needed patent assets as fast as possible. In that startup, he…Read More
Who controls my patents when they are financed?
You have full control of your patents while BlueIron finances them. However, just like having a landlord for your office space, BlueIron “owns” the patents. There is a difference between control and “ownership.” BlueIron “owns” the patents, but you control them. Having control of the patents means that you get all the benefits of owning…Read More
Who is the insurance carrier for patent insurance?
We offer a wide range of patent enforcement and patent defense insurance, however, our main insurance provider is a program manager for a Lloyd’s of London syndicate that focuses on intellectual property insurance.Read More
Can I use my own attorneys under patent enforcement or patent defense insurance?
Absolutely. We know you have good relationships with your attorneys, and we are happy that you want to use them. Our only requirement is that the attorneys have prior first-chair experience in intellectual property litigation in federal court. If your attorney does not have this experience, we are happy to recommend attorneys who do. We…Read More
Who controls enforcement of my patent?
With our patent enforcement insurance policies YOU control all aspects of how to enforce your patent. Sometimes you may wish to strongly enforce their patent to prevent a specific competitor from operating in your space. Other times, you may want to obtain a license agreement from a competitor. Still other times, you may want to…Read More
What does patent insurance cost?
Patent insurance comes in two basic forms: patent enforcement and patent defense. Enforcement is where someone infringes your patent and you need to enforce your rights. Defense is when someone else accuses you of infringing their patents. This can be a competitor or a patent troll. Enforcement insurance typically costs about 1-1.5% per year of…Read More