|By Marketwire .||
|February 6, 2013 06:00 AM EST||
LOS ANGELES, CA -- (Marketwire) -- 02/06/13 -- Hanover Portfolio Acquisitions (OTCQB: HVPA), an intellectual property investment and monetization firm, announced today that it is actively in talks with a number of intellectual property (IP) owners to maximize the value of their patents and patent-protected technologies through licensing, commercialization and/or acquisition.
"The reality in IP today is that a vast majority of patent owners are not getting paid for their assets. Hanover is set to change that to the benefit of those patent holders and our shareholders," stated Hanover Chairman and CEO, Alan Collier. "Furthermore, patent owners who are collecting royalties or generating revenues based upon commercialized products and services are not maximizing the value of their intellectual property assets. Hanover brings its IP, commercialization, and business funding expertise to the fore to partner with patent holders and monetize assets."
According to data published on the World Intellectual Property Organization (WIPO) site, only 3% of patents become royalty-generating assets. Royalties are under-collected by 25% or more. According to Intellectual Ventures, large corporations are most effectively monetizing assets, while small companies, individual inventors, universities and R&D labs are not. Hanover seeks to bridge the gap between patent ownership and patent monetization for this latter group that has not traditionally maximized its assets.
While 60% of patents are owned by small companies, individual inventors, universities and R&D labs, these groups are collectively only receiving 1% of the revenues generated through IP. Large corporations, which own 40% of patents, are receiving 99% of the revenues generated through IP.
"Based upon these numbers, the opportunity for Hanover is very clear. These dormant patents represent a significant reservoir of technologies that may be commercialized by other parties either through licensing or the sale of these patents," concluded Collier.
In addition to being in talks with several patent owners regarding new IP licensing and acquisition deals, Hanover currently has three technology licensing, distribution and commercialization agreements in place for:
- Proprietary Stem Cell Technology Addressing $3.8 Billion Market
IP Resources has an exclusive license agreement with American Cryostem Corp. to sub-license the rights and to distribute certain stem cell-related IP in China and Brazil. According to BCC Research the global market for stem cell products was $3.8 billion in 2011. This market is expected to reach nearly $4.3 billion in 2012 and $6.6 billion by 2016, increasing at a compound annual growth rate (CAGR) of 11.7% from 2011 to 2016.
- Global CPR-Aid Medical Device Market
The Company has an exclusive license agreement with CPAIR, Inc. ("CPaiR") to sub-license, market and distribute certain intellectual property on a worldwide basis outside of the United States. CPaiR is a device that enables anyone to administer CPR safely and effectively. The device addresses the entire global market for CPR training and associated devices. The American Heart Association states that 88% of cardiac arrests in the U.S. happen at home and if a person is called on to administer CPR in an emergency, the life saved is likely to be someone at home: a child, a spouse, a parent or a friend. CPaiR is designed for use at home, schools, retail and restaurant locations by anyone in an emergency situation. It may also be used by emergency medical professionals in ambulances and other medical settings.
- $13.2 Billion 3D Display Market
IP Resources has a licensing and distribution agreement with Xtreme Electronics Systems, Inc. to market, sell, and to distribute certain intellectual property in certain territories. This agreement also covers IP Resources' exclusive rights to sell and market XES' 3D hardware and software to Microsoft Corporation or its affiliates. According to research firm NPD Display Search, the 3D display market is set to grow from $13.2 billion in revenue in 2011 to $67 billion in revenue in 2019 worldwide.
About Hanover Portfolio Acquisitions
Hanover Portfolio Acquisitions, Inc., (OTCQB: HVPA) is an intellectual property investment and monetization firm focused on creating shareholder value through joint ventures, licensing and direct investments in innovation. Hanover specializes in the commercialization of healthcare, energy, consumer electronics, and internet/mobile related technologies. The Company commercializes intellectual property in the United States and territories including Brazil, Russia, India, China and the European Union. Hanover's goal is to maximize the value of intellectual property by turning patents into royalty-generating assets and shortening the time to market for innovative technologies and products in new markets. www.hanoverpai.com
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.