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is a student at Chalmers University of Technology where she is pursuing a master’s degree in entrepreneurship and business design, with a major in Corporate Entrepreneurship. Cecilia is currently an IP/Business analyst intern at Richardson Oliver Insights. She has a BSc in Industrial Engineering and Management with a mechanics specialization. Cecilia also has worked at PARC, and Karmalicious AB, a company focused on increasing food industry profits and reducing food waste. She currently has a prototype developed with students at Rice University and NASA, now being tested in HSB Living Lab. You can contact Cecilia via email at firstname.lastname@example.org.
Occasionally, we hear people say, “brokered patents are all junk.” This begs the question, “are operating companies and non-practicing entities (NPEs) spending hundreds of millions of dollars buying junk patents?” Luckily, the short answer is no. We know clients have successfully bought and used brokered patents to substantially alter their licensing and litigation posture at a lower cost than the alternatives. We also know that patents on the brokered market rank higher than average patents. So why this disconnect? We are victims of our own cognitive biases and the behavioral economic traps that make it harder for buyers to find and buy patents… When only a small fraction of what we are looking at is ultimately interesting to us, our brains can trick us. Using a structured decision-making process together with some tools can overcome those biases and allow us to identify and buy the patents that fit our business needs.