While we had a high regard for our intellectual property, my company could have saved a lot of money and improved our management of IP and related commitments using Decipher. Most companies are still just using spreadsheets, or other suboptimal methods to manage their IP, and have little idea how much exposure and opportunity they have.
Portland, OR (PRWEB) October 30, 2006
Innovation Asset Group (http://www.innovation-asset.com), a leading provider of web-based enterprise applications for improving the management of intellectual assets & contracts, today announced that it has closed its first round of funding raising $2.8 million from a group of prominent angel investors. Innovation Asset’s flagship product, Decipher™, enables companies to maximize the value of their intellectual property (IP), reduce risks and expenses, and optimize regulatory compliance.
“I’m very excited about this company and Decipher,” said Don Vanluvanee, former CEO of Electro Scientific Industries (NASDAQ: ESIO) and an Innovation Asset investor and Board member. “While we had a high regard for our intellectual property, my company could have saved a lot of money and improved our management of IP and related commitments using Decipher. Most companies are still just using spreadsheets, or other suboptimal methods to manage their IP, and have little idea how much exposure and opportunity they have.”
The proceeds of this round will enable Innovation Asset to advance product engineering and marketing of the Decipher enterprise application and associated professional services to expand its penetration into the Global 2,000. Decipher is used today by major corporations spanning industries that include life sciences, health care, technology, and consumer goods. The platform takes them to a new level of intangible asset management, helping to ensure that ideas are properly disclosed internally, IP is properly tracked and monitored throughout the organization, and royalties, filings, expirations and other key commitments are not missed.
“This was a very successful funding round for us,” said Peter Ackerman, president and CEO of Innovation Asset. “Since launching Decipher in 2005, we have seen exceptional customer traction while developing an international reputation in our markets. IP diligence is critical on many levels in an information-driven economy. We will continue to extend Decipher responsive to market demand including the additions of rich content, analytic, and valuation capabilities.”
About Innovation Asset Group
Innovation Asset empowers companies to reveal hidden value by controlling their intellectual assets, key contracts and commitments. Founded in 2002, the core team consists of experts in law, IP valuation, finance, and technology. PriceWaterhouseCoopers estimates that by 2007, as much as 90% of the value of the world’s top 2,000 enterprises will consist of intellectual property. Few companies have effective systems in place to maximize the commercial potential of their patents, trademarks, copyrights, and trade secrets and control their contracts and agreements. The company’s flagship product, Decipher, is a web-based solution for managing IP and contracts with advanced visualization, tracking, monitoring, and security capabilities. For the latest news and information about the company, visit http://www.innovation-asset.com.
Decipher is a trademark of Innovation Asset Group, Inc. All other trademarks are property of their respective owners. © 2006 Innovation Asset Group, Inc. All rights reserved.
Media and Analyst Contact:
Shayla B. Sharp
Innovation Asset Group, Inc.
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