Innovation Asset Group and the Licensing Executives Society (LES) Announce Formation of Regional Chapter

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Shawn Pilkington, Innovation Asset VP, will head the newly formed Oregon/SW Washington Chapter as acting chair.

Innovation Asset Group, a leading provider of web-based enterprise applications for improving the management of intellectual assets & contracts, and the Licensing Executives Society (LES) today announced that Shawn Pilkington, Innovation Asset VP, will head the newly formed Oregon/SW Washington Chapter as acting chair. LES is a professional society comprising intellectual property licensing executives with worldwide membership of over 12,000 and over 30 local chapters throughout the U.S. and Canada.

"This chapter will benefit everyone involved in the research, development, manufacture, use, licensing, marketing, and management of intellectual property assets," said Pilkington, VP of Business Development for Innovation Asset. "The Oregon/SW Washington chapter of LES will create a vibrant and interactive community for all interested parties." The inaugural meeting is scheduled for November 16, 2006 in Portland, Oregon at the offices of CH2M Hill, 2020 SW Fourth Avenue, Parkside Center.

"One of the objectives of the Licensing Executives Society (LES) is to extend its membership through activities initiated at the local levels by its members," said William Fields, Trustee, Local Chapters, USA - Western Region for LES. "Through the hard work and initiative of one of its members, Shawn Pilkington, we are pleased and excited to announce formation of the Oregon Chapter. This promises to provide an innovative and outstanding forum for licensing executives and other interested parties in Oregon and SW Washington, and it has the full backing of LES and its Board of Trustees."

Russell Parr, President of Intellectual Property Research Associates, Inc. (IPRA) and a widely published author and world-known expert in the field of intellectual property valuation, will be the keynote speaker. "We are incredibly privileged to have such a renowned thought leader in this field speak at our inaugural event," said Pilkington.

"The Oregon and SW Washington region is filled with creative thinkers and entrepreneurial spirit; The Licensing Executives Society is an organization on the forefront of bringing people together who are interested in the commercialization of ideas; and Shawn Pilkington is a leader in the business of intellectual property," said Peter Ackerman, President and CEO of Innovation Asset Group. "I am thrilled by the convergence of such excellence in the formation of this local Chapter of the LES. Benefits will ripple through this area that we probably cannot even anticipate yet."

Pilkington joined Innovation Asset in 2003 and is responsible for all strategic accounts and partnerships. Previously he was the Manager of Technical Services and Sales for The Invention Machine, a Boston-based software company specializing in process innovation and intellectual property assessment tools for corporate R&D, engineering, M&A groups, and intellectual property law firms.

For questions and information regarding the Oregon/SW Washington LES Chapter, contact Shawn Pilkington, Oregon Chapter Chair at spilkington @ innovation-asset.com or call 503-783-2377.

About Innovation Asset Group

Innovation Asset empowers companies to reveal hidden value by optimizing their intellectual assets, key contracts, and commitments. Founded in 2002, the core team consists of experts in law, IP valuation, finance, and technology. 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. Innovation Asset was formed to address this problem. The company's flagship product, Decipherâ„¢, is a web-based application suite 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.

About the Licensing Executives Society

Established in 1965, the Licensing Executives Society (U.S.A. and Canada), Inc. (LES) is a professional society comprised of over 6,000 members engaged in the transfer, use, development, manufacture and marketing of intellectual property. The LES membership includes a wide range of professionals, including business executives, lawyers, licensing consultants, engineers, academicians, scientists and government officials. Many large corporations, professional firms, and universities comprise the Society's membership. Licensing Executives Society (U.S.A. and Canada), Inc. is a member society of the Licensing Executives Society International, Inc. (LESI), with a worldwide membership of over 12,000 members in 30 national societies, representing over 80 countries. For more information on LES, please see our website at http://www.usa-canada.les.org/aboutus.

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 Contacts:

Innovation Asset Group, Inc.     

Shayla B. Sharp

Marketing Communications

(503) 783-2385

Licensing Executives Society

Kari Horesky

Membership and Chapter Relations Coordinator

(703) 836-3106

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