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Brilliant minds on the payroll, check. Innovative ideas churning forth, check. Experienced counsel securing all appropriate forms of legal protection, check. Aggressive new licensing strategy to fully exploit the company’s intellectual property assets . . . no? You gotta have a licensing strategy — preferably one that has been rethought, revamped, and ramped up to take advantage of all the lucrative possibilities of the 21st century. In this issue of Legal Times’ IP, the cover package, ” Ideas for Rent,” considers the modern licensing strategy — at major and minor companies. Free-lance writer Renee Deger looks at several small but feisty companies that are suing multiple alleged infringers to win royalty revenues in ” You Need a License.” For most of these companies, the business plan is elegantly simple: Hire a lawyer. Send out letters suggesting the value of taking a license. Negotiate. Then sue the recalcitrant. Big corporations are also determined to leave no royalty behind. In ” Don’t Let the Lawyers Do It,” technology giant Hewlett-Packard has taken an original approach. Instead of leaving licensing to the general counsel’s office, writes free-lancer Alan Cohen, Hewlett-Packard has placed a longtime business manager in charge. Over at Microsoft, they’re also exploring a new path. But in Bill Gates’ case, it looks somewhat similar to another company’s old path. To lead its new licensing initiative, Microsoft has hired a veteran of IBM, the corporate master of IP exploitation. Free-lancer Lisa Shuchman tells the story in ” Follow in IBM’s Footsteps.” Closer to home, Legal Timesreporter Christine Hines talks to Jon Dudas, the new head of the Patent and Trademark Office. She can safely report that he’s a busy man (” At Home and Abroad, Dudas Weighs In“). But does he have a licensing strategy? — Elizabeth Engdahl Managing Editor

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