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Practical IP Issues and Challenges in Israeli Company’s Ordinary Course of Business Amir Halevy, Practical IP Issues and Challenges in Israeli Company’s Ordinary Course of Business Amir Halevy, Adv. , Managing Partner Renana Dolev Harel, Adv. , Head of IP Dept. L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co.

Introduction § Lecture Outline: § Safeguarding your IP § Exploiting your IP L A Introduction § Lecture Outline: § Safeguarding your IP § Exploiting your IP L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 2 5 th of December, 2005

Part I Safeguarding Your IP L A W O F F I C E Part I Safeguarding Your IP L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co.

Incorporation of Commercial Entity § Rights to IP / Assignment of IP § Protection Incorporation of Commercial Entity § Rights to IP / Assignment of IP § Protection of IP § Patents/Trade marks § Confidentiality and Non-Disclosure § Non-Compete L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 4 5 th of December, 2005

Investment and M&A Agreements § § L A W O F F I C Investment and M&A Agreements § § L A W O F F I C E S Term Sheet Due Diligence Agreements Exhibits Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 5 5 th of December, 2005

Term Sheet § § L A W O F F I C E S Term Sheet § § L A W O F F I C E S Technology IP Rights Confidentiality Non-Compete Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 6 5 th of December, 2005

Due Diligence § Employment Agreements with previous employers § Non Compete § Rights to Due Diligence § Employment Agreements with previous employers § Non Compete § Rights to IP § Rights of Third Parties § Non Infringement of IP Rights § Universities/R&D Institutions § License/Royalties § Patent Attorney Opinion L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 7 5 th of December, 2005

Investment and M&A Agreement § § § Precise Definitions Good Title Good Standing License/Royalty Investment and M&A Agreement § § § Precise Definitions Good Title Good Standing License/Royalty Security Measures Non Infringement § Company Rights § Third Party Rights § Israeli Research and Development Law, 5744 -1984 § Indemnification § Company Views § Investor / Buyer View L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 8 5 th of December, 2005

Israeli Research and Development Law, 5744 -1984 § Law applies to all companies who Israeli Research and Development Law, 5744 -1984 § Law applies to all companies who receive grants from the Israeli Chief Scientist, even after full return of the grants. § Latest Amendments § Manufacturing outside of Israel § “Exits” by sale of know-how to non-Israeli entities L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 9 5 th of December, 2005

Israeli Research and Development Law, 5744 -1984 Transfer of know-how abroad: § Sale or Israeli Research and Development Law, 5744 -1984 Transfer of know-how abroad: § Sale or transfer of know-how § Allowed after receipt of approval § Subject to repayment formula to be agreed on in future regulations § Transfer of know-how in exchange for the transfer of substitute know how to Israel § Committee may approve transfer of know how with no additional charge L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 10 5 th of December, 2005

Israeli Research and Development Law, 5744 -1984 Manufacturing Abroad § Obligation to Israeli portion Israeli Research and Development Law, 5744 -1984 Manufacturing Abroad § Obligation to Israeli portion of product manufacture unless: § Impossible § Unrealistic § Uneconomical § Manufacturing abroad allowed without transfer (sale) of know-how § Terms: § Manufacturing of up to 10% - no approval required § Manufacturing of more than 10% - approval required § may be subject to a lump-sum compensation of up to 120% of the grant amount th L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 11 5 of December, 2005

Exhibits § Assignment Agreement § Employment Agreement § Rights to IP § Non Compete Exhibits § Assignment Agreement § Employment Agreement § Rights to IP § Non Compete § IP Status reports § Opinion of IP Counsel and Patent Counsel L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 12 5 th of December, 2005

Part II Exploiting Your IP L A W O F F I C E Part II Exploiting Your IP L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co.

Israel is a Leading Nation in IP Production But Do We Know How to Israel is a Leading Nation in IP Production But Do We Know How to Protect It? L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 14 5 th of December, 2005

Problem: Patent Explosion § § § L A W O F F I C Problem: Patent Explosion § § § L A W O F F I C E S Intangible Assets Value > Tangible Assets Value Soaring Patent Filings Ability to Freely Operate is Difficult to Ascertain Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 15 5 th of December, 2005

Solution: IP Analysis § Plan before acting! § Receive perspective on patent coverage and Solution: IP Analysis § Plan before acting! § Receive perspective on patent coverage and danger zones: § Relevant technologies § “Blocking” patents and potential design-arounds § Mitigation of infringement threat § Companies and inventors in the space L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 16 5 th of December, 2005

Patents are like Real Estate Trespass Sale Lease Mortgage Annual Property Tax Infringement Assignment Patents are like Real Estate Trespass Sale Lease Mortgage Annual Property Tax Infringement Assignment License Security Interest Patent Maintenance Fees Title, Registration Design, Build, Exploit Patent Office Registration Design, Market, Sell Location Square Footage Finishes Position w/ Tech. & Market Scope of Claims How well patent prepared Source: Morrison & Foerster LLP L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 17 5 th of December, 2005

The Patent Landscape Big House Bad Location Valuable Land DANGER ZONE Fortress Blocking Technical The Patent Landscape Big House Bad Location Valuable Land DANGER ZONE Fortress Blocking Technical Standard Unclaimed Valuable Land Public Land/ Prior Art Invalid Patent The Market Source: Morrison & Foerster LLP L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 18 5 th of December, 2005

When and why should you perform IP Analysis? § IP audit and valuation § When and why should you perform IP Analysis? § IP audit and valuation § Patent strategy and portfolio development § Transactions § Merger & Acquisition (in new business area) § Joint Venture § Licensing § Joining standards group or licensing pool § Freedom to operate § Understanding competitor patent position § Identify opportunities for future R&D L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 19 5 th of December, 2005

IP Evaluation Process Define Scope Perform Search O F F I C E S IP Evaluation Process Define Scope Perform Search O F F I C E S Analyze Patents Select Patents of Interest Design Around? L A W Map Trends Investigate Owners Mitigate Infringement Display results Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 20 5 th of December, 2005

Return of Investment – IP Exploitation § Secure financing § Royalties § Protect market Return of Investment – IP Exploitation § Secure financing § Royalties § Protect market share § Deter third party infringement suits § Acquire a license to competitor’s patent § Provide a bargaining chip § Collaborations L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 21 5 th of December, 2005

Business Aspects of Licensing Agreements § Nonexclusive v. Exclusive § Worldwide v. Defined Territory Business Aspects of Licensing Agreements § Nonexclusive v. Exclusive § Worldwide v. Defined Territory – geographical parameters. § Perpetual v. Specific Time Frame – temporal parameters. § Irrevocable § Nontransferable § Royalty Free v. Royalty Bearing § Unrestricted Use v. Field of Use L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 22 5 th of December, 2005

Time is Money – Perpetual v. Irrevocable § Perpetual license § Irrevocable license § Time is Money – Perpetual v. Irrevocable § Perpetual license § Irrevocable license § Perpetual license or Non-Perpetual license can be revocable or irrevocable. § Analogy – § perpetual regards a string of infinite length; § irrevocable regards a string (of any length) that cannot be cut. L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 23 5 th of December, 2005

Field of Use § Unconstrained rights to use or make commercial use of intellectual Field of Use § Unconstrained rights to use or make commercial use of intellectual property. § Limitation of use through definition of Field: § § § § L A W O F F I C E S by product by function performance criteria physical characteristics markets combination with other products or technology technical or use aspects Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 24 5 th of December, 2005

Field of Use § Tailored to the technology. § Value of the license according Field of Use § Tailored to the technology. § Value of the license according to scope of granted rights. § Specification of future trends, research, technology, etc. – prefer a non-generic clause. L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 25 5 th of December, 2005

Revenues and Compensation § Nonrecurring Fees v. Recurring Fees § Nonrecurring Fee § Recurring Revenues and Compensation § Nonrecurring Fees v. Recurring Fees § Nonrecurring Fee § Recurring Fees: § Periodic fixed fee. § Royalties - volumes or percentage of revenues. § Royalty terms vary according to licensed technology, license scope and exploitation. L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 26 5 th of December, 2005

Business Leverage in License Termination § Expiration v. Automatic Renewal § Adjustments usually require Business Leverage in License Termination § Expiration v. Automatic Renewal § Adjustments usually require agreement of all parties § Leverage for Licensee –no change in terms if the parties cannot agree, but the renewal term will commence anyway. § Leverage for Licensor – the term of the license shall end without renewal if the parties cannot agree on new terms. L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 27 5 th of December, 2005

Surviving Termination § No Post Termination Rights v. Post Termination Rights § § L Surviving Termination § No Post Termination Rights v. Post Termination Rights § § L A W O F F I C E S Ability to meet customer orders received. Rights of use but no rights to title. Freedom to operate Non-Compete Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 28 5 th of December, 2005

Business Collaboration with Universities/R&D Institutions L A W O F F I C E Business Collaboration with Universities/R&D Institutions L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 29 5 th of December, 2005

Income of $39 M in 2005 to TTC of the Hebrew University L A Income of $39 M in 2005 to TTC of the Hebrew University L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 30 5 th of December, 2005

IP of University/R&D Institutions Technology Transfer Company (“TTCs”/”TTOs”) § Converting scientific findings into commercial IP of University/R&D Institutions Technology Transfer Company (“TTCs”/”TTOs”) § Converting scientific findings into commercial assets § § Ownership of IP resulting from university employees Profit making company Identification and protection of IP Assist researchers in finding potential investors and in creation of profitable license deals/spin-out companies § Cash incentives - substantial amount of the profits (usually 40% or more) back to the researcher and his team L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 31 5 th of December, 2005

Q&A L A W O F F I C E S Gross ▪ Kleinhendler Q&A L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co.

Thank You Contacts: amir@gkh-law. com renana@gkh-law. com L A W O F F I Thank You Contacts: [email protected] com [email protected] com L A W O F F I C E S Gross ▪ Kleinhendler ▪ Hodak Halevy ▪ Greenberg & Co. 33 5 th of December, 2005