31 October 2017
Connecticut
Reporter: Barney Dixon

McCurdy, Lynch and Quatela launch defensive IP licensing business


Dan McCurdy, Tim Lynch and Laura Quatela have launched a new patent licensing company using more than 4,500 patent families from Nokia.

The company, Provenance Asset Group, has a portfolio of more than 12,000 individual patents, originating from Nokia Technologies, Nokia Solutions & Networks and Alcatel-Lucent.

They cover various industries including technology in the telecommunication, gaming and semiconductor industries.

McCurdy will serve as CEO of the company, while Lynch will take on the role of president and Quatela will work as special advisor.

Provenance explained that it will provide large and small companies with litigation-grade patents, enabling them to expand into new markets with a significant reduction in patent risk.

The company suggested it would not provide these rights to non-practicing entities.

McCurdy commented: “Companies are currently spending tens of millions of dollars a year to create and maintain patent portfolios to defend against claims of infringement from others.”

“We believe Provenance will transform the way companies approach gaining freedom to pursue new markets, new clients, and new products.”

Lynch added: “Provenance increases efficiency by allowing operating companies to obtain defensive enforcement rights to superior patents at a reasonable price only when they actually need them. It is analogous to the concept of leasing assets used in many industries.”

Ilkka Rahnasto, head of patent business at Nokia, said: ““We are excited about the reassurance Provenance can bring to companies large and small seeking to bring their products and services to global markets.

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