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Founded in 2000 by Nathan Myhrvold and Edward Jung of Microsoft, Peter Detkin of Intel, and Gregory Gorder of Perkins Coie, a Seattle-based law firm, Intellectual Ventures is built on the belief that combining capitalism and invention will benefit the world with more and better inventions as well as create financial rewards for investors. Intellectual Ventures is an 'Invention Capitalist.' While venture capitalists and private equity investors typically seek out existing ideas and companies for investment opportunities, IV focuses on funding the creation of new inventions and introducing a variety of new models for monetizing invention as a stand-alone asset. IV conceives and patents inventions from within the firm, invests in the inventions of others, and also partners with select university and research labs. The firm works on a global scale and across more than 30 technology areas including: hardware, software, consumer electronics, digital imaging, medical devices and energy. Strategies will include licensing, spin outs, and joint ventures and are dependent upon the technology, the culture of the specific industry and, most importantly, market timing and opportunity. To date, the firm has raised more than $5 billion. Intellectual Ventures and SAP AG (NYSE: SAP) recently announced they have entered into a long-term license agreement. As part of the agreement, SAP will obtain a right to access IV's patent portfolio for defensive use. The firm launched the Intellectual Ventures Laboratory, a 27,500-square-foot facility in Bellevue, Washington, that allows the IV to extend capabilities for advanced research and prototyping to its inventor partners. Through The Invention Science Fund they have created more than 15 new companies based on breakthrough technologies, which have raised more than $700M in funding.
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