Examples of Ocean Tomo in a sentence
When he was hired, Barney became a “member” of Ocean Tomo, meaning that he held equity in the firm and was a party to the firm’s operating agreement.The operating agreement governed how profits and losses would be allocated among Ocean Tomo’s members.
Indeed, several universities have monetized patents through the Ocean Tomo (now ICAP Ocean Tomo) intellectual property auctions, while others have engaged in private monetization transactions.
Moreover, the practice of using patents as collateral has stimulated the activity of several intellectual property (IP) right intermediaries that perform financial evaluations of patent portfolios (e.g. Ocean Tomo and Patent Ratings, M-CAM, PLX, etc.).
Other profits not constituting “net profits from operations” were also to be allocated pro rata.According to Barney, he soon learned after joining Ocean Tomo that the environment at the company was “rife with conflict, back-biting, and shady business and accounting practices.” (Second Am. Countercls.
Barney says that he expected to sign an agreement with NTT Data and that Ocean Tomo falsely represented to NTT Data that the prospective agreement would violate the license agreement between Ocean Tomo and PatentRatings.Ocean Tomo moved to compel arbitration or, alternatively, to dismiss certain of Barney’s counterclaims.
That agreement required Ocean Tomo to hold PatentRatings’ confidential information “in strict confidence” and “not to use it commercially for its own benefit.” (Id. ¶ 36.) Barney alleges that, in September 2012, Ocean Tomo accessed PatentRatings’s computer servers and copied its confidential information to “reverse engineer[] PatentRatings’[s] algorithms and related software and to create its own competing patent rating system” in violation of the license agreement.
In that agreement, Ocean Tomo represented that there were “no [c]ontracts relating to the issuance, sale, or transfer of any equity securities of [Ocean Tomo].” (Second Am. Countercls.
As part of that proceeding, Monslow testified, “Not long before the Ocean Tomo auction—when I say not long before, maybe a year or two, there was an assignment of the patents to an intellectual property .
IP monetization made global headlines in April 2006 with the world’s first multi-lot live IP auction in San Francisco, conducted by Ocean Tomo.
To supplement the efforts of Deutsche Bank and Versari, in September 2017, the Debtors retained Ocean Tomo, a financial advisory and brokerage firm that specializes in intellectual property and intangible assets, to act as a placement agent in connection with the private placement of equity or debt-lined securities to certain investors.