[Prospective] Intellectual property management firm
Nathan Myhrvold runs a firm that doesn't make anything,but it's hoarding the key to a new business age: intellectual property ./p>
But spinning new ideas is only a small part of the plan. Sources familiar with Myhrvold's strategy say that he has raised $350 million from some of the largest companies in high tech: Microsoft, Intel, Sony, Nokia and Apple. Google and eBay also recently invested. With this large bankroll, the company is out buying existing patents in droves. (Myhrvold won't comment on these activities, but sources say he has already purchased about 1,000 patents.) The strategy is to set up a sort of patent marketplace. Patent owners get money upfront for the dusty ideas sitting on their shelves, the investors get the rights to use the ideas without being sued and Myhrvold gets to rent those same ideas to other companies that need them to continue creating products.