4 ms·

IP? Didn't JP Morgan take all their patents last year?

by sdan 7y ago

helsinkiandrew 7y ago
They assigned their patents to JP Morgan Chase last year presumably as collateral for a loan which they'll get back if they or the buyer pays back the loan: https://www.theregister.co.uk/2019/11/14/magic_leap_imoney/ https://www.theregister.co.uk/2019/11/14/magic_leap_imoney/
seanhunter 7y ago
My understanding is Magic Leap assigned them, meaning they are pledged by Magic Leap as collateral on a loan[1]. This means that JPM only actually get them if Magic Leap default. (ie JPM can't just decide to sell those patents right now just like when you take a mortgage the bank can't just sell your house from under you if you remain current on your loan). If I'm JP Morgan I'm sweating this sale process right now because if Magic Leap do default (eg say the sale process tanks and they burn through their remaining cash and default), the recovery on these patents is going to be difficult so JPM will take a writedown on the loan. [1] https://regmedia.co.uk/2019/11/13/ml.pdf https://regmedia.co.uk/2019/11/13/ml.pdf is the patent assignment if you want to see what got assigned
- baybal2 7y ago
  Their patents are by far not a blocker to the field. Apple has actually have a much bigger patent contention with Beijing University with them holding the lockdown portfolio on the microled, and they recently "tainted" themselves through business relationship with one of Beijing University subsidiaries. It may look to the court, or at least a Chinese one, that they solicited samples from them, and very expensive at that, without stated purpose just to sneak away the tech.
jimmySixDOF 7y ago
I hope the cache includes whatever became of US20150016777A1 - the 180 page pièce de résistance application that ripped off literally dozens of UI concepts from various sources. [1] https://www.gizmodo.com.au/2015/02/magic-leap-ripped-off-those-awesome-ui-concepts/ https://www.gizmodo.com.au/2015/02/magic-leap-ripped-off-tho... [by Sean Hollister]

IP? Didn't JP Morgan take all their patents last year?

by sdan 7y ago

IP? Didn't JP Morgan take all their patents last year?

They assigned their patents to JP Morgan Chase last year presumably as collateral for a loan which they'll get back if they or the buyer pays back the loan: https://www.theregister.co.uk/2019/11/14/magic_leap_imoney/ https://www.theregister.co.uk/2019/11/14/magic_leap_imoney/

seanhunter 7y ago

My understanding is Magic Leap assigned them, meaning they are pledged by Magic Leap as collateral on a loan[1]. This means that JPM only actually get them if Magic Leap default. (ie JPM can't just decide to sell those patents right now just like when you take a mortgage the bank can't just sell your house from under you if you remain current on your loan). If I'm JP Morgan I'm sweating this sale process right now because if Magic Leap do default (eg say the sale process tanks and they burn through their remaining cash and default), the recovery on these patents is going to be difficult so JPM will take a writedown on the loan. [1] https://regmedia.co.uk/2019/11/13/ml.pdf https://regmedia.co.uk/2019/11/13/ml.pdf is the patent assignment if you want to see what got assigned

baybal2 7y ago
Their patents are by far not a blocker to the field. Apple has actually have a much bigger patent contention with Beijing University with them holding the lockdown portfolio on the microled, and they recently "tainted" themselves through business relationship with one of Beijing University subsidiaries. It may look to the court, or at least a Chinese one, that they solicited samples from them, and very expensive at that, without stated purpose just to sneak away the tech.

jimmySixDOF 7y ago

I hope the cache includes whatever became of US20150016777A1 - the 180 page pièce de résistance application that ripped off literally dozens of UI concepts from various sources. [1] https://www.gizmodo.com.au/2015/02/magic-leap-ripped-off-those-awesome-ui-concepts/ https://www.gizmodo.com.au/2015/02/magic-leap-ripped-off-tho... [by Sean Hollister]