What we see
The budget line you measure isn't the asset. Patents filed to cover your own roadmap quietly become patents the rest of the industry now practices.
Patent Monetization
A patent portfolio is an asset, not an expense.
We help operating companies, inventors, and funds convert patents into revenue — structuring the vehicle, the capital, and the risk transfer behind every monetization, from pre-suit diligence through resolution.
The Opportunity
Move the portfolio from the cost ledger to the revenue ledger.
Every IP team can produce a number for last year's filings, annuities, and outside-counsel spend. Almost none can produce a number for what the portfolio is worth to anyone outside the company. The first is a cost. The second is the question we get hired to answer.
Why it persists
Defensive thinking buries commercial value. Because nobody is paid to look outward, the portfolio's commercial reach is rarely measured — and that reach is where the value lives.
What changes
We map the estate against external markets, size opportunity conservatively against verifiable third-party use, and structure the path to capture it.
The Lifecycle
Extracting value, start to finish.
Monetization is a sequence of decisions — what to assert, how to structure it, who funds it, and how the risk is carried. We run every step.
1
Diligence & Valuation
Understand what the estate is worth outside the company.
We map the portfolio against external markets rather than your own product lines, building the diligence, claim-chart, and damages analyses that tell us — conservatively, against verifiable third-party use — where real value sits.
2
Portfolio Sorting
Separate defensive patents from the ones that earn.
Inward-facing patents protect your roadmap; outward-facing patents read on what other companies actually ship — and that is where the leverage is. We sort on adoption, remaining term, family depth, and reach beyond the U.S.
3
Structuring
Decide whether to run it in-house or move it to a vehicle.
The structure dictates everything downstream — who pays, who carries countersuit exposure, how fast revenue arrives, and how it looks on the financial statements. We build either and are direct about which fits.
4
The Vehicle
Stand up a dedicated patent holding company.
Where a vehicle is the right call, we structure a dedicated patent holding company to capitalize the portfolio — ringfencing the assets for licensing, financing, and outside-investor participation, and isolating countersuit risk away from the operating company.
5
Capital
Secure non-recourse funding for the campaign.
We sit at the table with leading patent litigation funders, aligning case selection, fees, and waterfall economics. The capital plan shows up at the start of the engagement, not in month nine.
6
Risk Transfer
De-risk the outcome with litigation insurance.
Judgment-preservation and litigation insurance hedge against outcome volatility — and, just as importantly, unlock financing and securitization that wouldn't otherwise price.
7
Enforcement
Drive the campaign to the milestones that move the deal.
Leverage compounds at each milestone — complaint filed, claim construction won, IPR survived, summary judgment held. Each step thins the defendant's options and shifts the economic conversation toward a license.
8
Returns
Generate returns on a waterfall that holds.
We negotiate economics that survive contact with reality, so the patent owner sees meaningful proceeds at the first license — not only after the funder is fully made whole. Misaligned waterfalls are how good cases turn into bad deals.
The Structuring Choice
Run it in-house, or move it to a vehicle.
K2K builds either. In-house fits when you already operate a licensing function and can carry the litigation budget. A vehicle fits when you would rather convert IP into capital without absorbing the legal, financial, or reputational drag of running the campaign yourself.
Internal Campaign
Keep It In-House
- Who runs the campaign
- Your internal IP / legal team
- Where the spend lives
- On the operating P&L
- Where countersuit risk sits
- Directly with the operating company
- First revenue
- Late — after a multi-year campaign cycle
- Upside profile
- Largest gross — fewest hands in the deal
K2K-Managed
Move It to a Vehicle
- Who runs the campaign
- Dedicated vehicle, K2K-managed
- Where the spend lives
- Funded externally; off the operating P&L
- Where countersuit risk sits
- Isolated inside the vehicle
- First revenue
- Often staged: upfront + back-end participation
- Upside profile
- Net of capital + vehicle, with downside hedged
Vehicles & Structures
The structures that make outcomes durable.
One firm, three functions — patent counsel, licensing platform, and capital interface — so the operating company can stay focused on its business while the portfolio earns.
Patent Holding Companies
Dedicated vehicles that capitalize a portfolio — ringfencing assets for licensing, financing, and outside-investor participation, with countersuit exposure isolated from the operating business.
Litigation Funding
Capital-backed enforcement structured with leading patent litigation funders, aligning case selection, fees, and waterfall economics from day one.
Insurance-Backed Deals
Litigation and judgment-preservation insurance that de-risks monetization — unlocking financing, securitization, and recovery against outcome volatility.
Capital
How we structure capital
- ✓Non-recourse litigation fundingFrom leading patent funders, priced to the matter.
- ✓Judgment preservation & litigation insuranceTo de-risk outcomes and unlock financing.
- ✓Flexible economicsPure-contingent, upfront + backend, and hybrid structures.
- ✓Co-investmentAlongside funders and patent investment vehicles.
- ✓Pre-suit seedingThrough "stress-test" events — IPR survival, Markman wins, MSJ.
Enforcement
How we enforce
- ✓Top patent districtsE.D. Tex., D. Del., N.D. Cal., W.D. Tex., S.D.N.Y.
- ✓Full forum coverageITC investigations, PTAB IPRs, and Federal Circuit appeals.
- ✓Cross-border strategyParallel-jurisdiction enforcement where it adds leverage.
- ✓Credible by constructionWe are a trial firm with a licensing practice — not the other way around.
Track Record
Licensing expertise, delivering results.
Dozens
Settled matters — six- to eight-figure outcomes
Decades
Plaintiff-side litigation, licensing & monetization
Hundreds
Matters handicapped for funds, family offices & analysts
$100M+
Damages threshold — our criterion for funded matters
Find out what your portfolio is worth in the open market.
Tell us about the estate. We'll tell you candidly whether there's a campaign worth running — and how it would be structured, funded, and de-risked.