Driving the Innovation Economy with IP Street

IP Street Launches Today; Next Generation Patent Tools for All

Actionable Intelligence, Visually Presented, to Answer Key Business Questions

SPOKANE & SEATTLE, WA — August 25, 2011 — IP Street, the maker of next generation patent tools, publicly launched today to give inventors, intellectual property (IP) professionals, and business executives the same sophisticated resources large companies use to navigate patent data and make strategic business decisions. As intellectual assets become the leading growth engine of the innovation economy, IP Street seeks to clear the dense fog of complexity from the patent landscape so that generalists and IP pros alike can affordably analyze data.

The web-based service will help anyone answer critical business questions such as:

• "Is my idea patentable?"
• "What exposure does my product have to infringing others?"
• "Who may want to acquire my technology?"
• "How does my company's IP compare to the competition?"

IP Street will present search results in user-friendly visual formats that conform to the way business executives think.

"Whether you are an experienced inventor or not, IP Street can help you answer some fundamental questions such as 'Is my idea patentable?' or 'What companies would be interested in my technology?' or 'What is my competitors' IP?' We do this by searching millions of documents and returning the most relevant results in a visually understandable way, to help you filter the noise and identify the essence of the question," said Lewis Lee, co-founder and inventor.

"This is the next generation of patent tools and we are bringing them online at a time when more and more people are struggling to make sense of the intellectual assets that are driving the innovation economy. Forty years ago, 90% of the value of the S&P 500 was held in tangible assets. Today it is nearly flipped, and 90% of the value is intangible assets. In the very near future, everyone will be using tools like these just as they use Bloomberg or Morningstar to understand financial data today," he said.

The Technology

IP Street has merged multiple technologies, such as concept searching, data analytics, and data visualization — historically a text-only, legalese-laden, research-intensive undertaking — and applied them to volumes of patent data so that even non-IP pros can visually evaluate results. The dashboards and graphs produced by IP Street allow a user to look at patent data the way they look at the rest of their business.

IP Street's pre-launch subscribers, which include Amazon, Alibaba, T-Mobile, and PAML, have complex IP issues and their experiences enabled developers to test and improve the technology in the months leading up to the public launch.

"We are committed to ongoing innovation," said Lee. "We value our customers, and we will always be looking for feedback to improve our tools."

Pricing & Availability

IP Street has designed its service to provide instant, actionable information to inventors, IP professionals, business strategists, HR directors, investors, analysts, and business executives. IP Street's tools and data are available entirely through the web, and no application downloads or updates are needed.

Daily, weekly, monthly, and quarterly access plans are available for individuals to purchase on-line, and multi-seat or annual plans are available through IP Street's sales department. Details on pricing plans are available at www.IPStreet.com.

Special Offer for Inventors

Inventors seeking answers to questions about their own patents will find a substantial, but limited-time-only discount available to them through www.IPStreet.com. The pricing is designed to be disruptive to the market for information about patents, and support individual inventors who are the true heroes of the innovation economy.

Founding

The idea for IP Street originated with Lee, a co-founder of the US's top ranked firm for patent quality, Lee & Hayes (Spokane, Seattle, Austin, Portland Metro, Taipei, and Beijing). Lee became engrossed in the notion of mining IP data to plot business strategy when he was hired by an investment bank to predict the likely outcomes of the landmark NTP v. Research In Motion case. In the time since, he and his firm have come to represent several of the 10 largest patent filers in the United States, and Lee has become a recognized evangelist on the rise of intellectual assets in the U.S., China, and beyond. Lee gathered his colleagues at Lee & Hayes, some IP experts and others business strategists, raised funds, and went to work assembling the technologies and talent behind IP Street today.

Management Team

Lee is IP Street's CEO. Art Coffey, a business strategist who took RLH public on the NYSE as its CFO, best known for his leadership as the President and Chief Executive Officer of Red Lion Hotels Corporation from 2003 to 2008, is COO & CFO. Tammy Krieger, Director of Product Management, was formerly in a leading role with Microsoft's patent group and brings expertise in data management, patent analysis and process optimization. John Vogel, Vice President of Engineering, leads the software development team, formerly co-founded and developed Saas companies such as Four Creeks. The team is backed by a board of directors that include Stacey Cowles (Cowles Company), Dennis Hopton (York Trade Limited of Hong Kong), George Nethercutt (former U.S. Representative), and Lee and Coffey. IP Street's advisory board includes Roger Shang (Alibaba), Sean Clark (Microsoft), Dan Crouse (Lee & Hayes), John Murphy (T-Mobile), and Thomas O. Tiffany, PhD (PAML).

The company is privately funded.

About IP Street

IP Street is driving the innovation economy by delivering actionable business intelligence from patent documents. IP Street empowers users to Discover, Measure, Compare, and Connect to business opportunities. Designed for inventors, IP counselors, strategists, executives, investors, and analysts, the features of IP Street's cutting edge technologies simplify the complexities of intellectual property into intuitive and meaningful graphical summaries. These visualizations provide the essential "due diligence" to allow users to effectively evaluate business questions. The company is headquartered in Spokane, Washington, with a development office in Seattle. More information is available at www.IPStreet.com.

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