My friend Julian Gyngell writes:
I am an IP lawyer in Australia and in my spare time I am enrolled in an LLM at Sydney Uni. My final semester (at last) is on the subject of Securitisation. I have written a paper on IP Securitisation (well, almost – it’s due in 9 days time!) and I have built my thesis around a hypothetical IT company that owns a bundle of IP rights and derives “receivables” from the commercialisation of its IP – the receivables are then “securitised” as in any other securitisation.
I know of numerous examples of IP-related securitisations and the Bowie bonds are obviously the starting point. However, although there are quite a number of case studies in the music/film/pharma/franchising space which I am using, by analogy, for my hypothetical IT company, I am not aware of an IT company (in real life) ever having securitised its receivables. If anyone knows of any IT companies that have securitised their IP receivables I’d be very grateful if you could let me know – subject to confidentiality, of course. Please email me here.
