iGen Networks Corp (IGEN)

[kayak_wench]

it is likely that Chan has been building the case Jun 2022. I incorrectly associated 'product marketing staff' (hired in Nov 2022) with patent infringement progress. The main progress will be made by patent attorneys, and they are probably getting payed hourly, so their contributions/expense likely would not turn up in a form7. The patent progress noted in the May, Nov, and Mar would likely have been done by a patent attorney. I also added the information from the Feb 2022 form7 that said they would be developing a valuation of the patent in 2022. Lets hope that valuation has been completed!

Feb 2022 - Valuation of DTS patent to commence in Q1-2022
May 2022 - Due diligence on possible patent infringements to be completed in Q2
Sep 2022 - Product marketing staff hired for patent infringement assessment
Nov 2022 - ......patent infringement assessment – claim charts completed
Mar 2023 - Due diligence of major issuers use of driving scoring presently being assessed

Chan is definitely moving to enforce the driver scoring patent. Just hope that the second step of enforcing a patent is a public move to enforce the patent (i.e. asking for or better yet getting money from violators). But the second step could be to develop a licensing agreement to offer the violators if that hasn't been done. The due diligence remarks are in the present tense indicating they are ongoing. Would love to get an estimate of when they expect to take direct action with an individual company to enforce this, but we aren't going to learn about that until after the fact. Either through a PR that they paid us something or a form7 update indicating they have initiated a legal recourse. Below is from https://www.jdsupra.com/legalnews/an-introduction-to-patent-due-diligence-98765/:

“Patent due diligence can take many forms, depending upon the circumstances in which the need for diligence arises. For example, diligence can be “offensive” to determine whether others are infringing your patents or whether your patents can be monetized via licensing or divestment. Such an offensive diligence may entail researching other companies’ products to determine whether any of their products infringe your patents as a first step towards enforcing your patents. Additionally, it may include tailoring a licensing strategy to generate revenue in line with your business objectives.