VideoLabs Retains Sherpa Technology Group to Advance Patent Collective Business Model for Video Industry
SAN FRANCISCO, Nov. 5, 2019 /PRNewswire/ — VideoLabs, Inc., an industry-sponsored patent collective startup, has retained Sherpa Technology Group, a strategic consulting firm with deep expertise in the intersection of business, technology, and intellectual property, to assist in developing its membership offerings and associated rate card.
Launched on October 17, 2019, VideoLabs seeks to disrupt an inefficient, costly, and unpredictable patent system. It identifies and acquires the most valuable video patents for its members to help them avoid unnecessary litigation risk and high licensing costs.
Sherpa has advised VideoLabs since its launch and will continue assisting VideoLabs to further develop its membership offerings and refine its pricing model. Sherpa’s guidance and input will ensure that VideoLabs’ offerings provide the video industry with the greatest degree of fairness, balance, and benefit.
VideoLabs CEO Joe Chernesky said: “Without the trust and support of industry, we cannot achieve our mission of driving down the cost and risk of patents to our members. It is important that we get this right and our members see clear cost and risk reductions by joining the VideoLabs Patent Collective. Sherpa has provided great assistance to ensure VideoLabs has the right business model and offerings from the very start.”
Sherpa Managing Partner Peter Detkin said: “VideoLabs is a different kind of company with a powerful mission. Because it reinvests the majority of its revenue to benefit members, it has the chance to make a major impact. We are proud to help them achieve their goals.”
VideoLabs’ offering is resonating with the industry. Effective November 1, the newest member of the collective is Siemens Healthcare GmbH. VideoLabs expects to make additional member announcements soon.
About VideoLabs, Inc.
VideoLabs’ mission is to disrupt the current model of patent licensing and significantly drive down the cost and risk of patents through its industry-sponsored patent collective platform. The platform provides a predictable, low-cost, efficient alternative to conventional patent licensing practices while also providing fair and just compensation to innovators that have contributed truly valuable IP to the industry. In exchange for annual fees, members gain access to the most valuable patent rights worldwide in the exploding segment of video, clearing significant risk and allowing them to design and innovate freely without unnecessary costs or fear of litigation.