Evaluation of Social Media Learning

Evaluation of Social Media Learning

Social media learning refers to using various forms of social media – whether it is YouTube, Twitter, or Facebook, to learn the material of a class. In our class IEOR 190g, we were instructed to post YouTube videos every week, and discuss various topics from guest lecturer speeches to finding news articles on patents that interested us.

This class is very different than the other classes that I have taken at Haas in a very nice way. Some of the advantages of taking IEOR 190g and learning through social media are outlined below:

Benefits of Social Media Learning

-          Easier to remember the lessons – At the end of the day, I am going to remember an interesting video I watched about the patent on making a cat move with a laser pointer, probably not an obscure date from history like the birthday of a famous inventor.

-          Improvement in Speaking – Talking in Youtube blogs made me more comfortable with recording myself talking. This might come in handy if ever I get video interviews for companies or business schools.

-          Updated on new technology – This class allowed me to start using social media that I don’t have and social media that I have in a different way. I never had a twitter account and made one for this class.

Overall, I thought that our Professor’s way of teaching was very unique and creative. It is not often that you get to post Youtube videos or even use social media for classes.

Value of What I learned in this class

Value of What I learned in this class

This class, IEOR 190G, patent engineering, has been very valuable to me. Some of the key concepts and lessons that I learned are outlined below

-          Knowing how to file for a patent and how the criteria for patents work: I think knowing the criteria for patents such as non-obviousness and novelty really helps me understand what it takes to be able to file for a patent.

-          Value of repetition in discussions and homework: Even though making the blogs and commenting on videos can be very tiring, I do appreciate what it teaches us. We can see what other people did well and see where we can improve on for our future blogs. Hearing a lot of people say the same thing also really drills concepts into your head and hopefully I can remember them 10 years from now.

-          Understanding different perspectives: Different people have different opinions on the topics we discussed. For example some people think patent trolls can be good while others do not. Some people think software should be patented bit others do not. Just hearing about the diversity of opinions was very eye opening.

Other than what I learned above, I also enjoyed how there were guest lecturers, who gave us insight on the patent landscape in the US, and the businesses opportunities that arise in the technology sector.

Given the opportunity, I would have taken more classes like this because it is very interactive and very focused in terms of subject matter. Looking back on my 4 years at Cal this has been one of the most memorable classes that i have taken.

Efrat Kaznik’s Lecture – Summary and Highlights

Efrat Kaznik’s Lecture – Summary and Highlights

In class, I really enjoyed the guest lecturer Efrat Kaznik’s lecture on IP strategy because I think that IP is definitely playing a bigger part in company’s valuation

Efrat mentioned that intangible assets account for more and more of a company’s core competitive advantage – this can be in the form of goodwill, great company morale, etc.

My favorite part was when she talked about about the white space analysis. It makes a lot of sense that you have to identify the areas that are already saturated with a lot of competitors before jumping in to value a company’s intangible assets and IP. It was a great visual to see which technological areas are saturated and which ones are not.

I also really appreciated how she talked about the various deals that went on concerning acquisition of patent portfolios. For example, Microsoft paid 1.06 billion for AOL patents and 125 apps. Acquiring patent portfolios has become very strategic for large companies to stay on top of litigation and to avoid lawsuits. Patents can also increase revenue stream. The XEROX PARC center lost about half a billion potential revenue from not filing the patent for GUI (graphical user interface) which was later copied by Mac and Windows.

Finally, I really appreciated how the guest speaker is the head of Foresight Valuation Group. I will be a valuation analyst after I graduate, and I don’t know a lot of people going into valuation. It was nice to hear about a leading expert in the field that I am about to go into, although I am not doing so much IP valuation but more mainstream valuation.

Intellectual Property Valuation Techniques

Intellectual Property Valuation Techniques

For this week’s blog, I read up on the valuation techniques for intellectual property from IP metrics, an intellectual property consulting firm.

http://ipmetrics.net/IPVT.pdf

Some of the methods they have are summarized below.

1.     The cost approach – this cost approach just refers to valuing an intellectual property based on how much it cost to develop. It is very simple and intuitive to understand. There are 2 methods here – one is the cost of reproducing the technology and the second way is the cost of replacing the technology in the event that it is lost.

2.     Market approach – this valuation style is used in a way that is similar to value tangible assets. So the way to find out the value of an IP from the market approach is through looking at comparable transactions that have occurred before. Obviously no technology is exactly similar, so this is one key flaw of this method.

3.     Income approach – This approach is similar to the DCF (discounted cash flow method) in basic finance. This is where an IP is valued based on the future cash flows that it is expected to generate, discounted back to the present year to account for the time value of money.

4.     Relief from Royalty – this method involves valuing an IP based on the royalty fees that you would get from the IP that you have. IT is complex and takes into several factors including licensing agreements, exclusivity, geography, etc.

This reading on the different valuation techniques is relevant to the class because this is what Foresight does as a business in IP valuation. The company finds out through various methodologies how much intellectual property is worth and how to use these IP for the advantage of their clients.

Summary of TEDxUSC – Fashion Industry and Patents

The TED talk Lessons from Fashion’s Free culture, sheds light on the role intellectual property and patens play in the fashion industry – “not that much.” The speakers says that “apparel design is too utilitarian to quality for patents / IP.” The only type of protection fashion houses have is their logos and trademarks, but designs on shirts and different button layouts are not patented, meaning there is a lot of room for fast fashion houses like Zara, H and M, and Top Shop, to follow and copy the lead of higher end luxury designers.

While one may think that copying trends may be harmful, there are actually certain virtues of copying. Trends can be set faster. In today’s global world, fashion designers will want to have their trends set faster so that they can appeal to new customers faster too.

It is interesting to note that there are other industries where inventions cannot be copyrighted as well – for example magic tricks, food recipes, and car designs. I think in the larger context, this video shows how patents and copyrights have different roles in different industries, and the fashion industry is one in which copyrights do not play a role that seems very significant.

So the next time Burberry tries to sue one of the lower end companies for stealing its Burberry check, I (which I see has been copied or replicated in many instances by other fashion labels that are lower end like Kenneth Cole Reaction for example), it should remember that copycats might actually help set trends that are beneficial to Burberry.

Everything is a Remix

Everything is a Remix

The video by Kirby Ferguson really stuck with me because I really agreed on his main point – which is that “everything is a remix.”

In patent discussions, it is easy to accuse people of copying bits and pieces of your idea, and in the TED talk, this was extended to music – where Bob Dylan was accused of copying music in different ways. Bob supposedly copied the melodies, song structure, and lyrics of other artists. However, when I was listening to the songs, they all still sounded unique and I think what made Bob Dylan’s music great was that he was able to draw on different influences to produce his own authentic music. He took bits and pieces from songs and artists/role models he liked and pieced together his own.

I thought it was also interesting how the TED talk cited Steve jobs on his quote that great inventors steal. This reminds me of how ultimately all our inventions build on prior inventions and that we owe it to those who were there before us because they paved the path for us to be able to make breakthroughs using the material that they provided. I thought that it was funny too how Steve Jobs hated it when other people stole from him and it shows his “double standard.”

Halloween Backpack for dispensing candy

Silly Patents: Halloween Backpack for dispensing candy

We recently learned in class that not all patents have to be breakthroughs or extremely innovative solutions to problems that exist today. Patents can actually be very random. The patent I want to discuss today is called the Halloween backpack, and it seems quite useful for use in that specific holiday.

The container is innovative because it is a backpack that has a candy dispenser. Halloween is known for “trick or treating” and using this backpack can be an easy way to accept and give away candy. This patent is pretty creative and even though it does not have the same transformative power as let’s say, a semiconductor, I definitely see its potential to be sold in the market.

The Halloween backpack is a niche product that will likely appeal to kids and their parents. Reading this patent made me realize how patents can be fun and creative in a way that one would not expect. A patent just has to fit the criteria of being novel and non-obvious, even if the patent is not practically feasible like the method for birthing using the centrifuge. I know if I was a kid, this would have would have been something I would have wanted to purchase or at least brought to “show and tell.”

Analyzing the patent, I think this patent is novel in that it is new – I have never seen this type of backpack being sold in stores, and it is nonobvious in that one would not expect the strategic combination of a container / dispenser with a stuffed animal design into a backpack that allows faster candy receiving in Halloween.