This project was completed by Intensity. Intensity joined Secretariat on February 1, 2023.
A holder of patents declared to the European Telecommunications Standards Institute (ETSI) as essential for 3G and LTE cellular standards extended an offer to multiple manufacturers of end-user devices to license the declared patents. The manufacturers claimed that the patent holder’s licensing offer was not fair, reasonable, and non-discriminatory (FRAND). In response, the patent holder requested that the U.S. International Trade Commission institute an investigation pursuant to the provisions of Section 337 of the Tariff Act of 1930 regarding the importation of the manufacturer’s accused products.
Intensity evaluated whether the patent holder’s offers to license patents claimed to be essential for 3G and LTE functionality in end-user devices were FRAND. Intensity analyzed relevant license agreements, the aggregate royalty burden for the 3G and LTE standards, and the patent holder’s economic contribution to each standard.
Intensity also evaluated multiple economic issues, including the impact on competition, consumers, and public health and welfare, relating to how a limited exclusion order and cease and desist order against the manufacturers may impact the public interest. In addition, Intensity performed an evaluation concerning a bond amount upon importation of the accused products that would be sufficient to protect the patent holder from any injury during the 60-day Presidential review period pursuant to 19 U.S.C. § 1337(j).
Taking The Right Approach in Asset Searching and Recovery in 2025
The tension among regulators between the push for increased transparency and the need to protect individual privacy is always apparent in asset searching exercises. This tension is a global phenomenon, central to the ongoing debate surrounding registering beneficial ownership information.
Marking 135 Years of the Sherman Antitrust Act
Today, Secretariat marks the 135th anniversary of the Sherman Antitrust Act, enacted by the 51st U.S. Congress and signed into law by President Benjamin Harrison on July 2, 1890. The Act was the first comprehensive federal legislation to promote competition, criminalize monopolistic behavior, and empower courts to uphold economic efficiency as a public good.
Highlights and Takeaways from CBV CONNECT 2025
At the CBV CONNECT 2025 Conference in Toronto, we had the privilege of presenting multiple panels, engaging with fellow business valuation professionals, and exploring the latest developments shaping the future of the industry. We’ve compiled key takeaways from our time at CONNECT 2025 below, highlighting critical insights from our speaking engagements and the emerging trends we’re watching in the world of business valuation.