Dr. Stan Panis of Intensity* provided statistical analysis on behalf of the Florida Attorney General in a lawsuit over failure to perform due diligence on prescriptions.
Intensity worked with Kellogg, Hansen, Todd, Figel, & Frederick PLLC on behalf of the Florida Attorney General in litigation alleging that a pharmacy chain failed to perform due diligence on prescriptions for opioid painkillers.
During its work, Intensity analyzed shipments of opioid and related drugs from three major distributors to pharmacies. In addition, Intensity analyzed hundreds of millions of prescriptions for opioids and opioid cocktails filled by two major pharmacy chains, including tens of millions of red-flagged prescriptions that could have prompted the pharmacies to carry out due diligence and document the results.
Intensity designed and implemented statistical samples of about 2,000 prescriptions and scaled up the results to the populations of red-flagged prescriptions. The samples were two-stage samples: in the first stage, 50 pharmacy locations were selected. In the second stage, prescriptions from those pharmacies were selected. The two-stage design reduced the burden on the defendants because many due diligence notes were reportedly kept on paper at their respective locations.
Dr. Stan Panis of Intensity submitted multiple expert reports, provided deposition testimony, and testified at trial. The settlement marks the end of a month-long trial for the final defendant in Florida’s litigation over the opioid crisis. Other defendants had settled before the trial commenced.
ABC News coverage of the settlement can be found here. Law360 coverage (subscription may be required) can be found here. In addition, Bloomberg Law coverage can be found here.
*Work performed by individuals while employed by Intensity, LLC. Intensity was acquired by Secretariat in February 2023.
Dr. Ryan Sullivan provided trial testimony on behalf of The Trustees of Columbia University in patent litigation involving Norton’s cybersecurity software. Based upon the testimony of Dr. Sullivan, the jury awarded damages of $185 million.
Secretariat worked with Sullivan & Cromwell on behalf of The Trustees of Columbia University in patent litigation involving two cybersecurity patents. Columbia University claimed that five of Norton’s product families infringe its patents. The technology at issue uses machine learning to analyze the behavior of potential malware and improve malware detection.
During its work, Secretariat conducted economic analysis and provided trial testimony to determine reasonable royalties for the alleged patent infringement by Norton. This included an assessment of the geographic scope of Norton’s alleged infringement, evaluation of the economic contribution of the patented technologies to Norton’s allegedly infringing products, and analysis of the economic benefits from use of the patented technologies by Norton. As part of its work, Secretariat evaluated all fifteen of the Georgia-Pacific factors.
Dr. Ryan Sullivan submitted two reports and provided expert testimony at deposition and trial. After a two-week trial, the jury returned a verdict in favor of Columbia University with a damages award that is consistent with Dr. Sullivan’s testimony. The jury awarded damages of $185 million for infringement of U.S. Patent No. 8,074,115 and U.S. Patent No. 8,601,322 through February 2022. This damages award does not include prejudgment interest or potential future running royalties. The jury found that Norton’s infringement of both patents was willful, permitting the Court to potentially enhance the damage award.
Wall Street Journal and Reuters coverage of the verdict can be found here and here. In addition, Law 360 (subscription required) coverage can be found here.
*Work performed by individuals while employed by Intensity, LLC. Intensity was acquired by Secretariat in February 2023.
[et_pb_section fb_built=”1″ _builder_version=”4.11.1″ da_disable_devices=”off|off|off” global_colors_info=”{}” theme_builder_area=”post_content” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.11.1″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_margin=”|-82px||0px|false|false” custom_padding=”|0px|||false|false” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||” theme_builder_area=”post_content”][et_pb_text _builder_version=”4.14.8″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}” theme_builder_area=”post_content”]We are proud to welcome Terry Hawkins as our newest Managing Director based in London. Terry is a regularly appointed quantum expert with more than 17 years of experience in the construction and engineering sectors.
Terry’s practice concentrates on the valuation of construction claims, including the measurement and valuation of works, assessment of termination claims, and the quantification of prolongation and disruption costs. His considerable construction and litigation experience includes engagements in the energy, infrastructure, real estate and oil and gas sectors in the UK, Europe, South America, Middle East, Africa, and Asia. He is regularly called upon to give expert testimony before arbitral tribunals.
“Terry is an extremely talented expert with an impressive track record of building trust and confidence with his clients and colleagues,” says Secretariat Managing Director Don Harvey. “This is an exciting time to welcome him to the Secretariat team as we strengthen our already impressive bench of London-based construction quantum and delay experts.”
Prior to joining Secretariat, Terry provided construction advisory services at Yendall Hunter and Alvarez & Marsal. He also has worked for UK contractors on major UK infrastructure schemes in a range of commercial roles. Terry holds a bachelor’s degree in Commercial Management and Quantity Surveying and a master’s degree in Construction Law and Arbitration. He is a Fellow of the Royal Institution of Chartered Surveyors (FRICS) and a Fellow of the Chartered Institute of Arbitrators (FCIArb).
ABOUT SECRETARIAT
Secretariat is a global independent expert services, litigation consulting, and economic advisory firm. The firm serves a wide range of clients and industries, specializing in international arbitration and litigation; economic damages; valuations; forensic accounting; government contracting; antitrust and competition; and large-scale construction disputes with a focus on delay and quantum analysis. Headquartered in Atlanta, Secretariat operates from multiple offices across North America, Europe, Australia, Asia and the Middle East. The firm has earned several distinctions, including consistent top ten rankings in Global Arbitration Review’s prestigious GAR 100 Expert Witness Firms’ Power Index and having more than 50 professionals included in Who’s Who Legal listings. For more information, visit secretariat-intl.com, connect with us on LinkedIn, or contact us at info@secretariat-intl.com.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
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HOUSTON, January 12, 2022 – Today Secretariat, the global expert services, litigation consulting, and economic advisory firm, announced the expansion of the firm’s Damages practice in Houston with the addition of distinguished expert Almir Smajlovic. With more than 12 years of experience in international commercial and investment treaty arbitration, Smajlovic focuses on damages and other financial, economic, forensic, and accounting-related analyses for disputes, valuations, audits, and transactions.
“An exceptional damages expert, Almir’s depth of expertise is second to none and his reputation is top-notch amongst clients spanning a variety of industries and asset types,” says Secretariat Managing Director Don Harvey. “In particular, his experience in the energy sector strengthens Secretariat’s growing focus in this important global industry.”
Smajlovic has led engagements and assessed damages in international arbitration matters held under the auspices of various arbitral forums, including ICSID, ICDR, LCIA, SCC, ICC and SIAC, among others. He has technical expertise in valuation methodologies, including the income, market, cost, and hybrid-based approaches.
Smajlovic has earned the distinct honor of being named by Who’s Who Legal as a “Future Leader” under the age of 45 in the field of arbitration (expert witnesses) for 2020, 2021 and 2022.
Prior to joining Secretariat, he held positions in the Disputes and Investigations practice of Alvarez & Marsal, Financial Economics practice of Charles River Associates, and in the Assurance practice of PricewaterhouseCoopers. Additionally, he spent almost a decade at Kellogg, Brown and Root in the Middle East and Eastern Europe, where he worked in operational and supply chain roles.
ABOUT SECRETARIAT
Secretariat is a global independent expert services, litigation consulting, and economic advisory firm. The firm serves a wide range of clients and industries, specializing in international arbitration and litigation; economic damages; valuations; forensic accounting; government contracting; antitrust and competition; and large-scale construction disputes with a focus on delay and quantum analysis. Headquartered in Atlanta, Secretariat operates from multiple offices across North America, Europe, Australia, Asia and the Middle East. The firm has earned several distinctions, including consistent top ten rankings in Global Arbitration Review’s prestigious GAR 100 Expert Witness Firms’ Power Index and having more than 50 professionals included in Who’s Who Legal listings. For more information, visit secretariat-intl.com, connect with us on LinkedIn, or contact us at info@secretariat-intl.com.
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Intensity joined Secretariat on February 1, 2023.
Intensity, LLC, an economic consulting firm generating influential research and in-depth analysis, announced today the key hire of Managing Director Bruce Blacker, CPA, CFF, who joins the Intensity office in Dallas, Texas.
Mr. Blacker is focused on providing accounting and economic consulting in high-stakes litigation cases. He has more than 30 years of experience as a forensic accountant and economic damages expert. He is a seasoned expert witness and has provided testimony in Federal Courts, State Courts, and at arbitrations.
“I am excited to join Intensity and be part of the new Dallas Office,” Mr. Blacker remarked on the new role, “I am impressed with the company’s clear vision of providing excellent client service. Together with our team of outstanding financial and economic professionals, I look forward to assisting our clients solve problems, provide exceptional work product, and resolve complicated business disputes.”
Mr. Blacker brings extensive experience in matters involving breach of contract, business interruption, fraud investigations, insurance claims, intellectual property matters (such as copyright, patent infringement, trade dress, trademark, and trade secrets), lender liability, loss of earnings, securities fraud, and other general damage quantification matters.
“We are thrilled to have Bruce Blacker joining the Intensity family,” said Patrick Sanders, CEO of Intensity, “Bruce brings a wealth of experience to the company combined with a strong track record of success, further deepening our commitment to expanding the Intensity presence in Texas.”
Prior to joining Intensity, Mr. Blacker was a Partner in the Financial Advisor Services, Dispute Analysis and Investigations practice of PricewaterhouseCoopers; was a Vice President at Analysis Group; and was a Managing Director at B. Riley Advisory Services. In addition to Mr. Blacker’s litigation consulting experience, he has provided corporate recovery, business valuation and tax compliance services.
Mr. Blacker earned his Bachelor of Science in Accounting and Master in Accountancy from Brigham Young University. He is a Certified Public Accountant licensed in the state of Texas and is certified in financial forensics (CFF).
Intensity recognized among an elite group of businesses to earn this award.
Intensity joined Secretariat on February 1, 2023.
San Diego Business Journal named Intensity, LLC one of the top workplaces in San Diego.
This annual curated list results from the corresponding award program dedicated to identifying, recognizing, and honoring the best employers in San Diego. As one of the Best Places to Work in San Diego for 2021, it is an honor to be featured on this prestigious list multiple times.
“For the fifth year, Intensity has been included on the list of Best Places to Work in San Diego. It is an honor, and the recognition is clearly a reflection of the team’s commitment to the company, its culture, and each other. We celebrate this achievement together,” said Patrick Sanders, Chief Executive Officer of Intensity.
“Our talented and hardworking team is the key to our success as a company, and we are dedicated to fostering an environment of excellence, balance, and world-class results.”
Companies from across the county entered the two-part survey process to determine the finalists for this list. The first part of the process consists of evaluating each nominated company’s workplace policies, practices, philosophy, systems, and demographics. The second part consists of an employee survey to measure their experiences. By combining the scores, the top companies and the final rankings are determined.
ATLANTA, August 3, 2021 – Secretariat, the global expert services and litigation consulting firm, today announced the acquisition of international arbitration and dispute advisory firm Versant Partners. The acquisition continues Secretariat’s strategic global expansion and significantly enhances the firm’s damages and valuations capabilities. Together, the two firms are among the most renowned names in international arbitration, both being named in the Top 10 of Global Arbitration Review’s 2021 Expert Witness Firms’ Power Index.
“Versant has rapidly become a formidable player in the world of international arbitration with one of the strongest reputations for quality, service, and knowledge all wrapped into one impressive team,” says Secretariat Managing Director Don Harvey. “When conversations started about bringing our capabilities together, we quickly knew the sum was a whole lot more compelling than the individual parts. I’m ecstatic for what this powerful combination means for our clients and our growing team.”
“We can’t imagine a better fit than Secretariat. Our firms share the same core values, passion for the work we do, and unwavering commitment to providing best-in-class expertise,” says Versant Co-Founder and Partner Kiran Sequeira. “Secretariat’s global reach and complementary service offerings will enhance our ability to solve our clients’ most complex and challenging problems. We look forward to contributing to the firm’s future growth and success as a combined business that is a clear market leader in international disputes.”
Versant was founded in Washington, DC in 2017 by Partners Garrett Rush, Kiran Sequeira, and Matthew Shopp, with Partner Travis Taylor establishing a London office in 2019. The firm’s experts and consultants have been engaged in more than 100 international arbitrations and commercial litigations for claimants and respondents in similar proportions, lending to the credibility of the firm’s professionals as independent, unbiased experts.
“I have watched as a friend, colleague, and competitor as Versant’s practice has grown and flourished over the past five years,” says Secretariat Managing Director Howard Rosen. “I have always admired their professional approach to providing expert work. Their culture and commitment to excellence fits perfectly with the environment we’ve created at Secretariat, and they add impressive damages and valuations talent to our team.”
Originally founded as a construction delay expert services firm, today Secretariat has grown to nearly 300 professionals globally with additional dispute and litigation consulting capabilities in construction quantum, valuations, economic damages, forensic accounting, labor and employment, antitrust, and intellectual property. The Versant acquisition continues the firm’s focus on deepening current capabilities and adding new services, which includes the establishment of the Secretariat Economists practice formed through the acquisition of Economists Incorporated in June 2021.
ABOUT SECRETARIAT
Secretariat is a leading global independent expert services and litigation consulting firm. The firm serves a wide range of international clients, specializing in international arbitration and litigation; economic damages; valuations; forensic accounting; government contracting; and large-scale construction disputes with a focus on delay and quantum analysis. Headquartered in Atlanta, Secretariat operates from multiple offices across North America, Europe, Australia, Asia and the Middle East. The firm has earned several distinctions, including the number two ranking in Global Arbitration Review’s prestigious GAR 100 Expert Witness Firms’ Power Index and “A Best Firms to Work For” from Consulting magazine. For more information, visit secretariat-intl.com, connect with us on LinkedIn, or contact us at info@secretariat-intl.com.
In response to the Federal Trade Commission’s Multilateral Pharmaceutical Merger Task Force Request for Public Comment on competition and merger analysis, Intensity, LLC* was one of 46 comments to be featured by the government taskforce. Managing Director Richard Manning, Ph.D., collaborated with fellow economists Kira Stearns, Ph.D., Kyle Kost, Ph.D., and Richard Brady, Ph.D., to address pricing concerns in the industry.
To download and read the full comment posted by the FTC, please click on the following link: Comment to Multilateral Pharmaceutical Task Force.
*The comment is in response to the Multilateral Pharmaceutical Task Force’s Request for Public Comment. The views expressed therein represent those of the authors and not those of Secretariat or of any other members of the firm. Intensity, LLC was acquired by Secretariat in February 2023.
Intensity receives recognition with four experts included in the 2021 IAM Patent 1000: The World’s Leading Patent Professionals
Intensity joined Secretariat on February 1, 2023.
Four Intensity, LLC, economic experts have been named in the “Patent 1000.” President Dr. Ryan Sullivan was recognized for the eighth consecutive year, along with Managing Director Dr. Steven Schwartz, Vice Presidents Dr. Richard Brady and Aminta Raffalovich, J.D./M.S., as top U.S. economic experts in the 2021 edition of Intellectual Asset Management’s IAM Patent 1000: The World’s Leading Patent Professionals.
The guide noted the growth of Intensity in 2021. “High-stakes commercial and patent litigation is meat and drink to Intensity, which is distinguished by its incredible work ethic, responsiveness, timely delivery and quality of output. There’s no shortage of exciting developments at the firm, which reflect its dynamism in the market: one notable item on the newsreel in early 2021 was the addition of former CRA vice president Steven Schwartz, who joined as a managing director, based in Dallas.” Further, “March 2021 also saw it announce the acquisition of Eurekanomics, bringing more Ph.D. professionals into the fold and giving it a presence in the Bay Area.”
According to IAM, “In terms of case highlights… they don’t get better than providing testimony on behalf VLSI Technology in its March 2021 patent litigation victory over Intel, resulting in a jury award of $2.175 billion. Ryan Sullivan worked with formidable trial firm Irell & Manella to secure this monumental outcome. Sullivan is the president of Intensity and the man behind its rapid ascent: as his results record attests, he is also a dynamite testifier.”
New to the list for 2021, Dr. Steven Schwartz was recognized as “a touchstone economic consultant for nearly four decades.” IAM further stated “Schwartz has testified extensively and in many forums, with a concentration on intellectual property. Intensity is executing superbly on its growth vision, with Schwartz’s arrival one of several which have given the firm an enhanced national presence.”
For the second year, the list includes Dr. Richard Brady and Aminta Raffalovich. Dr. Brady was recognized for his work on numerous complex, high-stakes litigation matters involving intellectual property and contract disputes, with an emphasis on life sciences, biotechnology, and consumer technology. The IAM stated that Dr. Brady “is in his element in disputes involving cutting-edge life sciences developments.”
Similarly, Ms. Raffalovich was acknowledged for her expertise in the application of economics, statistical methods, and legal theory to complex commercial litigation and disputes. The IAM published that she “undertakes her expert analysis work with perfect exactitude. She has profound knowledge of the economics of technology and applies this to great effect in patent cases arising in many theatres of innovation”
The firms and individuals listed in the 2021 edition of the IAM Patent 1000 only made the cut after an extensive research process designed to ensure the guide is the world’s most authoritative and complete
About the IAM Patent 1000
The IAM Patent 1000 is a stand alone publication that identifies individual and firm expertise in all major areas of patent law and practice. Through an extensive research process conducted by a team of highly qualified, full-time analysts, the publication identifies the top patent practitioners, as well as leading patent law and attorney firms, in 48 of the world’s most important jurisdictions and 18 US states.
Addition creates a new Economists practice to support continuing diversification and growth in US and international litigation consulting markets
ATLANTA, July 1, 2021 – Secretariat, the global expert services and litigation consulting firm, today announced the acquisition of Washington, DC based Economists Incorporated (Economists Inc), a premier consulting firm in microeconomics, law and economics, public policy, and business strategy. With the acquisition, Secretariat expands its offerings with the creation of a new Economic Analysis, Analytics & Strategy practice, welcoming more than 50 professionals.
Both Secretariat and Economists Inc are recognized and respected in the litigation consulting market for the highly specialized and complementary services the firms provide. The acquisition further diversifies Secretariat’s offerings and adds expertise in an important new practice line. The firm will invest in growing the practice’s team of industry leading economists both in the US and internationally.
“The complexity and pace of change in today’s disputes and litigation landscape is immense. For a firm like Secretariat this means growing our capabilities becomes even more important. We have been looking to expand into economic consulting and advisory services – and I’m thrilled to say welcoming EI into the Secretariat family couldn’t be a better fit,” says Secretariat Managing Director Don Harvey. “The depth of expertise and quality the Economists Inc team brings is second to none. And, perhaps most importantly, when we had a chance to look closely and see how our teams would work together, the similarities in culture and shared values became obvious.”
Since its founding in 1981 in Washington, DC, Economists Inc has been engaged on numerous high-profile litigation matters and economic consulting assignments. Today, Economists Inc provides industry-leading expert testimony and consulting services in high-stakes engagements across numerous areas of expertise, including M&A, antitrust, labor and employment, spectrum auctions, energy regulation, and commercial litigation, among others. The firm is regularly engaged by AmLaw 200 law firms, Fortune 500 companies and global corporations from nearly all industries, government agencies, and trade associations in prominent, multi-billion-dollar matters. Many of the firm’s economists earned their Ph.D’s from the most notable universities in the world of economics, including MIT, Harvard, Princeton, Stanford, U.C. Berkeley, Yale, and the University of Chicago. The Economists Inc acquisition will expand Secretariat’s key Washington, DC office and add new offices in San Francisco, CA and Tallahassee, FL.
“The opportunity to join a firm with Secretariat’s impeccable reputation and caliber of talent does not present itself often,” says Economists Inc President and CEO Jonathan Walker. “As we looked at ways to elevate our service capabilities, expanding our international reach and accelerating our recruitment efforts were foremost in our minds. The benefits of bringing Secretariat’s and EI’s services together became evident right from the start of our conversations. The combination will open new doors for EI professionals in areas like international arbitration and it will bolster Secretariat’s presence in the domestic US litigation market.”
Effective immediately, Mr. Walker and the Economists Inc Principals will serve as Secretariat Managing Directors in its Economists practice.
ABOUT SECRETARIAT
Secretariat is a leading global independent expert services and litigation consulting firm. The firm serves a wide range of international clients, specializing in international arbitration and litigation; economic damages; valuations; forensic accounting; government contracting; and large-scale construction disputes with a focus on delay and quantum analysis. Headquartered in Atlanta, Secretariat operates from multiple offices across North America, Europe, Australia, Asia and the Middle East. The firm has earned several distinctions, including the number two ranking in Global Arbitration Review’s prestigious GAR 100 Expert Witness Firms’ Power Index and “A Best Firms to Work For” from Consulting magazine. For more information, visit secretariat-intl.com, connect with us on LinkedIn, or contact us at info@secretariat-intl.com.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
Intensity continues to expand the leadership team with the addition of Dr. Stan Panis. Dr. Panis brings over 20 years of expertise in healthcare, pensions, employment, big data, and damage calculations to the firm.
Intensity joined Secretariat on February 1, 2023.
Intensity, LLC, an economic consulting firm known for influential research and in-depth analysis, announced today the hire of Managing Director Dr. Stan Panis, based in Los Angeles, CA.
Dr. Panis is an economist and statistician with deep expertise that will augment Intensity’s strong credentials in healthcare, pensions, big data, and damage calculations. He has been retained by leading law firms and U.S. government agencies, and has served as an expert witness in healthcare, labor, and class action cases.
“It is my pleasure to join the Intensity organization,” Dr. Panis said, “Intensity has a fantastic team of economists and analysts. I am excited about the sophisticated support team that Intensity has built and which aims to result in the best work product possible.”
Patrick Sanders, CEO of Intensity, expressed enthusiasm for the new expertise that Dr. Panis adds to Intensity’s service offerings. The new position aligns with the company’s growth strategy of expanding service offerings while preserving exceptional service and outstanding work product values.
“As far as experts are concerned, Stan brings a unique perspective to our firm. His deep experience studying healthcare and pensions for attorneys and federal agencies, paired with his extensive statistician work, make him a tremendous asset to our expert offerings. I am looking forward to what he and the Intensity team will accomplish together.”
Prior to joining Intensity, Dr. Panis was a principal with Advanced Analytical Consulting Group and a Senior Manager with the Economic and Statistical Consulting group at Deloitte. He served nearly two decades with The RAND Corporation, most recently as Senior Economist. Dr. Panis co-founded and led EconWare, a successful company that developed statistical software to disentangle causality, reverse causality, and selection effects in economic models. He also served as faculty at the University of Southern California and the University of California at Irvine, teaching undergraduate and graduate statistics, econometrics, and economics courses.
Dr. Panis has published more than 20 books and articles in the Journal of Health Economics, Journal of Public Economics, Journal of Human Resources, Medical Care, Health Affairs, Health Policy Research, and many other professional journals.
Dr. Panis earned an M.A. and a B.A in Economics from the University of Groningen in the Netherlands. In addition, he earned his Doctor of Philosophy in Economics from the University of Southern California.
Intensity joined Secretariat on February 1, 2023.
The $33 billion toy business relies on intellectual property, whether that means licensing agreements for big-screen movie characters or an obscure inventor’s idea for the next Rubik’s Cube.
Unfortunately, where there is intellectual property, there are also disputes over who owns it and how much it is worth. Intensity’s new managing director, Jennifer Vanderhart, brings years of experience in the trenches of the toy wars to evaluate claims over misappropriated intellectual property, contract disputes, and the true value of this season’s must-have plaything.
“I find the toy industry to be both fun and dynamic. It routinely offers me the opportunity to bring a strong economic perspective to complex disputes. I am excited to work with Intensity’s team of highly skilled economists and to continue to grow Intensity’s presence in the industry.”
— Dr. Jennifer Vanderhart
A Ph.D. economist who studied and taught at Texas A&M, Dr. Vanderhart has more than 20 years’ experience evaluating economic damages as well as helping clients negotiate license and royalty agreements. These agreements are crucial in the toy industry, which depends on a constant flow of new ideas to entice children with the next generation of Nerf Blasters, Play-Doh, and Rainbow Looms.
Much of the content the toy industry depends upon comes from film studios and publishers who license their characters to toymakers in exchange for royalty revenue. Sometimes there are disagreements over this valuable intellectual property, leading to disputes like when Hasbro sued DC Comics to block sales of Mattel dolls and Lego sets featuring an action figure named Bumblebee.
Both companies claimed rights to the name, DC Comics having called a female superhero Bumblebee starting in 1976 and Hasbro having created a Transformers character named Bumblebee and trademarked the name for use in consumer goods in 2015. The Hasbro toy line spawned a multibillion-dollar movie franchise, with one of the most popular being Michael Bay’s Bumblebee released in December 2018.
The Hasbro/DC Comics case ultimately settled, but expert opinions were critical both in pretrial preparation and in settlement negotiations as the companies fought over who owned the intellectual property at the heart of the dispute and what it was worth.
Big toy manufacturers also face frequent challenges from inventors who submit ideas by the thousands, hoping that they have come up with the next Monopoly, Slinky, or Super Soaker. While the toy industry relies on these outside inventors for many of their successful products, manufacturers also must defend themselves against lawsuits over ideas they had already independently developed.
With expertise in applied econometrics and microeconomic analysis, Dr. Vanderhart has helped clients determine the value of the intellectual property embodied in a toy. Disputes over royalty payments, inventor claims, patent disputes, and copyright violations, among others, require detailed economic calculations to determine the correct amount of damages.
The toy business is highly seasonal and often driven by short-term trends, complicating the task of estimating how many units will sell or what a licensing agreement is worth. For every Monopoly offering a seemingly endless stream of annuity payments, there are hundreds of Pet Rocks that soon will be worth less than the cost of shipping.
Expert economists must consider these and other factors before providing an opinion about the value of the intellectual property underlying a disputed toy or toy idea.
Before joining Intensity, Dr. Vanderhart founded and led the IP Practice at Analytics Research Group. She has also held positions at several economic consulting firms and was an instructor at Texas A&M University in the Economics and Management departments. She has published on the subjects of valuation, damages, and intellectual property and frequently speaks on these topics at conferences and lectures. Her diverse client list has included Hasbro, American Mensa, Tristar Products, Under Armour, Samsung, Barilla, and others.
Dr. Vanderhart is a member of the American Economic Association, the American Society of International Law, and the Licensing Executives Society of which she is vice-chair for the D.C. Chapter. She is also an associate member of the American Bar Association, where she chairs the Intellectual Property Litigation subcommittee of the Commercial and Business Litigation Committee.