Financial Opportunities in Consulting
Indiana University
Professional Opportunities Orientation Program
September 25, 2001
Presented by:
Brian Oliver
Laura Bissett
Sarah Leinweber
www.intecap.com
Introduction to InteCap
 InteCap is the first consulting firm to launch an
integrated practice dedicated to helping companies
manage and extract value from their intellectual
property
 Thirteen offices with approximately 200 consultants
with backgrounds in accounting, finance, and
economics
 InteCap clients are leading corporations, law firms,
high-tech start-ups, individual inventors, and providers
of capital involved in “IP-rich” transactions.
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Presenter Backgrounds
 Brian Oliver, Managing Director
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Graduated with a B.S. in finance from Indiana University (1992)
Started his career at InteCap (formerly IPC Group) as an Analyst
MBA from Northwestern’s Kellogg School of Management (1996)
Worked in investment banking and private equity industries
Rejoined InteCap in 1999
 Laura Bissett, Analyst
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Graduated with a B.S. in finance and marketing from Miami University (2000)
Joined InteCap as an Analyst
 Sarah Leinweber, Human Resources Manager
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Graduated with a B.B.A. in finance and marketing from University of
Wisconsin-Madison (1997)
Joined InteCap as an Analyst
After two years moved into the human resources department and is currently
responsible for the firm’s national recruiting efforts
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Introduction to Financial Consulting
 Who are financial consultants?
 What do financial consultants offer their
clients?
 In what types of projects are financial
consultants engaged?
 What are typical tasks performed during the
course of an engagement?
 Self-assessment
 Financial consulting as a career platform
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Who are Financial Consultants?
Financial Services
Litigation Support
Investment Consulting Services
Intellectual Asset Management
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What do Financial Consultants Offer
Their Clients?
 Specialized expertise
 Outsourcing/resources
 Fresh perspective
 Objective third party opinion
 Quick turn-around
 Focused attention
 Structured solutions to unstructured problems
 The “why” behind the numbers
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In What Types of Projects are
Financial Consultants Engaged?
Litigation What the value should have been
Valuation What the value is
Strategy What the value could be
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What are the Results/Deliverables of
These Projects?
Litigation Expert report, analysis, and testimony
Written report, analysis, and
Valuation presentation
Written assessment, recommendation
Strategy and implementation
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Litigation Case Study
As the Saying Goes…
“Make a better mousetrap
and the world will beat a
path to your door.”
Ben Franklin
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Litigation Case Study
Patent Infringement Damages
The Infringers
The Patent
Infringer 1
A Better
= Mousetrap!
Infringer 2
Infringer 3
What is the economic injury
to the patent owner?
Lost Sales
Depressed Prices
Opportunity Cost
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Litigation Case Study
The Role of an Analyst
 Participate in team meetings to discuss overall
approach to assignment
 Review client documents
 Perform industry research
 Research and compare established royalty
rates
 Build financial models
 Perform quality control
 Create trial exhibits
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Valuation Case Study
Trademark Valuation for Tax Purposes
 Retained by a global manufacturer of
household appliances to perform a trademark
portfolio valuation
Total Enterprise Value
100%
56%
Total Value of Intangibles
56%
Other
Intangibles
Value
32%
Fair
Market
Value
24%
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Valuation Case Study
The Role of an Analyst
 Participate in brainstorming discussions with
team members
 Research comparable companies in the
industry
 Forecast cash flows and prepare a cost of
capital analysis
 Prepare a valuation report/narrative
 Create graphical presentations of financial
analysis
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Strategy Case Study
IP Portfolio Evaluation
Client dilemma
Consultant hired to evaluate
strategic options
License to others
How can we extract
value from our
non-strategic technology?
Sell outright
Spin-out as new company
Donate to a university
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Strategy Case Study
The Role of an Analyst
 Conduct a search of all patents assigned to
client using internal and external resources
 Perform patent mapping analysis
 Assess potential market opportunities to better
understand the effects of commercialization
 Perform a competitive technology assessment
 Develop a licensing strategy, including a
valuation analysis
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Self-Assessment
Would you Enjoy Being a Financial Consultant?
Do you prefer . . .
 Structured environment?
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Unstructured environment?
 Finance only?
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 Concentrate in a single
industry?
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Finance, marketing, economics,
accounting?
Variety of industries?
 Compartmentalized work?

Team work?
 Functional work?

Project work?
 Corporate culture?

Consulting culture?
Other financial career
Financial consultant
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Consulting as a Career Platform
 Various skills acquired as a financial
consultant
 CPA, CFA, MBA opportunities
 Client contact and industry exposure
 Foundation for many other careers
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Consulting as a Career Platform
Examples of InteCap Careers
Consulting: Managing Director, InteCap
Investment Banking: Managing Director, Bear Stearns
Marketing: Brand Manager, Procter & Gamble
Sales: Account Executive, Warner Lambert
Graduate School: MBA - Kellogg, Chicago, UCLA, etc.
Law - Michigan, UVA, Wisconsin, etc.
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In Summary...
Financial consultants provide:
Clients with…
 expertise and objectivity
 creative solutions
 clarity and structure
Consultants with…
 use and development of a wide range of skills
 broad career platform
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