One of the major ways in which debt is paid back.
TC: Years ago, you told me that Sherwood had begun selling a lot of intellectual property. At the time you’d even created a new company called Agency IP in Mountain View around the auction of IP. Is that still what you’re primarily focusing on when you unwind startups?
MP: We sell a lot of patents, maybe more than anyone else. Usually, the only way to pay back [lenders’] loans is to sell the patents. So people aren’t paying what the company would have been worth but usually enough to pay back that secured debt.
