Technological change is certain and innovation is critical if a business wants to continue to realize value from its assets and efforts. One example of technological change and adaptation is the record player. As the size of the record player evolved, old 45 rpm records could no longer be played as the large center hole no longer fit snugly to new record players. To “adapt” old records to the new record player technology, the former RCA Corporation introduced a snap-in plastic insert known as a “spider adapter” to make 45 rpm records compatible on almost any record player.
Commissioned by RCA President David Sarnoff and invented by Thomas Hutchison, spider adapters simply snapped into the center of the 7” record. Sales for the device exceeded tens of millions per year.
The lesson is clear and thus the inspiration in creating Adapt IP Ventures. Technological advancement, although sometimes incremental, is critical. We serve as a catalyst to drive growth through the transfer of patent rights. Adapt IP Ventures evaluates and markets complex IP assets to realize financial value for our clients. Our team is technically and financially aligned to maximize the return on your IP investment.