Court case, page-14

Hi Serendipity,

IPH was to pay 11 million for Callinans. The recent financials show a $900k reduction presumably due to the loss of Halliburton and other clients.

According to a patent attorney, IPH Fisher Adams Kelly Callinans filed 1130 national phase applications in FY15. Of these 302 were in the name of Halliburton or Landmark Graphics, subsidiary of Halliburton, and they have been transferred to a competitor RB Rice, approx. 27% of the patent cases.
I understand Callinans filed less than 800 patents in FY15. It appears that Halliburton was about 40% of the client base.
If J&J is on the move then it is a similar sized client. Apparently they share J&J with Xenith and Freehills.
To be fair Callinans is only small part of the overall valuation of IPH. Even if it is all written off I don't see that much of an effect.
The Trans-tasman thing is a concern and it is my understanding it will happen sometime this year.
However, the attorney said I missed the elephant in the room, ePCT national phase. I will do some research and post it later.