An Economic Catalyst for Boston and New York

Article | May 26, 2021

Unless America and China assume joint leadership for global economic recovery, reconstruction of the post-coronavirus world could take years, with unimaginable consequences for the world’s 7.8 billion inhabitants, including unprecedented levels of global unemployment, famine, and even war. In the pre-coronavirus world, suggestions for a partnership between the world’s two superpowers would have been met with gales of laughter. But now, despite the two leaders’ daggers drawn posture, hundreds of doctors and scientists in the U.S. and China are already working together on clinical trials of potential coronavirus drugs; and one of China’s biggest property developers has funded a five-year $115 million project between Harvard University and the Guangzhou Institute for Respiratory Health. But the window of opportunity for acting together is short. The Covid-19 pandemic continues to decimate the world’s economies. Unemployment in the U.S. now tops 22 million, a level not seen since the great-depression of the nineteen-thirties; while China’s economy stopped growing for the first time in four decades as half a million small and mid-size businesses, the backbone of China’s economy closed; and Italy, the second largest manufacturing economy in the EU watches helplessly as the pandemic axe dismembers its economy. Were India and Africa were unable to control the coronavirus the results could be catastrophic. So, are there issues of such import and mutual benefit that they would convince President’s Trump and Xi Jinping to work together? I believe there are. My two cents worth below. The two superpowers could leverage China’s vast, trillion-dollar global infrastructure project—the Belt and Road Initiative or BRI, that aims to build infrastructure in over 120 countries of Asia, Europe, and Africa. The BRI is designed to act as a conveyer belt to transmit Chinese investment and technology into these countries to improve their economies, and to link them to China. But now Covid-19 has crimped China’s ability to sustain BRI’s trillion-dollar underwriting tab and President Xi Jinping’s grandiose vision is at risk. On the other hand, the United States, which has been searching for a counter to BRI, has settled on an initiative called the Blue Dot Network or BDN. The idea behind the BDN is the U.S. would rigorously vet infrastructure project applications in developing countries to ensure high levels of transparency, sustainability, and economic viability before seeding them with startup funds from the U.S. Government. The BDN hallmark would then inspire confidence in the projects to attract private U.S. funding. But the relatively paltry BDN budget of $60 billion (versus China’s 1000 billion or trillion-dollar BRI budget) and developing countries’ skepticism of Western (read U.S.) dominated standards for infrastructure construction have hobbled the BDN. If the U.S. and China could find a way to combine BRI and the BDN it would ensure a stream of dollars from private U.S. companies into BRI and ensure its projects remain on track to create jobs and raise living standards around the world. The compromises required by America and China to weld BRI and BDN together would ensure the U.S. gets a seat at the table to influence the adoption of standards for starting and executing BRI projects. Here’s another idea: The U.S. military is especially qualified to help fight natural disasters. In 2004, for instance, 3,000 U.S. military personnel were deployed to West Africa to help combat a deadly Ebola epidemic. Their work included constructing 17 hospitals, field training, and deploying assistance by air to remote villages. Today the U.S. military is being used to rapidly set up hospitals in U.S. cities to handle the burgeoning coronavirus caseload. The People’s Liberation Army meanwhile seems determined to play a more active global role in peace-keeping projects around the world. Coronavirus-aid projects delivered to less-off countries through joint U.S.-China military teams would double what the U.S. and China could do on their own. And help establish the military to military connections that the U.S. has tried to foster with China for some time. A working relationship between the two nations’ militaries might even lead to a more stable geopolitical balance of power. The Chinese word for crisis contains two characters. One signals danger, the other opportunity. Presidents Trump and Xi Jinping should boldly find a way to join forces to convert the deadly Covid-19 crisis into an opportunity that would supercharge global economic recovery and might well change the course of the 21st Century. It is a once in a lifetime opportunity that ought not to be squandered.

Emerging Technology

Article | July 13, 2022

The United States Patent and Trademark Office (USPTO) issued its 10 millionth patent number in June 2018 and continues to go strong. In fact, according to a PatentlyO.com-published report, “We are about three-fourths of the way through fiscal year 2019 (ends September 30, 2019) and the USPTO is on-track to issue the most patents ever in a single year period,” with the author forecasting, “330,000 issued utility patents, which is up about five percent from the prior one-year high in 2017.” While these kinds of milestones have created much ado about patents that have changed the world, including a number of popular culture pieces, the unfortunate truth remains that a great number of organizations don’t really understand how powerfully advantageous a tool patents can be. As the pace of patent filings quicken—noting that it took fully 121 years to issue the first million patents but only three years to move from nine to ten million—businesses that understand how to analyze, identify and capitalize on various intellectual property (IP) trends can dramatically hasten and increase value creation, and valuation, within their companies. This is according to patent attorney and IP authority JiNan Glasgow George, a former USPTO patent examiner and engineer turned entrepreneur who launched the Magic Number Patent Forecast software —a comprehensive intelligence tool leveraging machine learning to uncover silent trends sweeping the business landscape, revealing who is filing patents, when and in what sectors. With this kind of AI-driven data, organizations can easily detect early-stage shifts and pinpoint other trends and marketplace insights to give companies a tremendous competitive edge. “Intellectual property is not just an idea, concept or invention, but rather a financial asset that can render tangible results,” JiNan notes. “Organizations need to shift their mentality away from patents being seen as merely a way to protect their own idea and, instead, regard them as a means to grow a business and create wealth through intellectual property-driven analytics and key business assets that drive revenue. This can include analyzing the competition through a uniquely telling lens, deciding which products to build next, identifying 'white space' industry opportunity and more.” After more than two decades managing legal matters pertaining to patents and trademarks, JiNan has helped hundreds of entrepreneurs and innovation-based companies understand how to parlay patents into assets that give them an edge. Below are three of her key reasons why analyzing patent trends can pay off in a big way: 1. Enhanced Competitive Intelligence. Did you know that large banking institutions like Bank of America and payment card companies like Mastercard and Visa hold large amounts of patents in cryptocurrency? Or that a pharmaceutical company is the leading patent owner in the cannabis sector? Or that consumer sleep is among the newest IP-heavy categories, with Apple emerging as a primary player? Or that early stage companies such as Luminar may be outpacing automotive giants? “Because investment in patents always leads market activity, we can see investment trends before they’re visible in market activity,” JiNan explains. “Every sector contains strategic insights that can translate into mission critical assets. We also find evidence of investment that might seem contradictory—like a major bank investing heavily in its supposed competitor: cryptocurrrency. It’s data science that allows companies to predict the next waves of innovation within their particular industries and markets.” 2. Drastically Increased Valuation. IP isn’t just for tech and consumer product companies, as even service businesses can pursue IP protection through patents, trademarks, copyrights and trade secrets. Unfortunately, many businesses are highly undervalued because the owner or executive has not created any IP or cultivated what they have. This is a grave error given that IP plays a huge role in an entity’s valuation. In fact, IP is the one thing that impacts the valuation multiple beyond the profitable business, itself. As such, using trend data to determine with greater accuracy how and where to allocate IP-related resources is key, as “getting it right” can be a significant boon to the bottom line. “Some start-up companies I’ve worked with have IP portfolios that are more efficient and valuable than large corporations in the same markets,” JiNan notes. “That gives them a high valuation—a vital factor also making these companies attractive targets for investors, mergers and acquisitions. Some companies invest a lot in patents that ultimately are not very valuable, while other companies file for inventions that yield significant returns. The profitable ones can produce impact that multiplies their IP investment—even early stage companies can have IP valuations that are $10 million, $50 million, even $100 million or more. A data-driven IP strategy that considers present inventions in market context can create a five times or more increase in valuation.” 3. Maximized First Mover Advantage. Prior to 2013, the first to invent was entitled to patent rights. The current system—established through the Leahy-Smith America Invents Act—is a “first-to-file” system, meaning that patent rights are given to the first person or entity to file an application whether or not they were the first inventor of the technology, product or service. With access to patent trends and other IP-driven data, companies can not only make smarter investments and develop better strategies to target emerging markets, but also aptly identify underserved or even entirely unexploited facets within those markets. “Patent data offers huge insight into who is investing in what kind of technology and where and how those funds and efforts are being allocated, long before commercial activity,” JiNan says. “Any company preparing to enter a new market will leave evidence of their intentions in areas that represent opportunity. If you are looking to capitalize on gaps in the market, it’s important to remember there’s no second place in patents—you need trend data to be continuously updated and analyzed. The companies and individuals who profit most from intellectual property are often not the ones who initially created it. ” According to JiNan, one of the most significant areas of opportunity loss for entrepreneurs and corporate executives is a lack of understanding of patent strategy and undervaluing the pursuit thereof. Because p atents are often the highest value intellectual property assets, she asserts that having an inside track on this kind of activity—and taking proactive measures to interpret and capitalize on that data—can be a real game-changer for an organization. Ways to gain that “inside track” as well as other ways to maximize patent ROI and profit from your IP endeavors will be explored at the annual Eclipse IP Conference this October in Cary/RTP, North Carolina. Founded in 2013, Eclipse brings together global thought leaders in IP to discuss best practices in patent investment, with this year’s theme being “Own Your Zone, Leveraging IP to Increase Marketshare.” These days, it’s not just about procuring the data. It’s what you strategically do with that data that really counts. The conference includes the likes of New Orleans Saints all-time yardage leading wide receiver Marques Colston, supply chain expert Irfan Khan, Eugene Gold (who grew his business by a staggering 4,400%) and bestselling author Randy Nelson. With patents among the most important and valuable assets a business can hold, said to serve as “the lifeblood of innovation,” when employed well they can proffer a remarkable return on investment—especially when facilitating market, category or process exclusivity. With JiNan’s insights above, it’s clear that deciphering and mapping early-stage patents and market data can be a powerfully effective means toward this end.

Cybersecurity

Article | March 23, 2022

COVID-19 hit the construction industry like a tsunami. Almost all medium to large construction projects were shuttered as government leaders scrambled to protect the health of Americans. Today, however, even though the pandemic has not been contained, there is renewed interest in construction and reason for optimism. The immediate future is considerably brighter today than it was three months ago. Although construction projects are moving slower and fewer new ones being launched, there is definite movement. One year ago, construction projects were so abundant industry leaders warned of imminent danger related to America’s shortage of skilled construction workers, designers, and engineers. Those alarms are not as loud today, but that could change soon because new projects are being announced on a daily basis throughout the country. Officials at the Tampa International Airport placed approximately $906 million in construction projects on hold, but there’s little doubt that construction will begin again in the not too distant future. Air travel is down more than 95 percent, and urgency for planned expansions and upgrades is not as great. Many colleges and universities also have delayed projects. In fact, the University of Nebraska-Lincoln (UNL) put a two-year halt on construction planned for this month. A $155 million football facility near Memorial Stadium is delayed primarily because university officials anticipate a $50 million budget shortfall. There’s also uncertainty about when sports events can resume. But, more positive news may definitely be found in almost every state in the U.S. Here are just a few examples of upcoming construction projects in America. Louisiana The Louisiana State Legislature has approved $529 million for construction on university campuses. The University of Louisiana at Lafayette plans to spend $187,700 to repair Fletcher Hall and $16.4 million to renovate Madison Hall. Northwestern State University will receive $37.4 million for construction related to Kyser Hall. Louisiana Tech University plans to spend $40.5 million for a number of campus improvements, and Louisiana State University (LSU) has $227.7 million for construction projects. Southern University in Baton Rouge has planned renovations and expansions for about $18.2 million. North Carolina Wake County has approved a $1.47 billion budget and Capital Improvement Plan (CIP). It outlines construction projects at Wake Technical Community College that include new buildings on many campuses. One project outlined in the CIP is a new Emergency Operations Center, and other projects include a new Public Health Center, construction of training space at the Board of Elections Center, facility upgrades at Human Services Sunnybrook, a Facility Condition Assessment program, and vacant space build out for housing at Oak City Multi-Services Center. Missouri On June 2, North Kansas City Schools received approval for a $155 million zero-tax increase bond issue. Lee’s Summit voters also approved a new $224 million bond issue for various infrastructure projects in the R-7 School District. Some of the construction projects include a fourth middle school facility and renovations to the three existing middle school facilities. Voters approved a no-levy-increase bond question for $25 million for improvements to district facilities at Belton School District 124. Wisconsin The city of Sun Prairie has approved its 2021-2023 Capital Improvement Plan that includes many construction projects. The funding includes $7.4 million for phosphorous treatment and plant capacity upgrades at the Water Pollution Control Facility and $2.1 million for Sun Prairie Utility’s Business Park Substation expansion. Unfunded projects for 2021 include $3 million for a library expansion, a public works campus, and a Grans-Hepker intersection expansion. In 2022 the city will spend $7.4 million on street reconstruction. Another unfunded project for years 2022 and 2023 is a $5.7 million bathhouse renovation. New Jersey The New Jersey Turnpike Authority and the South Jersey Transportation Authority approved a toll increase to fund approximately $25 billion in construction over 10 years. Projects include the widening of 15 different sections of a turnpike, the replacement of a bridge between New Jersey and Pennsylvania, and upgrades to roadway tolling stations. The plan also calls for widening of a 13-mile section of the Expressway, construction of a direct connector to the Atlantic City Airport and installation of cashless toll equipment. The governor announced plans this week to develop an offshore wind port on an artificial island along the Delaware River, potentially giving the state a competitive edge in the race to attract offshore wind jobs and manufacturers. The project would be unlike anything yet proposed in the U.S. and its cost could be as high as $400 million. The New Jersey Economic Development Authority will lead development of the port with the hope of creating thousands of high paying jobs and establishing New Jersey as the national capital of ‘off shore wind’. Texas The Capital Area Metropolitan Planning Organization (CAMPO) Transportation Policy Board adopted a 2021-2024 Transportation Improvement Program (TIP) that has numerous major construction projects. It includes $633 million for the I-35 Capital Express project which will be sponsored by the Texas Department of Transportation (TxDOT). The TIP also outlines transportation plans from regional transportation entities including TxDOT-Austin District, Capital Metro, Capital Area Rural Transportation System, and other local sponsors that have federally funded or regionally significant projects. One project the board chose to maintain is construction of two lane frontage roads on U.S. Highway 183. That project is projected to cost approximately $75 million. Other projects in the CAMPO plan are: Slaughter Lane widening to six lanes from Brodie Lane to N. Mopac Expressway – $15.73 million; William Cannon widening to four lanes from McKinney Falls Parkway to Running Water Drive – $14.69 million; Braker Lane extension from Samsung Boulevard to Dawes Place – $14.05 million; University Boulevard reconstruction and widening to four lanes from County Road 110 to A.W. Grimes Road – $7.88 million; Gattis School Road Segment 6 widening to six lanes – $11.38 million; RM 967 widening from Oak Forest Drive to FM 1626 – $5.32 million; FM 621 widening from CR 266 to De Zavala Drive in Hays County – $5.1 million; SH 180 left turn lane installation and elimination of shoulder gap – $2.05 million; and, Hopkins Multi-use Bike-Pedestrian Facility construction – $2 million. Construction, engineering, architectural, and design firms will, no doubt, find immediate opportunities to contract with public officials. Additionally, as Congress begins to take up the task of developing an infrastructure bill, it is clear that construction projects will be hailed as the fastest way to stimulate the nation’s economy – a goal that has bipartisan support in America. Mary Scott Nabers is president and CEO of Strategic Partnerships Inc., a business development company specializing in government contracting and procurement consulting throughout the U.S. Her recently released book, Inside the Infrastructure Revolution: A Roadmap for Building America, is a handbook for contractors, investors and the public at large seeking to explore how public-private partnerships or joint ventures can help finance their infrastructure projects.

Article | June 19, 2020

The House of Representatives laid out an infrastructure plan on June 18 – an expensive one with a price tag of approximately $1.5 trillion. It will not, of course, pass Congress in its current state, but it promises to start the critical and overdue conversation in Washington about infrastructure. But, there’s an omission that hopefully will be addressed and debated in Congress. The new plan makes little mention of funding for America’s outdated public technology infrastructure. Yet, the nation’s technology is a critical component of its infrastructure. Some leaders hope to make Congress aware of the challenges public officials face as they try to manage with old legacy technology systems that should have been replaced a decade ago. Broadband will likely be addressed, but all kinds of other technology assets need attention as well. When taxpayers think about what infrastructure should include, there is not a consensus. Roads and bridges are certainly considered as public assets and will be included in every discussion of infrastructure. Water, power, schools, health care, and even the Postal Service are named in the new plan that passed the House of Representatives. But, the new bill, which is called the Moving Forward Act, does not mention government’s basic technology infrastructure. One definition of infrastructure is “the basic physical and organizational structures and facilities needed for the operation of a society or enterprise.” Surely, technology falls into that category. There’s no argument that America’s global economic future depends on its technology infrastructure as well as its transportation infrastructure. But, public officials in governmental entities throughout the country attempt to provide services on old legacy systems that are decades past replacement stages. Public databases and networks are vulnerable to cyberattacks. The technology found in cities, counties, school districts, and governmental agencies is more than old and inadequate it is simply unreliable and in some instances could be considered dangerous. In a world of ‘big data’, artificial intelligence, cloud computing, apps, the Internet of Things (IoT), and extreme security requirements, government technology assets lag too far behind in America. Public officials don’t have funding to replace the antiquated technology systems. As Congress debates infrastructure reform, technology should be a part of the conversation. Those in agreement that the national debt does not need another $1.5 trillion hit may advocate for ways to encourage private sector funding for the many needs of infrastructure. Collaborative initiatives could be structured in the final infrastructure bill so that there are incentives for alternative funding and private sector expertise, as well as guidelines to protect taxpayers and public agencies. The inclusion of technology needs in any infrastructure discussion is, at the very least, worthy of discussion. Mary Scott Nabers is president and CEO of Strategic Partnerships Inc., a business development company specializing in government contracting and procurement consulting throughout the U.S. Her recently released book, Inside the Infrastructure Revolution: A Roadmap for Building America, is a handbook for contractors, investors and the public at large seeking to explore how public-private partnerships or joint ventures can help finance their infrastructure projects.