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  "documentTitle": "Tessera Technologies Inc. (TSRA)",
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      "text": "The IP market has grown substantially over the past two decades with global IP licensing revenues in excess of $200 billion annually. Patents owners are realizing that their assets have little value sitting idle. Patents now viewed as both a defensive tool for product producers and a source of profit generation. As a result, patents have emerged as an asset class and are driving new business models to address the market needs. Public market liquidity models have emerged and led to significant investor interest in IP companies. Headline IP transactions have driven greater familiarity with the concept of patents as an emerging asset class. Tessera was early to the market as a standalone IP licensing company (IPO in 2003), but several missteps have led to missing an opportunity to transfer its IP expertise into a greater role in the emerging IP market. If proper change is made, Tessera has the opportunity to refocus its business and take advantage of a large market and growing demand for IP expertise and licensing capabilities.",
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