Immersion Corporation (NASDAQ: IMMR) is the leading innovator of touch feedback technology, also known as haptics. The company provides technology solutions for creating immersive and realistic experiences that enhance digital interactions by engaging users’ sense of touch.
With more than 3,000 issued or pending patents, Immersion’s technology has been adopted in more than 3 billion digital devices, and provides haptics in mobile, automotive, gaming, medical and consumer electronics products. Headquartered in San Jose, California, Immersion operates across the world and has licensees in North America, Europe and Asia. The company has market cap of $306 million and employs 80+ employees in 9 locations in the US, Canada, China, Korea and Japan. In 2018, Immersion generated $100 million revenue in the first nine months, indicating an impressive three-fold increase compared to the previous year.
Immersion haptics technology is young and highly versatile with unlimited potential. It has enabled hearing and deaf audiences to feel the rich nuances of music via the skin, as well as improving the quality of life for those affected by motor-related issues. As virtual reality grows from a $7.9 billion market in 2018 to one that is expected to reach $34 billion by 2023, the ability to touch and experience virtual worlds will transform the sector. Immersion is well positioned to work with developers and inspire them with the technology and the tools they need to implement high quality tactile experiences on the latest generation of hardware.
As part of Immersion’s long-term growth strategies, the position of Director/Senior Director of IP Licensing & Business Development has been newly created to fully capitalize on the many growth prospects ahead. Working within the Sales/ Business Development function, the appointed person will drive, formulate and execute Immersion’s IP licensing strategy. The key responsibilities will include the following:
• Manage revenue and P&L for IP licensing at Immersion;
• Collaborate with Immersion’s executive management on all IP licensing elements of Immersion’s technology and IP business strategy;
• Develop stand-alone IP offerings and pricing;
• Identify and capture potential IP licensing opportunities;
• Lead and support origination, negotiation and execution of patent licensing agreements, as well as patent acquisition and sale transactions with third parties;
• Provide commercial advice and counselling to the Immersion’s executive management, business functions and the legal team on all aspects of IP licensing;
• Work closely with Immersion’s sales organization to support customer offerings as well as develop an integrated monetization strategy.
The successful appointee will enjoy a dynamic and inspiring work environment, the potential to grow the function significantly beyond its current scope and size, as well as having the autonomy to shape his/her role. As this is a “greenfield” project, the candidate must have an entrepreneurial spirit and leadership potential.
The successful candidate will ideally be or possess:
• 8+ years of IP licensing experience;
• An excellent educational background to degree level or beyond in Engineering, Business or Law; MBA and/or JD is highly desirable;
• Experience with business development in a sophisticated global matrix organization;
• A proven and successful track record in concluding significant licensing contracts;
• Experience with licensing and deal creation, business plan development, contract negotiation, and external relationship management;
• Highly self-motivated, creative, coupled with a “hands-on” flexible approach to problems and demands, with the ability to thrive on challenge and react quickly and positively;
• A willingness to travel 25 to 50% of the time.