Pendrell Corporation, through its wholly-owned subsidiary, Pendrell Technologies, Inc., focuses on operating as an integrated intellectual property (IP) investment and advisory company that develops and implements IP management and licensing strategies for its partners and clients. IP Licensing The company, in October 2011, acquired 90.1% of the outstanding capital stock of ContentGuard Holdings, Inc. (ContentGuard). ContentGuard holds a foundational portfolio of approximately 260 issued patents and 160 pending patent applications relating to key digital rights management (DRM) inventions. Inventions represented by ContentGuard’s foundational patents guard against unauthorized duplication and use of digital content that is transferred from a source to one or more devices, such as mobile phones, tablets, set top boxes, e-readers, game consoles, DVD players, personal computers, and connected televisions. ContentGuard’s licensees are manufacturers, distributors and providers of products and services that incorporate its innovations to enable the protection of digital content, including Casio Hitachi Mobile Communications, LG Electronics, Microsoft Corporation, Nokia, Panasonic, Sharp, Sony, Toshiba, Technicolor, S.A., Time Warner, Inc., and Xerox Corporation. IP Services The company provides IP valuation services, analysis, and strategic advice through its wholly-owned subsidiary, Pendrell Technologies LLC (PTL) and its wholly-owned subsidiary, Ovidian Group LLC (Ovidian Group). It assists companies with IP portfolio development, strategic assessment of IP assets, IP landscape analyses, IP risk mitigation strategies, and formation and optimization of IP departments. The company also works with investors to identify opportunities to create value and manage risk by investing strategically in IP, innovation, and other intangible business assets. Strategy The company’s business strategy is to deploy its assets and resources to pursue investment and acquisition opportunities that have the potential to improve shareholder value. It would evaluate opportunities to invest in, develop, commercialize, and monetize IP assets, but the company may also pursue opportunities beyond its IP business. Competition The company competes with various companies that focus on the acquisition and monetization of IP rights, such as Acacia Research Corporation, Coller IP Management, Intellectual Ventures, Mosaid, Rovi, RPX, and Wi-Lan. The company also faces competition from consulting companies that focus solely on the provision of services, including Boston Consulting Group, Bain & Company, and Red Chalk Group. History The company was formerly known as ICO Global Communications (Holdings) Limited and changed its name to Pendrell Corporation in 2011.