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To: Dave who wrote (15835)	10/2/1998 10:59:00 PM
From: Drew Williams	Read Replies (1) \| Respond to of 152472

There are lots of companies (American and European both) that make large percentages of their net income from licensing fees. One example is Phillips, which made lots more from licensing its audio cassette technology than it ever did from manufacturing it. (It seems incredible today that audio cassettes were once considered high tech!) IBM owns and licenses (sometimes to their chagrin) a lot of the basic patents that built the computer industry. I would not discount companies simply because they also have manufacturing or other revenue sources. At the end of the day, I believe most companies would rather own the IPR than the factory.