Rick R. Wascher
Rick Wascher is Chenoweth Law Group’s senior IP and business counsel, focusing primarily on intellectual property (IP), technology rights, contracts, and business transactions. With over 25 years of experience in IP law and practice, Rick served as Chief IP Counsel for several public and private companies. He won numerous awards for his service including the coveted GE President’s Award, and individual awards for IP Strategy, and Rigor for his complex transactional work.
Rick’s areas of practice include:
Intellectual Property (IP): Rick provides his services with deep, hands-on, experience in all aspects and variants of IP law and practice, and international business. His global IP practice includes: patent prosecution, enforcement, and defense; trademarks, trade dress, domain names, and brand selection, clearance, adoption, usage, and marketing; original copyrights, derivative works, and works-for-hire; trade secrets, proprietary information, and know-how; product design and international design certification; and combatting illicit trade of pirated and counterfeit goods.
Freedom-to-Operate and Business Expansions: Rick has successfully handled numerous business expansions, new product introductions (NPI), and technology development projects impacting markets around the globe. He also provides operating opinions on IP rights infringement, institutional compliance, international IP strategy and best practices, global IP portfolio and asset valuation, technology (IP) export licenses, and the use of defensive publications.
Technology Development and Monetization: Throughout Rick’s career, he has negotiated and drafted numerous highly strategic business and technology agreements covering collaborative development, alliances and joint ventures, licensing, consultants, distributors, and other independent contractors. His business deals include a multi-year $40M exclusive license transaction with well-known universities in the US; a 10M EUR international software development transaction with a consortium of industry participants; and a first-of-its-kind “Future Technology” exclusive license and co-branding partnership with a globally renowned academic research foundation.
Contracts and Business Operations: Rick’s business acumen and ability to connect with the vision of executive management have allowed him to successfully work side-by-side with business leaders making strategic decisions and driving operational change. Some of his accomplishments include:
- Successfully defending a fourteen year $8M royalty audit claim resulting in a finding of “no underpayment” by the company, and a later award in favor of the company for over-payments.
- Serving as Chief IP Counsel for the $1B sale of CTI Molecular Imaging (NASDAQ: CTMI) to Siemens.
- Hands-on leadership and due diligence for a $41M acquisition of trade secrets, including work with the banks underwriting the deal.
- Sale and license of the GE Homeland & Technology business to Safran SA, a French company for $580M.
- Successful patent enforcement in Scotland for crystal scintillator technology.
- Startup and operation of an equipment leasing company, including negotiations and periodic sale of lease portfolio assets to larger equipment leasing firms.
“Having started my career in a medium-sized general practice law firm, I was tasked with selling legal services without much awareness of the client’s overall strategic vision, goals, and composition. Early in my career, I transitioned to in-house counsel. As the most senior IP decisionmaker for noteworthy public and private tech-savvy companies serving a variety of dynamic and regulated industries, I insisted on the law firm support I needed to drive our corporate vision and objectives. I rejected the law firms that tried to sell me legal products and services that didn’t fit our corporate mission. At Chenoweth Law Group, we represent our clients with the same business-connected approach. Together, I help my clients build, protect, enforce, and monetize their IP while being mindful to narrowly tailor our services to only those that meet the needs of the enterprise and drive management’s vision without wasteful excess or unnecessarily adding complexity to their operations.”
Representative Industries Serviced: Rick has served client needs touching many industries, including medical imaging equipment and soft goods, software and data, optics, athletic equipment, illuminated signage and displays, commercial publishing, precision-machined parts, microfluidics, drug discovery, crystallography, cyclotrons and particle accelerators, isotope production, firearms and munitions, waste reduction, recycling and solid material conversion, tracked vehicles, hunting and fishing gear, insulated concrete, stadium and arena fixtures, tools and toys, and safety gear.
Areas of Practice
- Intellectual Property
- Technology, Product Development, and Branding
- Contracts and Business law
- International Business Expansions
- Software and Data
- Health care law compliance
- U.S. Patent and Trademark Office, 1992
- Texas, 1990
- Oregon, (pending admission)
- Tennessee, 1991 (inactive)
- University of Oklahoma, Norman, Oklahoma
- J.D. – 1989
- University of Illinois, Champaign, Illinois
- B.S. – 1986
- Major: Nuclear Engineering
- Rick holds seven patents including four pioneering patents for the use of magnetic fields to inhibit tumor angiogenesis in mammals.