Mr. Jay was the architect of the licensing strategy that Siemens' United States business units presently employ in negotiating sponsored research agreements. During his last eight years at Siemens, Mr. Jay was engaged full-time in the structuring and negotiation of transactions involving intellectual property rights ("IP-centric" transactions, primarily research agreements and licenses). He has negotiated hundreds of these, primarily dealing with technology (patent and copyright rights) but also encompassing trademark and trade secret rights.