₦airaland Forum

Chukwuka16:
Ownership: we need a diversified basket of assets to create, build and sustain wealth

Financial freedom my only hope
F**k livin' rich and dyin' broke
I bought some artwork for one million
Two years later, that sh*t worth two million
Few years later, that sh*t worth eight million
I can't wait to give this sh*t to my children
Y'all think it's bougie, I'm like, it's fine
But I'm tryin' to give you a million dollars worth of game for $9.99
I turned that 2 to a 4, 4 to an 8
I turned my life into a nice first week release date
Y'all out here still takin' advances, huh?
Me and my nigg*s takin' real chances, uh
Y'all on the 'Gram holdin' money to your ear
There's a disconnect, we don't call that money over here, yeah

Over the last couple of days, I have been brooding over some enlightenment that I just stumbled upon. Our patent attorney emailed me our patent issue notice and I decided to investigate the difference between the inventors and assignee (again). I will reproduce below my findings.

In US patents, the inventor is the individual(s) who conceived of the invention, while the assignee is the party who owns the patent rights. The inventor is typically the one who has contributed to the conception and development of the invention, while the assignee may be the company the inventor works for, an investor, or someone who has licensed the invention. The inventor can also be the assignee, but they are not always the same person.

Summary: even if I conceived the idea, if I am not an assignee, I don’t have a claim to any royalty the patent generates. Damn. I could be the ONLY inventor listed on the patent, but the assignee gets to milk and own the commercial rights to the patent.

Last year, I needed to licence our product to some folks in Silicon Valley and so myself and one of our in-house lawyers were in San Francisco to tidy up the deal. We needed some external sounding board and so I scheduled a call with some respected folk in the Nigeria tech/investing ecosystem. That morning just before the call, my MIL passed – damn. I still went ahead with the call and this consultant said some scary sh*t. In the call, he talked about a friend who conceived an idea, got investors and when they sold to a PE firm, this guy was screwed – terms and conditions. Owner thought he was game but alas somewhere in all of the legalese he had shot himself and lost significant cash when they sold. I’ve never been scared.

Sometime in 2023, some white folks and I decided to explore carbon credits. They had contacts with some of the biggest HVAC manufacturers in the UK and Europe, farmers who had installed massive industrial grade heat pumps, large LED manufacturers, housing associations and very big renewable project operators in the UK. I had the tech platform to help extract carbon offsets using one of Verra’s methodology and had worked out 60 pages of mathematical models along with the software to thrash this out. We are also a Registry Account Holder with Verra. When we set out, we didn’t have any contract. The main guy was the monitoring officer (MO) for one of the government projects I had delivered and brought in the second guy.

The “gentleman” agreement was that I will handle cash, while they bring in business. Share was equal after deducting expenses. Then all of a sudden, they started requesting that I provide them with the models as they needed to present these at universities and to other large potential clients. Luckily, I had created three variations of the model – one for LEDs and two for heat pumps (residential and industrial grades). I sent over the LED version to them, and then we continued discussions. Shortly after that, they came back saying a better approach would be for me to white label my software platform to a business they had which they feel will get more traction than my business – they had registered a business with just two of them as directors (so much for equal sharing). No worries if I control cash. Then in one of our meetings, they let it slip that cash would not be handled by me but them – I would be paid by them. Their argument – my company was not credit worthy to receive such cash. I laughed! Then they came and asked for the second/third models. This was the meat, and I knew. If I gave them this, they didn’t need me again. Any average scientist could operationalise the model and they could go ahead and commercialise it.

I told them we now needed a contract. They went ballistic. Told me how my software was nothing without them. I calmly listed all the original agreements we had that they had changed and how a contract was the best option to avoid confusion. They asked me to send over a copy of the contract and also the models as some clients were urgently wanting to see it – hahahahaha, the long con.

Guess what – I almost sent the models to them. While our lawyer drafted the contract, I was conflicted. My wife seeing my confusion asked me to accompany her to the post office to drop off a parcel. She told me that I could send them the models if on return I felt relieved. We returned and I decided to stew over my next decision while I watched TV. Went to Netflix, scrolled down and saw a documentary titled – The Founder (story of McDonald’s). Watched it, stood up, sent them an email that they will ONLY get the models when we have a contract signed by all parties.

Sent them the contract some days later and till today, I am still awaiting their feedback!

We are in a funny world that is changing dramatically before our eyes. There was a time when 60/40 was a solid hedge. 2022 showed that both stocks and bonds could go down same time. Beyond this, we are seeing intangible assets making up significant aspect of valuation for countries and companies. In today’s knowledge-based economy. Many of the world’s most valuable companies derive the majority of their worth from intangibles rather than from physical assets. Intangibles contribute to wealth creation by enabling innovation, differentiation, efficiency, and scalability in ways tangible assets often cannot. In fact, one study of over 860 companies found that the fastest-growing firms invested 2.6 times more in intangible assets than slower-growing firms.

Apple Inc. – often the world’s most valuable company – is a prime example of a business built on intangible assets. Apple’s brand loyalty, software ecosystem (iOS, App Store), and design & innovation capabilities have created a virtually unassailable market position, allowing it to generate enormous profits. Apple’s total Property, Plant & Equipment (PP&E) was about $45.7 billion in 2023, which includes its corporate campuses, data centers, retail stores, and other equipment. Yet Apple’s market capitalization tells a striking story – investors value the company at roughly $3 trillion. Compared to a book value (shareholders’ equity) of only about $62 billion, Apple’s market value is nearly 50 times higher. In other words, over 95% of Apple’s valuation is attributable to assets and expectations beyond the tangible book assets. This gap is essentially the intangible value of Apple – the worth of its brand, customer loyalty, intellectual property, software ecosystem, and future innovation potential.

JPMorgan Chase, one of the world’s largest banks, offers a contrast where tangible and financial assets remain significant, but intangible factors also contribute to value. As a bank, JPMorgan’s business is rooted in financial assets (loans, securities) and trust (an intangible). On its balance sheet, JPMorgan carries substantial tangible and financial assets – about $4.36 trillion in total assets as of 2023, consisting largely of loans, investments, and cash. Physical tangibles like corporate real estate (branch offices, data
centers) are a small portion of this total, but still present (the bank owns many office buildings and branches, reflected in PP&E). These hard assets enable the bank’s revenue-generating activities (e.g. loans generate interest income), creating wealth in a more traditional asset-driven way. However, intangible assets and competitive strengths are far from absent in finance. Goodwill and other intangibles on JPMorgan’s balance sheet amount to roughly $50–64 billion (as of recent years). While these are not listed as assets on the balance sheet, they certainly add value. The proof is in the market’s valuation: JPMorgan’s market capitalization is about $700 billion in 2025, well above its book equity. Investors price in the bank’s earnings power, which comes not just from having lots of loans (tangibles/financials) but from superior management, brand, and technology (intangibles).

Tesla, the electric vehicle (EV) and clean energy company, exemplifies the “mobility” sector (automotive/transportation) where traditionally tangibles dominated, yet it has achieved a market valuation heavily supported by intangibles. By the end of 2023, Tesla’s total assets were about $106.6 billion, including factories in the U.S., China, and Germany, as well as cash, inventory of cars, etc. However, Tesla’s market capitalization – approximately $790 billion at end of 2023 (and over $1 trillion at various points) – far exceeds the value of its physical assets. The difference is the market’s appraisal of Tesla’s intangible assets and future potential.

I decided to also explore universities ranking and their ownership of patents as well as countries and it shows why the US continues to lead.

Our acquisition for tangible assets is great but will afford us limited utility in the new world. Folks, we need to rethink life. Many of the benefits from what we implement today won’t be seen in our lifetime, but we are sure that our kids get to have a seat at the table. Today, our people are being used to generate patentable ideas globally but only get to be listed as inventors. The assignee which is what matters are entities inimical to our advancement. This is no different from the relationships between boxers and their promoters. One gets to receive the beatings and part of the returns with another taking a huge chunk with no beating!

When the consultant I talked with hinted that he has not seen many Nigerians patenting their ideas, I laughed because for us, the cost we were quoted wasn’t a walk in the park. Each patent has cost us around $15k to prosecute. Who has that amount just chilling for something intangible?

He further mentioned that there was a company making over $1 billion annually from the sale of patents which they got from grant applications made by Africans to various bodies. Imagine that. The ideas that will solve our problems across Africa are today patented. How do we think we would break free? We saw a glimpse of this during Covid. They all refused to release the IP for the local manufacture of vaccines. Were it not for God, Africa would have been in slavery 2.0.

When Chinua Achebe wrote “Things Fall Apart”, it made sense for “Eneke the bird” to say that “since men have learned to shoot without missing, he has learned to fly without perching”. This was the level of understanding then. This was a strategy then, not today. You can’t beat the game playing catch-up. You beat the game by having a systems approach and understanding where the convergence point is through foresight. With foresight, you simply setup shop at the convergence point and make a killing as they converge.

I know we like ease – who doesn’t? We catch fun as we migrate from one developed country to another – who doesn’t want to have multiple citizenship and pass that down? We are excited when we purchase that new property – who doesn’t want to be a homeowner in “the abroad”? Who isn’t eager to work in a good company and earn megabucks and have money to “shalaye” regularly? We all like life. I love life too! Unfortunately, this time, it is not about us but the survival of our race.

The lyrics I quoted is from Jay-Z’s The Story of O.J. A breakdown of Jay-Z’s $2.5 billion wealth shows that the intangible aspect is at 58% or $1.45 billion. His brand alone is $1.1 billion. Ditto for Rihanna. Tangible aspect of her $1.4 billion wealth is $270 million with the intangible aspect being $1.13 billion (over 80%). Same with Kim Kadashan. With a net worth of $1.7 billion, intangibles make up $1.45 billion (over 85%). Elon’s $330-$350 billion net worth is only $6 billion in tangibles. Over $320 billion (or 98%) of Elon’s net worth is intangible.

The game has changed. How can we trap and retain IP within our community? How can we leverage our community in growing brands from within us to cater for us long-term? I know that many of us are scarred because of events that have occurred. I have been too, but it does not negate from the fact that that’s life. We can’t fold our arms and watch a whole generation perish because of a few bad eggs. Folks, I say this with pain – any youth who does not see themselves in a top 20 city in the next 20 months will be useless to humanity! This is not a careless statement. We are gradually being excluded from the new world. It seems our fate has been determined – to be the bottom feeders, the peasants of the world who will function solely for the pleasure of the developed world.

Today, a Nigerian youth in Gora, Nasarawa cannot comfortably make transactions overseas with his bank card. He will struggle to pay for hosting fees on Hostinger, Heroku, Azure, MongoDB, etc. In fact, setting up Azure $150k free credit services for startups will require you having a credit card. Where in Nigeria are credit cards issued?

Our priority should be to retain commercial streams for every of our IP from Nigeria. Those intellectuals forced to “dash” their IP to host institutions in the GCC and China (the major culprits here) or the very innovative businesses that are forced to apply for grants to bootstrap their ideas (whose ideas get stolen routinely and patented) need lifelines. How can we get innovative businesses in Nigeria access to $10k as quickly as possible with SAFE note to protect investors? I know the diaspora community can afford this times over. Many will fail – quite so. But the ones that succeed will compensate for any losses. We should be able to take ownership of patents from our creators and agree commercial agreements that guarantee them significant share from any accrued royalty. Vetting and managing these are the easiest things. We already do so for white-owned businesses that we work for.

Food for thought.

As I conclude I am reminded of this statement – “why tip toe through life only to arrive safely at death?”

Hi Chukwuka

I enjoy reading your writings. I send a pm to you, for an urgent matter. I’ll be grateful if you respond.
Thank you

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Hello
Please I want to send clothes to Nigeria (around 50kg). What's the cheapest way to do this. Thank you

Please, what's the best/cheap way to to send money from Nigerian account to UK account? And how do I go about it? Its not a large amount, just to pay rent.

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Hello everyone,
Please I will like to ask "is it late to apply for winter semester?", seeing that application has closed for most of the schools.
Or is it better to wait till next year?
Anyone with information on open biology related courses should let me know.
Thank you.

Please are you a male? Can you share accommodation for 3 weeks?

Tifebabe123:
Yes I submitted January 4th, I got my visa 11th of March. Currently in Jo’burg,SA arrived here a week ago.

[Please are you a male? Can you share accommodation for 3 weeks? quote author=Tifebabe123 post=100114567]

Yes I submitted January 4th, I got my visa 11th of March. Currently in Jo’burg,SA arrived here a week ago.[/quote]

Does anyone (male) staying in jburg around UJ or Wits willing to share accommodation for 2 weeks in April? Kind response will be appreciated. Also any cheap accommodation suggestions will be appreciated.

Ok

Deustchemann:
I saw it initially. But I can't find it anymore on the course website.
My application was rejected tho.

Ok
Thanks

Osunguy:
Good evening guys,

I initially booked category B and I got date because I had just a bachelors admission and on the appointment letter it was boldly written BACHELORS on it. Now I have a masters admission letter and I would like to know if I can use the category B appointment letter for my masters interview. Would it pose an issue for me?

I anticipate your response guys, thanks in advance.

Please don't cancel.. With the way things are going, you might not get a date for Msc. You can explain to the VO that your MSc admission letter arrived later.

Deutschman, are you certain that MSc in Molecular science is not restricted? I can't find it on the website and I will like to apply.

Somstevee:
Good day house.
I wish to commend each and every one of us who have devoted time to make sure that no one is victimized at the course of achieving his or her goal, I must acknowledge that your efforts have helped and benefited the masses. THANK YOU.
I am actually new to this family, as a Matter of fact, I just created a nairaland account tonight. I have gone through the thread the much as I can and have gotten several beneficial information. But am still left with few questions.
I got admission to study master of biological resources at Rheine Waal university of applied sciences yesterday, and I tried scheduling my visa appointment today.
During the process of applying for the interview, I noticed that some things has changed, unlike previous years, when one can apply via sending mail to the embassy, every one is expected to apply via the embassy website, I ask if it is normal?

Secondly, I noticed that at the process of filling the form, student visa is categorized into class And B.
I still wish to ask if it is normal.
Although I applied through class A, and got the email I attached here, I just wish to clarify that am on the right track.


Please if anyone else got admission to the Same course and school as mine, I will love a link up.



Thanks once more

Yeah, you book via online booking system.
And category A is the right one for you.
I want to know what you used as an evidence for your internship..
And also, how long did it take for for you to get AL,? I want to apply next week

Deustchemann:
If you're required to send hard copies, you'll be told in the mail. But since they only sent you an ID and a link to check your status from time to time, then you are assured that there's no need to send documents to them.

Now, there are different modes for different courses I guess. I applied for MSc Biochemistry and MSc Developmental Stem cell biology. I've submitted online application for both, only to receive a mail last week from the Stem Cell guys requesting me to download an application form from their course website, fill it and combine it into 1 PDF file with some documents they listed for me in the mail. I was then told to send the combined documents via email to them before July 15.

I added this just to clear your doubts, and assure you that you're on track. If there was a problem with the online application, I'm sure you'd have been mailed to that effect. But since there's none, just hope and pray for the best.

I'm sorry about the rejections so far. I guess they are a part of the process too. I've received not less than 15 of them over here. But we won't allow it to dampen us. Good news await you very soon.

Viel Glück mein Liebling

Maybe you should confirm from them whether you are to email or post the documents.
iSTEM didn't ask me to post any document, but I applied to the department as written on the website (and sent to a particular email) before the university application (uploading and all).

royaldok:
July 19

Please don't cancel.
Go with your MSc AL. Nobody will send you away for your category B. It would have been complex, if it's the other way round.

Coitus:
omberyl
Deustchemann
Aderiike00
holadhayor
chinkichun
I noticed y'all applied to Ruhr University bochum. The thing is i can't seem to figure something out. After the online application, are we supposed to send the hard copy document to DE?
Because there is no instruction on the portal or email instructing me to do such, I only received a mail containing an application ID with a link for me to be checking the application status till its updated.

I just want to find out from you guys if you actually sent documents so I can send mine, don't wanna be the one doing the wrong thing, as I've already gotten 3 rejection already

My program is an online application. I didn't send documents.
Don't worry about the rejections. Whatever will be, will be. Do your best and trust God.

royaldok:
What's the fate of someone who already has a bsc, now going for masters but booked category B? As at that time of booking, category A was meant for those with scholarships. What can one do in this situation?

What date did they give you for category B?
It won't make sense to cancel the date if it's already near. What if they give you September for category A?

HighPriest0:
Wonderful! Even with their 1500 euro tuition fees?

It was even a colleague that showed me the 1500 on his "invitation to write the test" letter . I didn't see it initially on Mol Med website.

Feyishayommy:
I really appreciate your prompt response.
Do I have to forward all my documents to the school while applying? Including the IELTS result?

Try to read and follow the steps. It has been stated in number 2. Browse through the website of your proposed university and program, all your answers are there. Admission process differs.

KamsyIvy:
Nawa o! It’s as if whenever I ask questions no one seems to see them but if I reply dem go see am. 3rd or 4th question I’ve asked this week. Really disappointed.

Because your question has been asked and answered several times on this thread, if only you can check.
Like you stated, you will send your BA confirmation. From what I've read, they don't acknowledge while they rarely do for others. Let the gurus com and answer you.

I wonder why Ulm will send rejection letter by email and also post it. See me rushing to go and pick up my letter from Germany, only to see a rejection letter. God will do it very soon.

My Biomedical Science brethren how far?
This week is gone already, hopefully next week will be great. Who is writing FAU Molecular Medicine test next week or anyone with the experience?

Some have AL but no AD, some have AD but no AL.. This life shaa.. Guys whatever your situation is, just start praising God.. He will make a way as always.

Deustchemann:
iSTEM is good too.

Well, look out for closely related courses. They can increase your application list.
Check out Advanced Functional Materials at TU-Chemnitz. Uni-assist Application, but admission free. It's more of physics and chemistry but I'm sure you'll blend. Waledora schools there.

Physics and chemistry? I jump and pass o