Inquesta for Beatroot Music Limited (in Liquidation)
Beatroot Music Limited (in Liquidation) (“Beatroot Music” or “the Company”), created a management platform which enabled tracks, metadata and legal rights to be stored together in one place, allowing users to manage and share their tracks with clients and digital services, such as Spotify. The Company offered a music profiling and cataloguing service, using a series of complex algorithms and metadata, in order to provide accurate search and discovery functionality across music catalogues. Beatroot Music had considerable interest in their service and their clients included Warner Music, PIAS and Domino. The software was originally initially developed for the Universal Music Group.
Metis Partners was instructed by Inquesta, Liquidator of Beatroot Music (“the Client”) to assist in the Company’s insolvency proceedings by identifying, marketing and selling the IP assets of Beatroot Music in order to maximise the financial recovery for creditors.
Using our proprietary methodology, Metisology, Metis Partners performed comprehensive desk-based research on Beatroot Music and then liaised with key team members to complete our IP discovery process. We identified a range of IP assets which had been critical to the Company’s revenue generation, including:
Following the identification of the key IP assets, Metis Partners supported the Client in registering a trade mark in order to preserve IP value and protect the brand against any third party infringement.
Metis Partners produced a detailed marketing document showcasing Beatroot Music’s IP assets, which we circulated to a targeted database of circa 1.5k potential buyers, drawn from our extensive proprietary database of potential IP acquirers.
Our extensive global marketing campaign for the IP assets of Beatroot Music attracted significant interest and helped create competitive tension. Metis Partners negotiated with several bidders in order to finalise the sale of the IP assets. The sale exceeded initial expectations by generating a five-figure return for creditors, and assisting the insolvency practitioner is its duty to maximise recovery. In addition, the final deal resulted in the retention of one of the key software developers by the buyer.