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Finjan (NASDAQ:FNJN) is a cyber-security company with the main business of licensing owned patents. While they prefer licensing agreements, they also sue companies that are allegedly violating Finjan's patents. Finjan has no debt and its shares currently trade close to its tangible book value, that being $1.16, ignoring the estimated $200-400M in licensing fees in the next 3-4 years. I believe Finjan's shares are worth 3x-10x the current price.
Finjan's Past
Finjan is a small company, but the list of its licensees includes Microsoft, McAfee, AVG and Symantec, among others. Per the latest