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Finjan (FNJN) is a cyber-security company with the main business of licensing patents Finjan owns. While they prefer licensing agreements, frequently they sue companies that are allegedly violating Finjan's patents. While Finjan's shares currently trade not far from the book value, virtually ignoring the estimated $200-400M in licensing fees in the next 3-4 years, I believe they are worth 3-9 times the current share price.
Deciphering Finjan
While Finjan is a small company, the list of its licensees includes Microsoft, McAfee, AVG and Symantec. Per the latest Form 10-Q, the company has no