Attached files
| file | filename |
|---|---|
| 10-K - ACACIA RESEARCH CORPORATION - ACACIA RESEARCH CORP | acacia_10k-123109.htm |
| EX-31.1 - CERTIFICATION - ACACIA RESEARCH CORP | acacia_10k-ex3101.htm |
| EX-21.1 - SUBSIDIARIES - ACACIA RESEARCH CORP | acacia_10k-ex2101.htm |
| EX-31.2 - CERTIFICATION - ACACIA RESEARCH CORP | acacia_10k-ex3102.htm |
| EX-23.1 - CONSENT - ACACIA RESEARCH CORP | acacia_10k-ex2301.htm |
PREFERABILITY
LETTER FROM INDEPENDENT
REGISTERED
PUBLIC ACCOUNTING FIRM
February
25, 2010
Board of
Directors
Acacia
Research Corporation
500
Newport Center Drive, 7th Floor
Newport
Beach, CA 92660
Dear
Directors:
We are
providing this letter solely for inclusion as an exhibit to Acacia Research
Corporation’s (the "Company") Annual Report on Form 10-K filing pursuant to Item
601 of Regulation S-K.
We have
audited the consolidated financial statements included in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2009, as set forth in our
report dated February 25, 2010. As stated in Note 8 to those consolidated
financial statements, the Company changed its accounting for recognizing revenue
on term license agreements. Note 8 also states management’s belief
that the newly adopted accounting principle is preferable in the circumstances
because it provides a consistent approach to accounting for all of the Company’s
license arrangements with similar significant terms and conditions and more
closely reflects the culmination of the earnings process associated with these
revenue arrangements.
With
regard to the aforementioned accounting change, it should be understood that
authoritative criteria have not been established for evaluating the
preferability of one acceptable method of accounting over another acceptable
method and, in expressing our concurrence below, we have relied on management’s
business planning and judgment and on management’s determination that this
change in accounting principle is preferable.
Based on
our reading of management’s stated reasons and justification for this change in
accounting principle in the Annual Report on Form 10-K, and our discussions with
management as to their judgment about the relevant business planning factors
relating to the change, we concur with management that the newly adopted method
of accounting is preferable in the Company’s circumstances.
Very
truly yours,
/s/ GRANT
THORNTON LLP
Irvine, California