Description
Intellectual Property (12th Ed.)
Valuation, Exploitation, and Infringement Damages, 2016 Cumulative Supplement
Authors: Parr Russell L., Smith Gordon V.
Language: EnglishSubject for Intellectual Property :
Keywords
Intellectual Property, Valuation, Exploitation, and Infringement Damages, 2016 Cumulative Supplement, Russell L, Parr, Gordon V, Smith, Intellectual Property Research Associates, AUS Consultants, Intellectual Property supplement, IP valuation, Intellectual Property Valuation 2016, intangible asset valuation, profiting from IP, protecting intellectual property, IP tax rules, IP accounting, IP assets, determining royalty rates, determining equity splits, joint ventures, IP strategy, intellectual p
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Add to cart the book of Parr Russell L., Smith Gordon V.448 p. · 17.8x25.4 cm · Paperback
Description
/li>Contents
/li>Biography
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Intellectual Property, Valuation, Exploitation, and Infringement Damages provides practical tools and expert clarification for the valuation of intangible assets. This new 2016 Cumulative Supplement contains the latest laws, regulations, and practices surrounding licensing and joint ventures, with practical analytical models that simplify the calculation of royalties and equity splits. As a companion to the comprehensive Intellectual Property, this book provides invaluable guidance toward the investment aspects, business strategies, taxes, and accounting practices involved in intellectual property protection and profit, to help licensing professionals structure optimal arrangements and mitigate risks. Written by leading experts in the intellectual property realm, this guide is a must-have resource for anyone working with intangible assets.
Intellectual property is more than a simple profit center; to many owners, it's the cornerstone of their organization, and must be rigorously protected and exploited to the fullest extent. This book provides clear guidance on valuation, which is the foundation of a successful IP strategy.
- Define the value of intangible assets in real-money terms
- Examine the business economics of licensing and joint venture strategies
- Understand the relevant legal, tax, and accounting practices
- Determine fair royalty rates and equity splits
Patents, trademarks, formulas, copyrights, brand names, distribution systems—all fall under the intellectual property umbrella, and each might be the competitive edge upon which a business is built. Intellectual property can cost hundreds of millions of dollars to create, and is often irreplaceable with no substitute or alternative available, making it an organization's most important asset. Protect it properly, and reap every ounce of profit it can produce with the important guidance in Intellectual Property, Valuation, Exploitation, and Infringement Damages, 2016 Cumulative Supplement.
Preface xix
Part I Valuation 1
Chapter 1A Intellectual Property Landscape (New) 3
1A.1 80% of Corporate Value Is Intellectual Property and Intangible Assets 4
1A.2 Over Seven Million Patents 6
1A.3 Corporations Own the Most Patents 7
1A.4 All Industries Are Patenting Inventions 8
1A.5 Trademarks 10
1A.6 Trademarks Are Supported with Huge Ad Spending 11
1A.7 Copyrights 12
1A.8 Trade Secrets 12
1A.9 Business of Licensing 15
Chapter 1B U.S. Congress Flirts with Disaster (New) 25
1B.1 Patent Litigation Venue 27
1B.2 Patent Infringement Damages 27
1B.3 Injunctions for Only Competitors 29
1B.4 Harming Our Only Economic Advantage 31
Chapter 12A Risk-Adjusted Cash Flows (New) 32
12A.1 Required Rates of Return 33
12A.2 Capital Asset Pricing Model 36
12A.3 Build-Up Method 41
12A.4 Venture Capital Rates of Return 42
12A.5 Probability of Success 45
12A.6 Conclusion 49
Chapter 12B Dealing With Risk and Uncertainty in Intellectual Property Valuation and Exploitation (New) 51
12B.1 Risk versus Uncertainty 53
12B.2 Decision Analysis and Decision Trees 55
12B.3 Decision Tree Components and Conventions 56
12B.4 Monte Carlo Techniques 63
12B.5 Markov Chains 66
12B.6 Obtaining Information from Indirect Observation: Shadow Pricing 70
12B.7 Bayesian Analysis 72
12B.8 Option Pricing Models 75
12B.9 Limitations on Rationality in Decision Making: The Effects of Perception and Biases on Decision Making 78
12B.10 Conclusion 79
Chapter 14A Rights of Privacy, Publicity, and Celebrity Persona (New) 81
14A.1 Introduction 81
14A.2 Legal Underpinnings 84
14A.3 Trademark Rights 87
14A.4 Copyright 88
14A.5 Legal Uncertainties and Solutions 90
14A.6 A Photography Issue 91
14A.7 Conclusion 93
Chapter 14B Intellectual Property and Intangible Asset Volatility (New) 95
Part II Licensing 101
Chapter 27A Royalty Rates and License Fees for Technology (New) 103
27A.1 Royalty Rates 104
27A.2 Per Unit Royalties 107
27A.3 Royalties Based on Profitability 108
27A.4 License Fees 109
27A.5 Medical Device Industry Royalty Rates 111
27A.6 Medical Device Industry License Fee Distribution 112
27A.7 Conclusion 114
Chapter 27B License Fees and Royalty Rate Frequency for Technology (New) 115
27B.1 Real Deal Royalty Rates 116
27B.2 Per Unit Royalties 118
27B.3 License Fees 119
27B.4 Conclusion 120
Chapter 27C Royalty Rates and License Fees for Pharmaceuticals And Biotechnology (New) 121
27C.1 The Parties—Licensing between Corporations Dominates 122
27C.2 Royalty Rates 122
27C.3 License Fees 124
27C.4 Key Technologies 125
27C.5 Developmental Stages of Technology 126
27C.6 Conclusion 128
Chapter 27D Licensee Fees and Royalty Rates for Technology Update (New) 129
27D.1 Per Unit Royalties 131
27D.2 License Fees 132
Chapter 33A The Magnitude and Meaning of Royalty Misreporting (New) 134
33A.1 Introduction 134
33A.2 “Why?” versus “How?” 135
33A.3 Math Errors: 5% Error Rate 138
33A.4 Royalty Rate Errors: 4% Error Rate 139
33A.5 Transfer Prices: 4% Error Rate 141
33A.6 Unreported Benchmarks and Milestones: 5% Error Rate 142
33A.7 Unreported Sales: 16% Error Rate 143
33A.8 Disallowed Deductions: 9% Error Rate 143
33A.9 Unreported Sublicenses: 17% Error Rate 144
33A.10 Questionable License Interpretation: 40% Error Rate 144
33A.11 Conclusion 145
Chapter 33B Intellectual Property Audit and Management (New) 146
33B.1 Introduction 147
33B.2 Intellectual Property Is Important 147
33B.3 But Intellectual Property Is Frequently Mismanaged 148
33B.4 Why the Intellectual Property Dichotomy? 148
33B.5 The First Step: An Intellectual Property Audit 149
33B.6 From IP Audit to IP Management 151
33B.7 Insufficient Approaches 152
33B.8 A New Intellectual Property Management Paradigm 153
33B.9 Available Tools 153
33B.10 Benefits of Intellectual Property Management 154
33B.11 When to Do an Intellectual Property Audit 155
33B.12 How to Do an Intellectual Property Audit 157
33B.13 Software Solutions to Make the Job Easier 160
33B.14 Conclusion 163
Chapter 35A Quantifying Reasonable Royalties: The Entire Market Value Rule (New) 167
Chapter 35B New Guidance about Apportionment (New) 178
35B.1 Apportionment of the Royalty Base 178
35B.2 The Infringed Invention 179
35B.3 Determination of Damages 181
35B.4 Georgia-Pacific and the Hypothetical Negotiation 184
Chapter 35C Lost Profits for New Businesses (New) 188
35C.1 Why Are Profits Missing 189
35C.2 Guidance from Business Plans 190
35C.3 Management Team 190
35C.4 Operating Capital 191
35C.5 Comparables 191
35C.6 Defendant’s Profits 192
35C.7 Before-and-After Analysis Will Not Work 192
35C.8 Lost Business Value 192
35C.9 Conclusion 193
Chapter 45 New Measure of Infringement Damages—Future Damages (New) 194
45.1 Royalty Rate for Future Damages 196
45.2 What about Future Lost Profits? 207
Chapter 45A Continually Evolving Patent Damages (New) 208
45A.1 Post-Verdict Royalty Rates 209
45A.2 Optimize Your Patented Technology or Lose It 214
45A.3 Litigation-Based Licenses 217
Chapter 45B The 25% Rule Is Dead (New) 222
Appendix G More Sample Royalty Rate Information (New) 225
Appendix H Trademark Royalty Rates (New) 253
Appendix H-A More Trademark and Copyright Royalty Rates (New) 271
Appendix I Pharmaceutical and Biotechnology Royalty Rates (New) 309
Appendix J Telecommunications Royalty Rates (New) 333
Appendix K Electrical and Energy Royalty Rates (New) 369
Index 403
Russell L. Parr, CFA, ASA is President of Intellectual Property Research Associates (www.ipresearch.com). He is an expert in determining the value of intellectual property. Mr. Parr's books about intellectual property value and management are published in Japanese, Korean, Italian and English. He is dedicated to the development of comprehensive methods for accurately defining the value of intellectual property.
Gordon V. Smith is Chairman Emeritus of AUS Inc., a multidiscipline consulting and market research firm, a member of the Board of Trustees of the University of New Hampshire School of Law, and Distinguished Professor of IP Management at the law school's Franklin Pierce Center for Intellectual Property. During his long consulting career, he has advised clients on the value of intellectual property and closely held stock and has consulted in support of transactions, litigation, and tax-related matters. He is the author and coauthor of several books on IP valuation and exploitation strategies. An active international lecturer, Smith is Chair of the Advisory Board of the Licensing Economics Review, as well as an Adjunct Professor at the National University of Singapore (Division of Engineering & Technology Management). Mr. Smith earned an A.B. degree from Harvard University in 1959.