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what is intellectual capital?
sum of total of all knowledge in an enterprise, as it reisides in minds of its employeess, which can be leveraged to create wealth
what are INtellectual Assets?
IC that is identified, documented, and available to be shared and replicated wtihin organization
- invention disclosures
- operatin manuals
- dcoumented procedures
- databases
what is intellectual property?
assets protected by law
what are positives of IPR?
incentives to creation/production
what are negatives of IPR?
incentive to creation of monopolites/monopoly pricin
are core patents usually licensed?
no
are noncoe patents usually licensed?
yes
What does IAM system do?
handles value chain of creating and handling IP
what is the hierarchy of IP Frequency and difficult y in creation?
- patents
- tms
- copyrights
- contract created rights
- trade secrets
do copyrights have limited or great protection?
limited
do patents offered good or limited protection?
limited
what value of IP is in trade secrets?
90%
can trade secret's holder get a patent later on if he/she has used or commercially marketted his invention for over a year?
no
whats legal criteria for determining existance ofa trade secret/
novelty, business knowledge, screcyvalue, development, reverse engineering
do trade secrets and their law prohibit reverse engineering?
no
what cannot be patented?
ideas, laws of natre, mathematical formulas, unsafe drugs, surgical techniques
what is economic life of a patnet?
5 yrs
what can be patentted?
inventions or disocverines of anythingnew or useful
what is the condition for a patent?
novelty, non obvious, usefulness
what usually happens to patent claims?
after 12-18 months uspto responds, rejecting most of claim
how much does a patent cost?
10-25k in us, 10k-20k per country in foreign patent
is patenting growing or decreasin?
growing
what are copyright law requirements?
- orginality, work of authorship, fixed in a tangible medium of expression
what does a full copyright notice include?
symbol or word copyright, year, name of copyright owner
what are requisites for market in cost approach?
- active, public market
- exchane of comparable products
- arms-length transactions
- transaction stats readily available
is the value of IA the NPV of the income stream it generates?
no, value created by the IP is forecasted annual profit of the firm under monopoly conditions MINUS TEH CORRESPONDING PROFIT OF THE FIRM EMPLOYING THE SAME TECHNOLOGY UNDER COMPOETITIVE CONDICTIONS
what is income approach best suited for appraisal of?
contracts, liceses, patents tms copyrights, franchises
what is a patent usually worth?
4x incremental revenue of monopoly
how can royalties be paid?
lump sum in paid up license or based on sales called a running royalty
what are typical royalty rates?
- computer hardware, 1-5%, inlicensing rates 0-2%, outlicensing rates 2-5%

software - application can have up to 25% of profits, firmware have low, %.5-$1.000 per firmware copy

tech licenses could be up to 50% o r low
what is negative pick up?
filmmaker sells fim to studio in exchange for film proceeds, reibursement of production expenses
what is a cash deal?
with guaranteed distro, filmakeers can fundt he production with a cash advance
what are market strategies for protecting IP?
releasing new products, makes it impossible to hack, prescribe a sedative (lower competition intesity) , create synergies, entangle assets,expand by acquiring new business, make a bundle, relocate resources to adjacent businesse
what are examples of open source?
linus OS
Can intellectual assetes drive the market valuation of a company?
yes! and they often do
How do you analyze IAs?
1) survey existing IAs, audit (identify assets, find strength, find gaps, dispose of unneeded assets), Royalty Audit (Check on licesees, determine "royalty base" on which license is being paid" ), IAMs.
how do companies organize IP management?
- legal depts
- trade secrets: HR
- patens: R+D
is collaboration by various depts necessary in managing IP?
YES!
how can outside councel help?
moniter worldwide IAs, manage security and confidentiality protection agreements within company, explaining security expectations clearly to employees, develop rapid response procesdures to manage risk in case of IP theft or infringement and have procedures in place.
what are "shrink wrap" contracts?
NDAs, CNC, can be alternatives to copyrights.
what is teh problem with shrink wrap contracts?
many are invalid/unenforceabe, must be limited in duraction and limited to specified and related info which is furnished, does not cover 3rd parties like taxi drivers overhearing priveleged info.
is there big impact of patent length?
yesif patent protection was initally low, negative if it is initally high
what does "fair use" include?
parody, criticism, commentary, illustration or example , but limited copying to copyright for research, teaching, parody, journalism, and library activities (media firms hate fair use, universities love it).
what is the first sale doctrine?
in 1968 passed, once a copyrihted work is sold, the purchaser is free to resell, rent, and use the work in other ways, but not free to make copies and resell them. sound recordings cant be rented, doesn't apply to works distributed by digital transmission (eg mp3s).
how do you valuate IP?
cost approach (thouh inadequate correlation of cost with value, not all developmental cost lead to successful inventions/products), market valuation (because conditions are rarely met, this model rarely used), INcome approach (NPV, though doesn't distinguish between value of IP and value of technology, best suited for contracts, licenses, patents, franchises, etc.).
who are licensed intermediaries?
venture financiers, IP Brokers, and IP consolidators.
how is licensing based?
on % of gross profit, of % of profit, or per unit
how are book advances done?
typically count towards royalties, ie book must sell enough to earn back advance
how do cross acounting advances work?
payment of one title counts against debits from another book deals
do publishers typically have differnt royalties for foreign sales?
yes, lower. net on foreign sales is easy to manipulate, so royalties shoudl be based on gross sales.
what are 2 FCC rules favored over syndicators over TV networks?
1) Prime Time access rule
2) financial interest and syndication rule ("fin-syn").

"First run" syndications, when a program is first braodcast as syndicated show, not on network TV. 2) Cash Barter Process: syndicator typically must clear over half of country, mostly wiht target price, to break even. program sold to programmers with all or some commercial slots already bought. syndicator obtains a sale commission on stations ad sale usually 35% of gross revenus, may also get additional 10-15% to cover marketing costs
what are challenges to IAs?
Leasing, Profit sharing
what is the Digital Millenium Copyright act?
legaliszed ulimited p2p, outlawys manufacture, sale, distribution, or trafficking the tools and technoloies that made circumvention possible
what are concerns over DMCA?
jeapordizes fair use, impedes competitive innovation
what is a broadcast flag?
instructs device not to redistribute files for av file.
what did Shumpeter focus on?
creative destruction of capitalism focused on undermining of oligopoly by competitive innovators.
what are creative commons?
a set of boilerplate templates in the form of identifiable and readable license statements that make it easy for a creator to realease particualrly rights under clearly specified conditions