Holdings: Intellectual property

Intellectual property: valuation, exploitation, and infringement damages [1] Hauptband

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Bibliographic Details
Main Authors:	Smith, Gordon V. 1937- (Author), Parr, Russell L. 1954- (Author)
Format:	Book
Language:	English
Published:	Hoboken, NJ Wiley 2005
Edition:	[4. ed.]
Subjects:	Exploit Bewertungsring
Online Access:	Inhaltsverzeichnis
Physical Description:	XXIV, 864 S. Ill., graph. Darst.

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adam_text	CONTENTS Preface xxiii Part I Valuation 1 1 Intellectual Property and Intangible Assets in the World Today 3 1.1 Some History 3 1.2 Legislation Created Intellectual Property 5 1.3 Need for Intellectual Property Valuations 6 1.4 Intellectual Property Exploitation 8 1.5 Legal Attitudes Enhance Value 10 1.6 When Intellectual Properties Collide 11 2 Defining Intangible Assets and Intellectual Property 13 2.1 Intangible Assets 13 2.2 Intellectual Property 21 3 Defining Intangible Assets and Intellectual Property — Trademarks 36 3.1 Trademarks 36 3.2 Trademark Defined 37 3.3 Trademarks — The Legal Underpinnings 43 3.4 Trademark Creation 46 3.5 Naming Rights 61 4 Intangible Assets and the Business Enterprise 66 4.1 The Business Enterprise 66 4.2 Summary 79 Because of the rapidly changing nature of information in this field, this product may be updated with annual supplements or with future editions. Please call 1-877-762-2974 or email us at subscriber@wiley.com to receive any current update at no additional charge. We will send on approval any future supplements or new editions when they become available. If you purchased this product directly from John Wiley & Sons, Inc., we have already recorded your subscription for this update service. xi xii Contents 5 Accounting Issues 81 5.1 Introduction 81 5.2 Accounting Principles Relating to Valuation 83 5.3 New Developments in Accounting for Intangible Assets 95 5.4 Cost and Value 109 Appendices 5A Intangible Asset List — Exposure Draft 112 5B Intangible Asset List—Final SFAS No. 141 114 5C Relevant Documents in the Development of SFAS No. 141 and SFAS No. 142 116 6 Tax Issues 117 6.1 Tax Considerations 117 6.2 Primary Standards 122 6.3 Property Definitions 125 6.4 Methods for Determining Intangible Asset Transfer Prices 126 6.5 Cost-Sharing Arrangements 132 6.6 Investment Holding Companies 136 7 Valuation Principles and Techniques 140 7.1 Valuation Principles 140 7.2 Valuation Methods 148 7.3 Summary 155 8 Cost Approach 156 8.1 General Cost Approach Principles 156 8.2 Cautions in Using the Cost Approach for Intellectual Property 1 65 8.3 Using the Cost Approach for Trademarks 1 66 8.4 Using the Cost Approach for Technology 168 8.5 Cost Approach — Summary 1 68 9 Market Approach 169 9.1 Market Transactions of Intellectual Property Indicate Value 169 9.2 Market Events Can Indicate Value 1 71 9.3 A Lost Patent Indicates Value 171 9.4 Analyzing the Business Enterprise to Indicate Value 175 9.5 Market Approach — Summary 1 83 10 Income Approach — Quantifying the Economic Benefit 185 10.1 Market Value Equals the Present Value of the Future Economic Benefits of Ownership 1 85 10.2 Quantifying the Economic Benefit 185 Contents xiii 11 Income Approach — Timing and Pattern of Receiving the Economic Benefit 212 11.1 Market Value Equals the Present Value of the Future Economic Benefits of Ownership 212 11.2 Economic Life Defined 212 11.3 Economic Life of Intangible Assets and Intellectual Property 219 12 Income Approach — Evaluating the Risk of Receiving the Economic Benefit and Putting It All Together 241 12.1 Market Value Equals the Present Value of the Future Economic Benefits of Ownership 241 12.2 Income Approach — Putting It All Together 245 13 When Theory Meets Practice 252 13.1 Valuation Challenges 252 13.2 Common Valuation Errors 255 13.3 Valuation Method Preferences 259 14 Special Valuation Situations 270 14.1 Intangibles in Bankruptcy and as Collateral 270 14.2 Ad Valorem Taxes 277 14.3 Intangible Assets in Regulated Industries 277 15 Early-Stage Technology Valuation 285 15.1 Early-Stage Technology 285 15.2 Cost Approach and Early-Stage Technology 286 15.3 Market Approach and Early-Stage Technology 286 15.4 Income Approach and Early-Stage Technology 289 15.5 Summary 296 16 International Issues 301 16.1 International Valuation Standards 302 16.2 Other International Valuation Issues 305 16.3 Summary 309 PartII Licensing 311 17 Emergence of Intellectual Property Exploitation Strategies 313 17.1 Factors Driving Strategic Alliances: Time, Cost, and Risk 314 17.2 A Short History of Corporate Strategies 316 17.3 Legal Attitudes Enhance Value 320 xiv Contents 18 Introduction to Exploitation Strategies 321 18.1 Some History 321 18.2 Enter Technological Change 321 18.3 Business Enterprise Model 323 18.4 Economics of Exploitation 325 18.5 Development of Intellectual Property 326 18.6 Source of Production Factors 328 18.7 Internal Strategies 329 18.8 The Entrepreneurial Corporation 330 18.9 Acquisition 331 18.10 External Strategies 332 18.11 Ownership Alliances 338 18.12 Other Liquidity Concerns 339 18.13 Establishing a Cross-ownership Alliance 341 18.14 Strategic Alliances — Rapid Technological Change 342 18.15 Creating Industry Standards 345 19 Economic Contributions of Intellectual Property 352 19.1 Intellectual Property Contributes Powerfully to Earnings 352 19.2 Intellectual Property Sustains Superior Earnings 352 19.3 Enhanced Profits and Intellectual Property 353 19.4 Investment Rate of Return Analysis 359 19.5 Discounted Cash Flow Analysis 364 19.6 Comparable License Transactions 367 19.7 Simplistic Rules of Thumb 374 20 Global Exploitation Potential 376 20.1 Impact of the International Environment 376 20.2 Accounting Issues 377 203 Taxes 379 20.4 Transfer Pricing 380 20.5 Methods for Determining Intangible Asset Transfer Prices 385 20.6 Political Risk 387 20.7 New Markets 388 20.8 Repatriation 389 20.9 Cultural Issues 391 20.10 investment Risk 391 20.11 Legal Protection 393 20.12 Summary 394 21 Risks of Exploitation 395 21.1 Elements of Risk 395 21.2 Risk and Royalties 401 Contents xv 21.3 Intellectual Property Economic Life 405 21.4 Summary 409 22 Use of the 25% Rule in Valuing Intellectual Property 410 22.1 Introduction 410 22.2 History of the Rule 411 22.3 Explanation of the Rule 412 22.4 Illustration of the Rule 414 22.5 Application of the Rule 416 22.6 Justification for the Rule 418 22.7 Criticisms of the Rule 419 22.8 Empirical Test of the Rule 421 22.9 Conclusions 426 23 Licensing Economics and Royalty Rates 427 23.1 Pricing the Alternatives 429 23.2 Licensing 435 23.3 Primary Economic Drivers 436 23.4 Secondary Economic Drivers 453 23.5 Evaluating the Net Present Value 457 23.6 Summary 457 24 Determining a Royalty Rate — An Example 460 24.1 Description of the Patented DermaPulse Invention 460 24.2 Financial Review 461 24.3 Intellectual Property Economic Contribution 461 24.4 Analysis of Specific Market Transactions 471 24.5 Conclusion 476 25 Dealing with Early-Stage Intellectual Property 477 25.1 Early-Stage Technology 479 25.2 Development Costs 480 25.3 Risk 483 25.4 Time 484 25.5 The DCF Mechanism 484 25.6 Using Discounted Cash Flow (DCF) as a Measuring Tool 485 26 Trademark Licensing 494 26.1 Trademark Royalties 494 26.2 Royalty Quantification 501 27 Licensing Negotiations and Agreements 518 27.1 Licensing Negotiations 518 27.2 Licensing Agreements 523 xvi Contents 27.3 Critical Questions 526 27.4 Licensing-ln Technology 526 27.5 Licensing-Out Technology 530 27.6 Conclusion 535 28 Licensing Internet Assets 536 28.1 Internet Background 537 28.2 Internet Economics 537 28.3 Internet Licensing 543 29 Another View of Licensing Strategies 548 29.1 Defensive Strategies 548 29.2 Cost Centers 549 29.3 Profit Centers 550 29.4 Integrated Management 552 29.5 Visionary Intellectual Property Management 553 29.6 Making the Big Bucks 553 29.7 Intellectual Property Touches all Aspects of Life 554 29.8 Intangible Assets at the Center of Deals 556 29.9 E-Commerce and Intellectual Property 556 29.10 Specific Trends in Intellectual Property Deal Making 557 29.11 Trademark Strategies 561 29.12 Intangible Riches 563 30 Joint Venture 564 30.1 Ownership Split 566 30.2 Expansion at Overboard Industries, Inc. 566 30.3 Consumer Electronics 567 30.4 Access to the Technology 568 30.5 Access to the Market 569 30.6 Measuring Potential Value from Pin-Point 569 30.7 Weighted Average Cost of Capital 572 30.8 Internal Technology Development 573 30.9 Internal Trademark Development 574 30.10 Going it Alone 577 30.11 Summary 577 30.12 Special Problems with Strategic Alliances 580 31 University Technology Transfer 583 31.1 University Technology Transfer Goals 584 31.2 University Offices oí Technology Transfer 585 31.3 Conflicts of Interest 586 31.4 Nonexclusive Licenses 586 31.5 Finding Technology 587 Contents xvii 31.6 Rewards of Inventorship 588 31.7 Harvard University — Royalty-Sharing Policy for Intellectual Property 588 31.8 Johns Hopkins University — Sharing of Revenue from Intellectual Property 590 31.9 Dealing with Universities 591 32 Organizing for the Future 592 32.1 Mapping Intellectual Property 592 32.2 Identification 593 32.3 Assembled Workforce 595 32.4 Captive Spare Parts Annuity 596 32.5 Computer Software 596 32.6 Copyrights 597 32.7 Customer Lists 597 32.8 Distribution Networks 597 32.9 Trademarks 597 32.10 Strategic Plan and Gap Analysis 597 33 Monitoring License Agreements 605 33.1 Introduction 605 33.2 Overview of Licensing 605 33.3 Licensing Business Risks 607 33.4 License Management 609 33.5 Auditing the Royalty Obligations 610 33.6 Common Audit Procedures and Findings 612 33.7 Remedies from Breaches of Licensing Contracts 613 33.8 Conclusion 614 Part III Infringement Damages 615 34 Lost-Profit Calculations 617 34.1 Definition of Lost-Profit Damages 617 34.2 Patent Infringement 617 34.3 Trademark Infringement 618 34.4 Copyright Infringement 618 34.5 Lost Profits 619 34.6 The Panduit Test for Calculating Lost Profit 622 34.7 Calculating Lost Profit After Panduit 626 34.8 Incremental Profits 630 34.9 Profit and Loss Statements 633 34.10 Fixed and Variable Costs 635 34.11 An Example of Incremental Profits 640 xviii Contents 34.12 Fixed Costs Aren t Always Fixed 646 34.13 Summary 646 35 Royalty Rates and the Georgia-Pacific Factors 648 35.1 Factors for Deriving a Responsible Royalty 648 35.2 Summary 654 36 The Analytical Approach 655 36.1 Normal Industry Profits 656 36.2 A More Comprehensive Analytical Approach 657 36.3 Hypothetical Example 658 36.4 Generic Drug Pricing 659 36.5 Summary 660 37 Discounted Cash Flow Analysis 661 37.1 PharmaProd Commodity Corp. Value 663 37.2 New PharmaProd Corp. Royalty Rate 666 37.3 Lost Value 666 37.4 Summary 668 38 Market-Derived Royalty Rates 669 38.1 Internal Licenses Are Often Self-Serving 669 38.2 Relevant Time Period 670 38.3 Financial Condition of Both Licensing Parties 670 38.4 Relevant Industry Transactions 671 38.5 Governmental Regulations 672 38.6 Are the Independent Parties Really Independent? 673 38.7 Outcome of an Infringement Lawsuit 673 38.8 Summary 674 39 Trademark Damages 675 39.1 Counterfeiting 676 39.2 The Law Relating to Monetary Relief 677 39.3 Confusion 685 39.4 Case Analysis 686 39.5 Conclusion 694 40 Estimating Damages for Infringement of Agricultural Biotechnology-Derived Products 697 40.1 Introduction 697 40.2 What Is Agricultural Biotechnology? 697 40.3 Determining Benefits: The Case of Bt Corn 700 40.4 Conventional Methods of ECB Control 701 Contents xix 40.5 The Economics of ECB Control 702 40.6 Value of Bt 704 41 A Review of Court-Awarded Royalty Rates in Patent Infringement Cases (1 990-2001 ) 706 41.1 Introduction 706 41.2 Royalties as a Measure of Damages 706 41.3 Royalty Rate Awards Categorized by Industry 709 41.4 Basis for Royalty Rates 709 41.5 The Hypothetical Negotiation 712 41.6 Consideration of the Georgia-Pacific Factors 713 41.7 Federal Circuit Decisions on Royalty Awards 715 41.8 Other Considerations in the Determination of a Reasonable Royalty 719 41.9 Conclusion 722 42 Trademark Damage Trends in the Federal Circuit (1982-2001) 723 42.1 Introduction 723 42.2 Overview of Trademarks 724 42.3 Injunctive and Monetary Relief Guidance 725 42.4 Trends in Trademark Damages Awards 726 42.5 Conclusion 731 43 Recent Decision: Copyright Infringement Damages Can Be Based on Value of Licenses 732 43.1 Introduction 732 43.2 On Davis v. The Gap, Inc. 732 43.3 Conclusion 743 44 Trade Secret Damages 747 44.1 Summary of Trade Secret Damages 747 44.2 Royalty Method of Calculating Damages for Misappropriation of Trade Secret 748 44.3 Plaintiff s Lost Profits Method of Calculating Damages for Misappropriation of Trade Secret 749 44.4 Defendant s Profit Method of Calculating Damages for Misappropriation of Trade Secret 749 44.5 Other Methods of Calculating Damages for Misappropriation of Trade Secret 750 44.6 The Accounting Period for Trade Secret Misappropriation Damages 752 xx Contents Part IV Appendices 755 A Investment Rate of Return 757 A.1 Investment Rate of Return 757 A. 2 Required Rate of Return Components 758 A.3 Rate of Return Models 759 A. 4 Weighted Average Cost of Capital 764 A. 5 Appropriate Return on Monetary Assets 765 A. 6 Appropriate Return on Tangible Assets 765 A. 7 Appropriate Return on Intangible Assets and Intellectual Property 766 A. 8 Prejudgment Interest Rates 767 A. 9 References 768 В Theoretical Foundations for the Determination of a Fair Rate of Return on Intellectual Property 769 С The Use and Abuse of Iowa Curves When Quantifying Appraisal Depreciation 771 C.1 Appraisal Depreciation 771 C.2 Iowa-Type Survivor Curve 772 C.3 Appraisal Depreciation and Iowa Curves 780 C.4 Valuation Theory of Condition Percent 780 C.5 Iowa Curve Misapplication and Underlying Fallacious Assumptions 781 C.6 Effects of Misapplication of Iowa Curves on Appraisal Results 783 D Financial and Business Information Sources 785 D.1 A Starting Point 785 785 788 789 789 789 791 793 E Sample Royalty Rate Information 797 E.1 Technology Royalty Rates 797 E.2 Trademark Royalty Rates 804 E.3 Pharmaceuticals & Biotechnology Royalty Rates 808 D.2 Financial Data D.3 CD-ROM Databases D.4 Economic Data D.5 International Data D.6 Sources of Sources D.7 Royalty Rate Information D.8 Publications Contents xxi Overview of New Product Diffusion Sales Forecasting Models 817 F.1 Introduction 817 F.2 New Product Sales Forecasting Models: Product Diffusion 817 F.3 Types of Product Diffusion Models 820 F.4 Caveats of the Bass Model 825 F.5 Conclusions 825 F.6 References 826 Index 829
adam_txt	CONTENTS Preface xxiii Part I Valuation 1 1 Intellectual Property and Intangible Assets in the World Today 3 1.1 Some History 3 1.2 Legislation Created Intellectual Property 5 1.3 Need for Intellectual Property Valuations 6 1.4 Intellectual Property Exploitation 8 1.5 Legal Attitudes Enhance Value 10 1.6 When Intellectual Properties Collide 11 2 Defining Intangible Assets and Intellectual Property 13 2.1 Intangible Assets 13 2.2 Intellectual Property 21 3 Defining Intangible Assets and Intellectual Property — Trademarks 36 3.1 Trademarks 36 3.2 Trademark Defined 37 3.3 Trademarks — The Legal Underpinnings 43 3.4 Trademark Creation 46 3.5 Naming Rights 61 4 Intangible Assets and the Business Enterprise 66 4.1 The Business Enterprise 66 4.2 Summary 79 Because of the rapidly changing nature of information in this field, this product may be updated with annual supplements or with future editions. Please call 1-877-762-2974 or email us at subscriber@wiley.com to receive any current update at no additional charge. We will send on approval any future supplements or new editions when they become available. If you purchased this product directly from John Wiley & Sons, Inc., we have already recorded your subscription for this update service. xi xii Contents 5 Accounting Issues 81 5.1 Introduction 81 5.2 Accounting Principles Relating to Valuation 83 5.3 New Developments in Accounting for Intangible Assets 95 5.4 Cost and Value 109 Appendices 5A Intangible Asset List — Exposure Draft 112 5B Intangible Asset List—Final SFAS No. 141 114 5C Relevant Documents in the Development of SFAS No. 141 and SFAS No. 142 116 6 Tax Issues 117 6.1 Tax Considerations 117 6.2 Primary Standards 122 6.3 Property Definitions 125 6.4 Methods for Determining Intangible Asset Transfer Prices 126 6.5 Cost-Sharing Arrangements 132 6.6 Investment Holding Companies 136 7 Valuation Principles and Techniques 140 7.1 Valuation Principles 140 7.2 Valuation Methods 148 7.3 Summary 155 8 Cost Approach 156 8.1 General Cost Approach Principles 156 8.2 Cautions in Using the Cost Approach for Intellectual Property 1 65 8.3 Using the Cost Approach for Trademarks 1 66 8.4 Using the Cost Approach for Technology 168 8.5 Cost Approach — Summary 1 68 9 Market Approach 169 9.1 Market Transactions of Intellectual Property Indicate Value 169 9.2 Market Events Can Indicate Value 1 71 9.3 A Lost Patent Indicates Value 171 9.4 Analyzing the Business Enterprise to Indicate Value 175 9.5 Market Approach — Summary 1 83 10 Income Approach — Quantifying the Economic Benefit 185 10.1 Market Value Equals the Present Value of the Future Economic Benefits of Ownership 1 85 10.2 Quantifying the Economic Benefit 185 Contents xiii 11 Income Approach — Timing and Pattern of Receiving the Economic Benefit 212 11.1 Market Value Equals the Present Value of the Future Economic Benefits of Ownership 212 11.2 Economic Life Defined 212 11.3 Economic Life of Intangible Assets and Intellectual Property 219 12 Income Approach — Evaluating the Risk of Receiving the Economic Benefit and Putting It All Together 241 12.1 Market Value Equals the Present Value of the Future Economic Benefits of Ownership 241 12.2 Income Approach — Putting It All Together 245 13 When Theory Meets Practice 252 13.1 Valuation Challenges 252 13.2 Common Valuation Errors 255 13.3 Valuation Method Preferences 259 14 Special Valuation Situations 270 14.1 Intangibles in Bankruptcy and as Collateral 270 14.2 Ad Valorem Taxes 277 14.3 Intangible Assets in Regulated Industries 277 15 Early-Stage Technology Valuation 285 15.1 Early-Stage Technology 285 15.2 Cost Approach and Early-Stage Technology 286 15.3 Market Approach and Early-Stage Technology 286 15.4 Income Approach and Early-Stage Technology 289 15.5 Summary 296 16 International Issues 301 16.1 International Valuation Standards 302 16.2 Other International Valuation Issues 305 16.3 Summary 309 PartII Licensing 311 17 Emergence of Intellectual Property Exploitation Strategies 313 17.1 Factors Driving Strategic Alliances: Time, Cost, and Risk 314 17.2 A Short History of Corporate Strategies 316 17.3 Legal Attitudes Enhance Value 320 xiv Contents 18 Introduction to Exploitation Strategies 321 18.1 Some History 321 18.2 Enter Technological Change 321 18.3 Business Enterprise Model 323 18.4 Economics of Exploitation 325 18.5 Development of Intellectual Property 326 18.6 Source of Production Factors 328 18.7 Internal Strategies 329 18.8 The Entrepreneurial Corporation 330 18.9 Acquisition 331 18.10 External Strategies 332 18.11 Ownership Alliances 338 18.12 Other Liquidity Concerns 339 18.13 Establishing a Cross-ownership Alliance 341 18.14 Strategic Alliances — Rapid Technological Change 342 18.15 Creating Industry Standards 345 19 Economic Contributions of Intellectual Property 352 19.1 Intellectual Property Contributes Powerfully to Earnings 352 19.2 Intellectual Property Sustains Superior Earnings 352 19.3 Enhanced Profits and Intellectual Property 353 19.4 Investment Rate of Return Analysis 359 19.5 Discounted Cash Flow Analysis 364 19.6 Comparable License Transactions 367 19.7 Simplistic Rules of Thumb 374 20 Global Exploitation Potential 376 20.1 Impact of the International Environment 376 20.2 Accounting Issues 377 203 Taxes 379 20.4 Transfer Pricing 380 20.5 Methods for Determining Intangible Asset Transfer Prices 385 20.6 Political Risk 387 20.7 New Markets 388 20.8 Repatriation 389 20.9 Cultural Issues 391 20.10 investment Risk 391 20.11 Legal Protection 393 20.12 Summary 394 21 Risks of Exploitation 395 21.1 Elements of Risk 395 21.2 Risk and Royalties 401 Contents xv 21.3 Intellectual Property Economic Life 405 21.4 Summary 409 22 Use of the 25% Rule in Valuing Intellectual Property 410 22.1 Introduction 410 22.2 History of the Rule 411 22.3 Explanation of the Rule 412 22.4 Illustration of the Rule 414 22.5 Application of the Rule 416 22.6 Justification for the Rule 418 22.7 Criticisms of the Rule 419 22.8 Empirical Test of the Rule 421 22.9 Conclusions 426 23 Licensing Economics and Royalty Rates 427 23.1 Pricing the Alternatives 429 23.2 Licensing 435 23.3 Primary Economic Drivers 436 23.4 Secondary Economic Drivers 453 23.5 Evaluating the Net Present Value 457 23.6 Summary 457 24 Determining a Royalty Rate — An Example 460 24.1 Description of the Patented DermaPulse Invention 460 24.2 Financial Review 461 24.3 Intellectual Property Economic Contribution 461 24.4 Analysis of Specific Market Transactions 471 24.5 Conclusion 476 25 Dealing with Early-Stage Intellectual Property 477 25.1 Early-Stage Technology 479 25.2 Development Costs 480 25.3 Risk 483 25.4 Time 484 25.5 The DCF Mechanism 484 25.6 Using Discounted Cash Flow (DCF) as a Measuring Tool 485 26 Trademark Licensing 494 26.1 Trademark Royalties 494 26.2 Royalty Quantification 501 27 Licensing Negotiations and Agreements 518 27.1 Licensing Negotiations 518 27.2 Licensing Agreements 523 xvi Contents 27.3 Critical Questions 526 27.4 Licensing-ln Technology 526 27.5 Licensing-Out Technology 530 27.6 Conclusion 535 28 Licensing Internet Assets 536 28.1 Internet Background 537 28.2 Internet Economics 537 28.3 Internet Licensing 543 29 Another View of Licensing Strategies 548 29.1 Defensive Strategies 548 29.2 Cost Centers 549 29.3 Profit Centers 550 29.4 Integrated Management 552 29.5 Visionary Intellectual Property Management 553 29.6 Making the Big Bucks 553 29.7 Intellectual Property Touches all Aspects of Life 554 29.8 Intangible Assets at the Center of Deals 556 29.9 E-Commerce and Intellectual Property 556 29.10 Specific Trends in Intellectual Property Deal Making 557 29.11 Trademark Strategies 561 29.12 Intangible Riches 563 30 Joint Venture 564 30.1 Ownership Split 566 30.2 Expansion at Overboard Industries, Inc. 566 30.3 Consumer Electronics 567 30.4 Access to the Technology 568 30.5 Access to the Market 569 30.6 Measuring Potential Value from Pin-Point 569 30.7 Weighted Average Cost of Capital 572 30.8 Internal Technology Development 573 30.9 Internal Trademark Development 574 30.10 Going it Alone 577 30.11 Summary 577 30.12 Special Problems with Strategic Alliances 580 31 University Technology Transfer 583 31.1 University Technology Transfer Goals 584 31.2 University Offices oí Technology Transfer 585 31.3 Conflicts of Interest 586 31.4 Nonexclusive Licenses 586 31.5 Finding Technology 587 Contents xvii 31.6 Rewards of Inventorship 588 31.7 Harvard University — Royalty-Sharing Policy for Intellectual Property 588 31.8 Johns Hopkins University — Sharing of Revenue from Intellectual Property 590 31.9 Dealing with Universities 591 32 Organizing for the Future 592 32.1 Mapping Intellectual Property 592 32.2 Identification 593 32.3 Assembled Workforce 595 32.4 Captive Spare Parts Annuity 596 32.5 Computer Software 596 32.6 Copyrights 597 32.7 Customer Lists 597 32.8 Distribution Networks 597 32.9 Trademarks 597 32.10 Strategic Plan and Gap Analysis 597 33 Monitoring License Agreements 605 33.1 Introduction 605 33.2 Overview of Licensing 605 33.3 Licensing Business Risks 607 33.4 License Management 609 33.5 Auditing the Royalty Obligations 610 33.6 Common Audit Procedures and Findings 612 33.7 Remedies from Breaches of Licensing Contracts 613 33.8 Conclusion 614 Part III Infringement Damages 615 34 Lost-Profit Calculations 617 34.1 Definition of Lost-Profit Damages 617 34.2 Patent Infringement 617 34.3 Trademark Infringement 618 34.4 Copyright Infringement 618 34.5 Lost Profits 619 34.6 The Panduit Test for Calculating Lost Profit 622 34.7 Calculating Lost Profit After Panduit 626 34.8 Incremental Profits 630 34.9 Profit and Loss Statements 633 34.10 Fixed and Variable Costs 635 34.11 An Example of Incremental Profits 640 xviii Contents 34.12 Fixed Costs Aren't Always Fixed 646 34.13 Summary 646 35 Royalty Rates and the Georgia-Pacific Factors 648 35.1 Factors for Deriving a Responsible Royalty 648 35.2 Summary 654 36 The Analytical Approach 655 36.1 Normal Industry Profits 656 36.2 A More Comprehensive Analytical Approach 657 36.3 Hypothetical Example 658 36.4 Generic Drug Pricing 659 36.5 Summary 660 37 Discounted Cash Flow Analysis 661 37.1 PharmaProd Commodity Corp. Value 663 37.2 New PharmaProd Corp. Royalty Rate 666 37.3 Lost Value 666 37.4 Summary 668 38 Market-Derived Royalty Rates 669 38.1 Internal Licenses Are Often Self-Serving 669 38.2 Relevant Time Period 670 38.3 Financial Condition of Both Licensing Parties 670 38.4 Relevant Industry Transactions 671 38.5 Governmental Regulations 672 38.6 Are the Independent Parties Really Independent? 673 38.7 Outcome of an Infringement Lawsuit 673 38.8 Summary 674 39 Trademark Damages 675 39.1 Counterfeiting 676 39.2 The Law Relating to Monetary Relief 677 39.3 Confusion 685 39.4 Case Analysis 686 39.5 Conclusion 694 40 Estimating Damages for Infringement of Agricultural Biotechnology-Derived Products 697 40.1 Introduction 697 40.2 What Is Agricultural Biotechnology? 697 40.3 Determining Benefits: The Case of Bt Corn 700 40.4 Conventional Methods of ECB Control 701 Contents xix 40.5 The Economics of ECB Control 702 40.6 Value of Bt 704 41 A Review of Court-Awarded Royalty Rates in Patent Infringement Cases (1 990-2001 ) 706 41.1 Introduction 706 41.2 Royalties as a Measure of Damages 706 41.3 Royalty Rate Awards Categorized by Industry 709 41.4 Basis for Royalty Rates 709 41.5 The Hypothetical Negotiation 712 41.6 Consideration of the Georgia-Pacific Factors 713 41.7 Federal Circuit Decisions on Royalty Awards 715 41.8 Other Considerations in the Determination of a Reasonable Royalty 719 41.9 Conclusion 722 42 Trademark Damage Trends in the Federal Circuit (1982-2001) 723 42.1 Introduction 723 42.2 Overview of Trademarks 724 42.3 Injunctive and Monetary Relief Guidance 725 42.4 Trends in Trademark Damages Awards 726 42.5 Conclusion 731 43 Recent Decision: Copyright Infringement Damages Can Be Based on Value of Licenses 732 43.1 Introduction 732 43.2 On Davis v. The Gap, Inc. 732 43.3 Conclusion 743 44 Trade Secret Damages 747 44.1 Summary of Trade Secret Damages 747 44.2 Royalty Method of Calculating Damages for Misappropriation of Trade Secret 748 44.3 Plaintiff's Lost Profits Method of Calculating Damages for Misappropriation of Trade Secret 749 44.4 Defendant's Profit Method of Calculating Damages for Misappropriation of Trade Secret 749 44.5 Other Methods of Calculating Damages for Misappropriation of Trade Secret 750 44.6 The Accounting Period for Trade Secret Misappropriation Damages 752 xx Contents Part IV Appendices 755 A Investment Rate of Return 757 A.1 Investment Rate of Return 757 A. 2 Required Rate of Return Components 758 A.3 Rate of Return Models 759 A. 4 Weighted Average Cost of Capital 764 A. 5 Appropriate Return on Monetary Assets 765 A. 6 Appropriate Return on Tangible Assets 765 A. 7 Appropriate Return on Intangible Assets and Intellectual Property 766 A. 8 Prejudgment Interest Rates 767 A. 9 References 768 В Theoretical Foundations for the Determination of a Fair Rate of Return on Intellectual Property 769 С The Use and Abuse of Iowa Curves When Quantifying Appraisal Depreciation 771 C.1 Appraisal Depreciation 771 C.2 Iowa-Type Survivor Curve 772 C.3 Appraisal Depreciation and Iowa Curves 780 C.4 Valuation Theory of Condition Percent 780 C.5 Iowa Curve Misapplication and Underlying Fallacious Assumptions 781 C.6 Effects of Misapplication of Iowa Curves on Appraisal Results 783 D Financial and Business Information Sources 785 D.1 A Starting Point 785 785 788 789 789 789 791 793 E Sample Royalty Rate Information 797 E.1 Technology Royalty Rates 797 E.2 Trademark Royalty Rates 804 E.3 Pharmaceuticals & Biotechnology Royalty Rates 808 D.2 Financial Data D.3 CD-ROM Databases D.4 Economic Data D.5 International Data D.6 Sources of Sources D.7 Royalty Rate Information D.8 Publications Contents xxi Overview of New Product Diffusion Sales Forecasting Models 817 F.1 Introduction 817 F.2 New Product Sales Forecasting Models: Product Diffusion 817 F.3 Types of Product Diffusion Models 820 F.4 Caveats of the Bass Model 825 F.5 Conclusions 825 F.6 References 826 Index 829
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id	DE-604.BV021766320
illustrated	Illustrated
index_date	2024-07-02T15:36:52Z
indexdate	2024-07-09T20:43:34Z
institution	BVB
language	English
oai_aleph_id	oai:aleph.bib-bvb.de:BVB01-014979310
oclc_num	635250666
open_access_boolean
owner	DE-M382 DE-91 DE-BY-TUM DE-1046 DE-945 DE-473 DE-BY-UBG DE-703 DE-706
owner_facet	DE-M382 DE-91 DE-BY-TUM DE-1046 DE-945 DE-473 DE-BY-UBG DE-703 DE-706
physical	XXIV, 864 S. Ill., graph. Darst.
publishDate	2005
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spelling	Smith, Gordon V. 1937- Verfasser (DE-588)170653862 aut Intellectual property valuation, exploitation, and infringement damages [1] Hauptband Gordon V. Smith ; Russell L. Parr [4. ed.] Hoboken, NJ Wiley 2005 XXIV, 864 S. Ill., graph. Darst. txt rdacontent n rdamedia nc rdacarrier Exploit (DE-588)4752509-5 gnd rswk-swf Bewertungsring (DE-588)4145185-5 gnd rswk-swf Bewertungsring (DE-588)4145185-5 s Exploit (DE-588)4752509-5 s DE-604 Parr, Russell L. 1954- Verfasser (DE-588)171485300 aut (DE-604)BV021459411 1 Digitalisierung UB Bamberg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=014979310&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis
spellingShingle	Smith, Gordon V. 1937- Parr, Russell L. 1954- Intellectual property valuation, exploitation, and infringement damages Exploit (DE-588)4752509-5 gnd Bewertungsring (DE-588)4145185-5 gnd
subject_GND	(DE-588)4752509-5 (DE-588)4145185-5
title	Intellectual property valuation, exploitation, and infringement damages
title_auth	Intellectual property valuation, exploitation, and infringement damages
title_exact_search	Intellectual property valuation, exploitation, and infringement damages
title_exact_search_txtP	Intellectual property valuation, exploitation, and infringement damages
title_full	Intellectual property valuation, exploitation, and infringement damages [1] Hauptband Gordon V. Smith ; Russell L. Parr
title_fullStr	Intellectual property valuation, exploitation, and infringement damages [1] Hauptband Gordon V. Smith ; Russell L. Parr
title_full_unstemmed	Intellectual property valuation, exploitation, and infringement damages [1] Hauptband Gordon V. Smith ; Russell L. Parr
title_short	Intellectual property
title_sort	intellectual property valuation exploitation and infringement damages hauptband
title_sub	valuation, exploitation, and infringement damages
topic	Exploit (DE-588)4752509-5 gnd Bewertungsring (DE-588)4145185-5 gnd
topic_facet	Exploit Bewertungsring
url	http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=014979310&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA
volume_link	(DE-604)BV021459411
work_keys_str_mv	AT smithgordonv intellectualpropertyvaluationexploitationandinfringementdamages1 AT parrrusselll intellectualpropertyvaluationexploitationandinfringementdamages1

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