Method of protecting against a change in value of intellectual property, and product providing such protection

• US 6,959,280 B1
• Filed: 12/29/1999
• Issued: 10/25/2005
• Est. Priority Date: 11/08/1997
• Status: Expired due to Fees

• Current Assignee: IP Value, LLC
• Original Assignee: IP Value, LLC
• Inventors: Risen, William M. Jr., Covello, Diane F.
• Primary Examiner(s): Rosen, Nicholas D.
• Application Number:
  US09/473,662
• Time in Patent Office: 2,127 Days
• Field of Search: 705/1, 705/4, 283/54
• US Class Current: 705/4
• CPC Class Codes: G06Q 10/00 Administration; Management
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G06Q 50/184 Intellectual property management
• CPC Class Codes: G06Q 99/00 Subject matter not provided for in other groups of this subclass

Abstract

Disclosed herein is a method of providing protection against an unexpected change in value of an intellectual property asset, which includes:

• • (a). obtaining a description of at least one intellectual property asset of a first party,
  • (b). determining a value of the at least one intellectual property asset,
  • (c). determining a cost of providing compensation for an unexpected change in value of the at least one intellectual property asset, and
  • (d). offering to provide compensation for at least a portion of any unexpected change in value of the at least one intellectual property asset to a person with an interest in the first party. A corresponding data processing system, insurance proposal form and computer-generated insurance policy form also are disclosed. The method, system and forms of the invention can be used, for example, as part of a “due diligence” analysis in the context of the purchase and/or sale of intellectual property assets.

Claims

1. A computer-implemented method of providing protection against an unexpected change in value of an intellectual property asset, comprising:

(a). obtaining a description of at least one intellectual property asset of a first party,

(b). determining a value of said at least one intellectual property asset,

(c). determining a cost of providing compensation for an unexpected change in value of said at least one intellectual property asset,

(d). computer-generating an offer to provide compensation for at least a portion of any unexpected change in value of said at least one intellectual property asset to a person with an interest in the first party,

(e). obtaining a first fee in exchange for said offer to provide compensation, and

(f) accepting the offer to provide compensation;

wherein step (f) is executed by said person with an interest in the first party, and

wherein step (f) includes paying a second fee to the offeror as an insurance premium.

2. A method according to claim 1, wherein step (d) includes providing an evaluation of said at least one intellectual property asset.

3. A method according to claim 1, wherein said value includes at least one future value of said at least one intellectual property asset, and said unexpected change in value is determined at the time for which said at least one future value was determined.

4. A method according to claim 3, wherein said value further includes a current value of said at least one intellectual property asset.

5. A method according to claim 1, wherein said intellectual property asset includes at least one member selected from the group consisting of patent rights, patent application rights, trademark rights, service mark rights, copyright rights, trade secret rights and trade dress rights.

6. A method according to claim 1, wherein said person with an interest in the first party includes at least one member selected from the group consisting of an officer of the first party, a director of the first party, a prospective purchaser of said at least one intellectual property asset, an officer of the prospective purchaser, and a director of the prospective purchaser.

7. A method according to claim 1, wherein said person with an interest in the first party includes at least one member selected from the group consisting of a prospective purchaser of said at least one intellectual property asset, an officer of the prospective purchaser, and a director of the prospective purchaser.

8. A method according to claim 1, wherein said unexpected change in value is based upon a legal determination of at least one of invalidity and unenforceability of said at least one intellectual property asset.

9. A method according to claim 1, wherein step (b) includes analyzing the validity of said at least one intellectual property asset.

10. A method according to claim 1, wherein said at least one intellectual property asset includes at least one patent right.

11. A method according to claim 1, wherein the offer to provide compensation is made to said party with an interest in the first party in connection with transfer of ownership of said at least one intellectual property asset to a second party.

12. A computer-implemented method of providing evidence regarding risk to a value of an intellectual property asset, the method comprising:

(a). obtaining a description of at least one intellectual property asset of a first party,

(b). determining a value of said at least one intellectual property asset,

(c). determining a cost of providing compensation for an unexpected change in value of said at least one intellectual property asset,

(d). computer-generating an offer to provide compensation for at least a portion of any unexpected change in value of said at least one intellectual property asset to a person with an interest in the first party,

(e) obtaining a first fee in exchange for the offer to provide compensation, and

(f) declining the offer to provide compensation, wherein step (f) is executed by said person with an interest in the first party, and wherein said person with an interest in the first party in consequence does not pay a second fee as an insurance premium.

13. A method according to claim 12, wherein step (d) includes providing an evaluation of said at least one intellectual property asset.

14. A method according to claim 12, wherein said value includes at least one future value of said at least one intellectual property asset, and said unexpected change in value is determined at the time for which said at least one future value was determined.

15. A method according to claim 14, wherein said value further includes a current value of said at least one intellectual property asset.

16. A method according to claim 12, wherein said intellectual property asset includes at least one member selected from the group consisting of patent rights, patent application rights, trademark rights, service mark rights, copyright rights, trade secret rights and trade dress rights.

17. A method according to claim 12, wherein said person with an interest in the first party includes at least one member selected from the group consisting of an officer of the first party, a director of the first party, a prospective purchaser of said at least one intellectual property asset, an officer of the prospective purchaser, and a director of the prospective purchaser.

18. A method according to claim 12, wherein said person with an interest in the first party includes at least one member selected from the group consisting of a prospective purchaser of said at least one intellectual property asset, an officer of the prospective purchaser, and a director of the prospective purchaser.

19. A method according to claim 12, wherein said unexpected change in value is based upon a legal determination of at least one of invalidity and unenforceability of said at least one intellectual property asset.

20. A method according to claim 12, wherein step (b) includes analyzing the validity of said at least one intellectual property asset.

21. A method according to claim 12, wherein said at least one intellectual property asset includes at least one patent right.

22. A method according to claim 12, wherein the offer to provide compensation is made to said party with an interest in the first party in connection with transfer of ownership of said at least one intellectual property asset to a second party.