Original Press Release
ANSI Seeks Comments on Proposal for New ISO Work Item on Patent Valuation
Press release date: December 19, 2007
The Deutsches Institut fur Normung (DIN) has submitted a proposal to the International Organization for Standardization (ISO) for a new work item on monetary patent valuation. In today's global economy, intangible resources such as expertise and innovative new technologies are major contributors to a company's success in the marketplace. Patents and other instruments of industrial property rights protection play an important role in securing the profits from technology-based innovations.
A uniform valuation standard for patents will support innovation and will benefit the many industries that rely heavily on intangible assets as profit drivers.
The intended standard will specify basic requirements for a proper patent valuation process. Specifically, the document seeks to:
Specify the valuation object; Determine the future orientation of monetary patent valuation; Define the relevance of the valuation purpose and exploitation scenario; Describe the valuation date principle; Outline risk considerations (legal, technical, commercial); Identify monetary value potential (legal, technical, commercial) as determinants for the monetary patent value; and Establish valuation approaches.
As the official U.S. member of the ISO, the American National Standards Institute (ANSI) is seeking comments on the DIN proposal from all affected U.S. stakeholders. All input will be used to develop a recommended position with possible comments that will be presented to the ANSI ISO Council (AIC) for approval.
Interested parties are invited to review the proposal and submit comments to Steven Cornish, ANSI director of international policy (email@example.com), by Thursday, January 31, 2008.