Henry Woodward was a Canadian medical student developing devices for medical field. He was the inventor of the electric light patent filed in 1874. Thomas Edison bought the patent along with many others. This transaction took place some 150 years ago, when Edison, in pursuit of rights to the electric light, bought Woodward’s patent in this field.
75 years later, on August 11, 1942, Hollywood darling Hedy Lamarr (actress by day, inventor by night) co-invented frequency-hopping, the basis of many of today’s communication systems. She, eventually sold this patent to Bell Labs.
As you can see, the commoditization of IP is nothing new. In fact, it has been one of the most important drivers of commercialization of innovation and has significantly impacted the technologies made available to consumers.
Patent valuation services play an important role in this ecosystem. A multi-disciplined set of expertise is required to properly value intellectual property, especially for high-tech/high-science patents. Please contact us if you have any further questions about our patent valuation services. Or, read more about our IP valuation methods for a closer look at how we perform them.