There are several types of property which may be owned and controlled. Real property and personal property are generally understood. The extent of ownership in these types of property is defined by the physical asset, and/or by a written description. Both of these types of property are tangible.
A third type of property is Intellectual Property. It is generally less tangible than the other types of property. However, in modern times, the value and importance of property which is developed and protected through intellectual means becomes more critical to technology oriented societies, such as we have in the United States.
Intellectual Property, and in particular patents, are described almost entirely in words. The actual nature and extent of the asset is created and maintained by the document itself.
There is a tendency and temptation on the part of laypersons to somehow paraphrase and simplify the meaning and therefore the scope of a patent document. The result can often be misleading.
Instead, the “claims” section of the patent properly sets out the scope of protection.
The patent document itself is carefully prepared by patents experts. It is examined and granted by patent experts in the United States Government. The patent is by law, presumed to be valid after the actual grant of the patent.
The most reliable means of understanding the s cope of protection afforded by a patent is to understand the Patent document itself.
Therefore, the patent document itself, which is the subject of this valuation, is attached hereto. (See attached patent document for U.S. Patent 603259.) |
