Preface

AuthorRussell L. Parr
ProfessionPresident of Intellectual Property Research Associates
Pages13-15
PREFACE
The rst version of this book, Valuationof Intellectual Property and Intangible Assets, was
published in 1990 with co-author Gordon V. Smith. We followed it with Intellectual Prop-
erty: Joint Venture and Prot Strategies, also co-authored with Gordon, and Intellectual
Property Infringement Damages: A Litigation Support Handbook, solo authored by me.
Somewhere along the way, all three books were combined into Intellectual Property: Valu-
ation, Exploitation, and Infringement Damages. The previous edition of the combined book
was updated 12 years ago.
A lot has happened since then, requiring an almost complete rewrite of the book into this
new edition. Just a few examples showthe continued dominance of intellectual property on
all aspects of life around the globe:
Creation of joint ventures between traditional automakers and high-tech rms to
create automatous driving vehicles. These ventures reinforce the concept that no
single company any longer possesses all of the needed core competencies to design
and manufacture complex products.
Advancement of cell phone usages to the point that many consumers are discon-
necting from landlines demonstrates the disruptive nature of intellectual property
inventions as the traditional dominance of hardwired telephone services is brought
to its knees.
A hyperloop transportation system proposed along the east coast corridor in
the United States will move people between New York and Washington, DC,
in 29 minutes, possibly making train travel once again predominant over air travel.
Huge prices paid to acquire comic book copyrights to use as the basis of blockbuster
movies and enormous theme parks generating billions of dollars in revenues and
prots. Action heroes are being exploited to unleash powerful economic value never
recognized in the past.
Corporate use of big data to predict buying decisions before a consumer even consid-
ers the purchase is making companies hugely efcient as they can accurately predict
the amount of location requirements associated with manufacturing and inventory.
Decline of traditional media as Google and Facebook earn more from advertising
than all the newspapers, magazines, and radio stations in the world represents
another example of the disruptive nature of intellectual property, making once-
dominant industries minor activities.
Consumer purchases over the Internet via Amazon and others obliterating shopping
malls across the country and changing the buying habits and lives of consumers.
The rise of patent aggregators who assemble huge patent portfolios and sell partic-
ipating interests to member corporations introduces an entirely new monetarization
proposition for intellectual property.
Patent trolls have emerged as a blight on high-tech companies, initiating thousands
of patent infringement lawsuits and changing the way damages are calculated.
More specically, 85% of the value of major corporations of all types is comprised of
intellectual property and intangible assets. These assets are the basis for creating wealth.
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