Patents as a corporate strategy
Did you know that more than 60,000 patent families have been declared as being essential for the 5G telecommunications standard?
UACS was delighted to welcome Dr. Martin Schlosser, German and European Patent Attorney, on May 9th, 2024, as he delved into the realm of patents and intellectual property. The accounting students were treated to a valuable session examining the interdisciplinary aspects of patents as a strategic tool for corporations. Under the guidance of Professors Igor Srbinoski and Dusica Stevcevska Srbinoska, students explored patents through the lenses of European and international legal frameworks, international accounting standards (IAS 38), case studies, and key takeaways, emphasizing the importance of patenting before commercialization.
In an age where youth have unprecedented global access, the imperative to patent and protect their ideas and creativity is paramount before venturing into commercial endeavors. The array of intangible assets holds immense potential to significantly impact company valuation amidst today’s innovation-driven landscape. Thus, adept management necessitates a nuanced understanding of intellectual property rights to safeguard business concepts, while navigating common pitfalls in IP management.
We aim to expand on this relevant discourse, branching into areas such as valuing intangible assets in major restructuring scenarios like M&A transactions. Though often overlooked, this topic is foundational for securing market advantage and facilitating company growth.
