Over the past few decades, the world has seen dizzying advancements in technology. By way of example, Australia only connected to the Internet in 1989 – now it’s impossible to imagine life without it. But perhaps the most exciting development in recent years is the rapid and accelerating commercialisation of space.
A patent provides a limited monopoly right to exclude others from performing your invention. In return for this right, the invention described in the patent is made publicly available.
Intangible assets cover a wide variety of assets, from know-how, trade secrets, confidential information, intellectual capital, data, patents…
Did you know that intangible assets typically account for more than 80% of the value of most businesses?
In a perfect world, an inventor would have the time and the money to ensure that an invention is sufficiently developed and refined with a marketing strategy and future revenue streams in place before a provisional patent application is filed and the invention disclosed to the public.