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« Abraxis Bioscience, Inc. v. Mayne Pharma (USA) Inc. (Fed. Cir. 2006) | Main | Bergsma vs. Sutcliffe (B.P.A.I. 2006) »

November 27, 2006

Delaware Set to Boost Its Economy With Donated Patents

    By Jason Derry --

Delawarequarter The Philadelphia Inquirer reported today that Delaware has instituted a new agency to receive donated patents with the goal of inspiring economic growth within the State.  The agency hopes to generate Delaware-based companies through licensing of its available patents.  The agency currently has over 250 patents from DuPont Co. and Hercules Chemical Co., Inc.  The available patents can be viewed here.

In 2001, Wisconsin started The Center for Advanced Technology and Innovation to facilitate economic growth in its state through licensing of donated patents.  The Inquirer reports that four companies have been started through The Center's work.

Patent donation is a great way to reap some benefit from patents that a company owns but doesn't plan to commercialize.  If the company cannot, or does not want to, license such patents, it can donate the patents and receive significant tax benefits.  However, the IRS has recently cracked down on overvaluation of donated patents.  Thus, if you are considering patent donation, be sure to carefully review the valuation requirements.

For more information on patent donation, check out the Special Report on Patent Donations prepared for the Department of Treasury; a law review article by Don Macbean; and a Policy Review prepared by Ron Layton and Peter Bloch for the International Intellectual Property Institute.  In addition, be sure to contact the IRS for the latest requirements.

Jason Derry, Ph.D., who graduated with honors from DePaul University College of Law, is a molecular biologist and founding author of Patent Docs.

Posted at 01:33 PM in Biotech/Pharma Business, Licensing |

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