Recent Changes In Statute And Case Law: Effects On The Value Of Intellectual Property Assets ? Introduction

As in other industries, companies engaged in mining and extraction use and develop intellectual property (?IP?) in the form of new technologies or production processes. The development of IP assets in mining may occur as a byproduct of ongoing operations, or result from investment in dedicated R&D efforts. New technology may lower costs, increase quality of output, and/or increase operational efficiency or safety. Key business questions with respect to any new technology are how best to use IP assets, how to protect them and how to derive value from them. IP assets can provide a competitive advantage to a developing firm that uses the technology to improve its operating results. The developing firm can preclude others from using the technology if it believes that is the best way to exploit the technology?s value. Or, it can be shared with others taking care to ensure rights are maintained, thereby generating royalty income or strategic value through cross licensing or other business relationships. Either way, in order to fully realize the maximum economic benefit, innovators must protect the IP assets and control their dissemination.