SEVILLE, SPAIN - “Patent valuation is neither completely a science nor an art; it is more accurately compared to the ancient field of alchemy,” According to Samar Al-Labbad, deputy chair of Talal Abu-Ghazaleh Organization (TAGorg).
Speaking at the Patent Value Session during the International Federation of Intellectual Property Attorneys (FICPI) 10th Open Forum, Al-Labbad added that creative valuation strategies can make a patent appear very valuable or not so valuable depending on the circumstances and the desired outcome.
“Because of the subjectivity involved, it is quite possible to come up with numerous evaluations for the same property,” she pointed out.
Stressing on the need for having practical methods of patent valuation, Al-Labbad said that most of the valuation work in the Arab region is directly tied to underlying business activity or opportunity.
“Many of the issues that may relate to valuation in the international arena are chiefly theoretical from my point of view,” she added.
Al-Labbad also shed light on, the value of patents and how it is reflected on the company’s balance sheet, the maximization of the potential benefit of patents to the company as well as how patent valuation is done depending on the aim of valuation.
Along with Al-Labbad, Abu-Ghazaleh Intellectual Property (AGIP) Regional Office Executive Director, Charles Sha’ban, and International Clients Department Manager, Dima Naber, participated in the Forum.
Sponsored by Managing Intellectual Property (MIP) and Trademarkworld, FICPI’s 10th Open Forum was held in Seville, Spain, November 7-10, 2007.
The Forum brought together FICPI members, Intellectual Property (IP) practitioners as well as colleagues from the IP industry to debate recent international developments in IP protection and their impact on day-to-day practice.