Intellectual Property Infringement - a New Form

Intellectual Property Infringement - a New Form

Intellectual Property Infringement - a New Form

INTELLECTUAL PROPERTY IS VALUABLE RIGHTS OR ASSETS that are owned but are not hard assets like physical things that can be seen and touched. Non-physical assets include patents, copyrights, customer lists, etc.

Like any other asset owned by someone or by an organization, others can't take it or use it without the permission of the owner. In order to use a patent belonging to someone else, one must agree to pay a license fee and royalties to the owner. If a patent is used without the permission of the owner, doing so is considered to be patent infringement; where the rights of someone are violated causing financial harm.

The substance of the negative aspect of an act of intellectual property infringement is the destruction of revenues belonging to the owner.

HAL'S PATENTS are called "The Reverse Thrust System for the Reduction of Muzzle Jump and Recoil in Firearms." He obtained them at great effort and cost over a period of years. When finally marketed it should revolutionize the shooting industry and provide millions of dollars of royalties to him. It could also greatly assist the military and police forces.

But he has had some difficulties in successfully marketing the patents, mainly due to inadequate funds resulting from the virtual elimination of his ability to obtain earnings from the providing of forensic accounting services. Also, there have been several somewhat mysterious disappearances by otherwise interested gun manufacturers and investors.

His patent attorney who is familiar with Hal's negative circumstances made a suggestion. He told Hal, "Given your situation and your age (75), why don't you just flip the patents for ten cents on the dollar? That way you would have enough money to live on and retire and you could more-or-less ignore the bad guys." P.S. The full value of the patents is over six million dollars.

It was a good idea. If Hal were totally out of the picture regarding the patents and he had no further share of future earnings to be covertly taken away, that would be it. The problem would be how to conclude the sale of the patents for ten cents on the dollar before the FBI guy found out and put a stop to the sale.

Unfortunately, the "secret" manner Hal attempted to use apparently is detected by the goons and potential buyers are caused to break off all communication with him (that's the MO).