Monday, March 19, 2007

Please donate your idle patents

According to Yahoo, "not-for-profit groups and state governments are asking companies to donate dormant patents so they can be passed to local entrepreneurs who try to build businesses out of them.

In fact, about 90 percent to 95 percent of all patents are idle, according to Ron Sampson, the secretary of the not-for-profit National Institute for Strategic Technology Acquisition and Commercialization in Manhattan, Kan.

It is interesting to note that companies used to receive tax benefits for donating patents but Congress ended the incentive in 2004 after too many companies tried to unload useless patents with little chance of being commercialized.

Now that federal tax breaks have been eliminated, there's less of an incentive for companies to offer unused patents."

(link to the full article)

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