Headline, March 11 2022/ FUTURE : ''' '' BILLIONS * DOLLARS BLUEPRINT '' '''

FUTURE : 

''' '' BILLIONS * DOLLARS 

BLUEPRINT '' '''

DEMOCRACY THRIVES ON MORE DEMOCRACY. SET THE NATIONS FREE : set the students free. Allow every country to build its own database, and formulate and control its own data but with democratic accountability.''

THERE'S NO ONE LIKE GRANDMA : ! DECENTRALIZE - DECENTRALIZE - DECENTRALIZE ! : The leaders all, the countries all - are very apprehensive, and very rightly concerned so, about the data emanating from their citizens on The World Students Society.

A Resolution by the Global Founder Framers of the World Students Society, must be tabled, debated and passed, allowing each and every country to set up, manage and account for their own respective databases.

Put the Ghosts of the present, past and future to rest, till the time The World Students Society has elected students to office, who can then democratically decide the model to follow on the blockchain.

VALUING PATENTS : Billion-dollar blueprints. Time enough for a new way of understanding the high but elusive worth of intellectual property.

Research on the subject contains some interesting insights : Frederic Shelton IV does not feature among prominent innovators of the 20th century but he probably should.

He works at Ethicon, a medical-devices subsidiary at Johnson & Johnson, and PatentVictor values his inventions at a cool $14 billion, placing him aeons ahead of anyone else. His top three are for a mechanical surgical instrument, surgical staples and the cartridge for the staples; in short, tools to cut tissue and bind it up.

Ethicon itself, a medical - device maker holds 95 of the world's 200 most valuable patents, PatentVector finds. The firm also employs Jerome Morgan, who is listed in the second place with $5 billion worth of patents.

Only one other person is in the $5 billion club : Shunpei Yamazaki, president of the Semiconductor Energy Laboratory, a Japanese research-and-development firm. Mr. Yamazaki's most important patent covers the displays on computers, cameras and other semiconductor devices.

IT IS TESTAMENT to human inventiveness that 50 million patents are estimated to have been granted globally. But in aggregate much of the collection resembles an intellectual junkyard. Included are plausible ideas that no harm ever wanted to pay for, plausible ideas that fell short, and absurdities.

A patent on the crust-less peanut -butter-and-jelly sandwich, for example, failed to be renewed in 2007.

Pare the list to those that are both sensible and in force legally, meaning a fee is paid to a patent office to keep them alive, and there are 16 million patents that count, Last year, 1.6 million were granted.

Most are the property of companies, but balance-sheets and conventional accounting are ill-suited to capturing their worth. Using acquisition cost, then depreciating it, does not work. Instead, lawyers provide subjective numbers based on factors such as patent's likely validity, royalties and litigation history.

Many firms reckon it is not worth paying the tens of thousands of dollars that it costs for a valuation.

In 2008 an intellectual-property exchange opened in Chicago to do for patents, what other bourses did for stocks, bonds and commodities. Its backers were bluechip firms like Hewlett Packard and Sony, but it closed in 2015. Patents cannot be treated like commodities, said the Cornell Law review.

A subsequent effort to value them used software to read and evaluate the documents. So far, however, not even machine-learning techniques have allowed code to penetrate the legal language in which patents are couched.

NOW a startup called PatentVector, founded by a law professor, an information science professor and a software engineer, is trying something new.

It uses a variation of a method started in the 1960s which evolved into tallying up how frequently individual patents are cited [a similar process based on citations is used to evaluate academic research].

Rather than attempting to understand the patent, PatentVictor employs artificial intelligence to comb through 132 million patent documents kept by the European Patent Office in Munich [ the world's biggest collection ]. Then it evaluates, first, how frequently a patent is cited and, second, how frequently it is cited by patents that are themselves cited frequently.

That provides an indication of importance which is then multiplied by a mean value of patents based on an estimate by James Bessen, an economist at Boston University, which has become a reference point.

A number of companies, legal firms and institutions [ including the Canadian Patent Office ] are buying PatentVector's product.

PatentVector found 65 other people each responsible for patents worth in excess of $1 billion. Only 14 of the top 650 tinkerers are women.

The highest ranked is Marta Karczewicz, who works for Qualcomm, an American chip designer, and played a vital role in inventing the video-compression technology that makes Zoom and other video services function.

The Honour and Serving of the Latest Global Operational Research on Operational Policy Making at !WOW!, valuing patents and intellectual property, continues. The World Students Society thanks The Economist.

With respectful dedication to inventors all, and then Students, Professors and Teachers of the world. See Ya all prepare and register for Great Global Elections on The World Students Society - the exclusive ownership of global students : wssciw.blogspot.com and Twitter - E-!WOW! - The Ecosystem 2011 :

Good Night and God Bless

SAM Daily Times - the Voice of the Voiceless