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XYZ Corporation purchased a patent on January 1, 2000 for $42,000. The purchase of the patent enabled the company to manufacture, sell, lease, or otherwise benet from an invention for 12 years (from the date of acquisition). Note: Answer each scenario independently. Scenario 1: XYZ Corp., indeed, benefitted from having purchased the patent for 12 years. 1. On January 1, 2003, what is the value of the company's patent? XYZ Corporation purchased a patent on January 1, 2000 for $42,000. The purchase of the patent enabled the company to manufacture, sell, lease, or otherwise benet from an invention for 12 years (from the date of acquisition). Note: Answer each scenario independently. Scenario 1: XYZ Corp., indeed, benefitted from having purchased the patent for 12 years. 2. On January 1, 2010, what is the value of the company's patent? XYZ Corporation purchased a patent on January 1, 2000 for $42,000. The purchase of the patent enabled the company to manufacture, sell, lease, or otherwise benet from an invention for 12 years (from the date of acquisition). Note: Answer each scenario independently. Scenario 2: XYZ Corporation had use of the patent for five years from January 1, 2000. On January 1, 2005, XYZ Corporation was sued for patent infringement A judgment was rendered fairly quickly (in less than a week's time) on the case -- in favor of XYZ Corporation. That the company has rights to benefit from the invention for the remaining ten years of the patent's legal life is upheld. While the suit had little merit, the company was required to hire a lawyer for its defense. The lawyer charged the company $8,000 for his services. The lawyer's fee is capitalized to the value of the patent. The company went on to use the patent for ten more years. 1. On January 1, 2006, what is the value of the company's patent? XYZ Corporation purchased a patent on January 1, 2000 for $42,000. The purchase of the patent enabled the company to manufacture, sell, lease, or otherwise benefit from an invention for 12 years (from the date of acquisition). Note: Answer each scenario independently. Scenario 2: XYZ Corporation had use of the patent for five years from January 1, 2000. On January 1, 2005, XYZ Corporation was sued for patent infringement. A judgment was rendered fairly quickly (in less than a week's time) on the case -- in favor of XYZ Corporation. That the company has rights to benefit from the invention for the remaining ten years of the patent's legal life is upheld. While the suit had little merit, the company was required to hire a lawyer for its defense. The lawyer charged the company $8,000 for his services. The lawyer's fee is capitalized to the value of the patent. The company went on to use the patent for ten more years. 2. On January 1, 2014, what is the value of the company's patent
