This month, May, 2024, roughly 14,581 utility patents will expire. The following information shows the cost (legal fees) to ascertain those patents, the minimum value of those patents (R&D), and the percentage of applications awarded patents. This page also hypothesizs how many of those expiring patents will affect each industry by NAICS (North American Industry Classification System) code.
Patenting an Idea, Invention, or Process cost about $50,000 per patent at the time these patents were registered. This value is now transferred into the public domain. You are free to cite that legal work.
Although the value can be higher, enforceable patents on the open market are valued between $225,000 and $360,000. These values denote the costs to re-engineer these inventions or the value-added to processes. This amount of value will be in the public domain by the end of the month.*
Not all patent applications were granted patents. This month there were 14,581 utility patents granted out of 22,047 applications, for a success rate of 69.4%. Typically, 3% to 7% of patents issued are commercially exploited. Therefore, roughly 1,021 of the 14,581 patents issued are, or have been, in full use. The remainder of this month's expiring patents, 13,560, likely contain untapped potential.**
Statistically, each expiring patent contributes value to the associated NAICS industry as firms and entrepreneurs are able to use the formerly protected invention. Keep in mind that only 3% to 7% of patents have been commercially exploited. Therefore, 93% - 97% of the value released into the public domain is opportunity yet to be realized.**
| NAICS | Category | Affecting Patents | Industry Opportunity | |
|---|---|---|---|---|
| 1: | 334 | Computer and Electronic Product Manufacturing Category Description |
5580 | $1,192,725,000 |
| 2: | 333 | Machinery Manufacturing Category Description |
1782 | $380,902,500 |
| 3: | 325 | Chemical Manufacturing Category Description |
1102 | $235,552,500 |
| 4: | 311 | Food Manufacturing Category Description |
820 | $175,275,000 |
| 5: | 236 | Construction of Buildings Category Description |
731 | $156,251,250 |
| 6: | 339 | Miscellaneous Manufacturing Category Description |
706 | $150,907,500 |
| 7: | 335 | Electrical Equipment, Appliance, and Component Manufacturing Category Description |
619 | $132,311,250 |
| 8: | 336 | Transportation Equipment Manufacturing Category Description |
517 | $110,508,750 |
| 9: | 332 | Fabricated Metal Product Manufacturing Category Description |
389 | $83,148,750 |
| 10: | 322 | Paper Manufacturing Category Description |
362 | $77,377,500 |
| 11: | 326 | Plastics and Rubber Products Manufacturing Category Description |
341 | $72,888,750 |
| 12: | 327 | Nonmetallic Mineral Product Manufacturing Category Description |
296 | $63,270,000 |
| 13: | 337 | Furniture and Related Product Manufacturing Category Description |
222 | $47,452,500 |
| 14: | 331 | Primary Metal Manufacturing Category Description |
144 | $30,780,000 |
| 15: | 113 | Forestry and Logging Category Description |
128 | $27,360,000 |
| 16: | 312 | Beverage and Tobacco Product Manufacturing Category Description |
123 | $26,291,250 |
| 17: | 114 | Fishing, Hunting and Trapping Category Description |
108 | $23,085,000 |
| 18: | 324 | Petroleum and Coal Products Manufacturing Category Description |
94 | $20,092,500 |
| 19: | 315 | Apparel Manufacturing Category Description |
91 | $19,451,250 |
| 20: | 316 | Leather and Allied Product Manufacturing Category Description |
85 | $18,168,750 |
| 21: | 111 | Crop Production Category Description |
52 | $11,115,000 |
| 22: | 313 | Textile Mills Category Description |
43 | $9,191,250 |
| 23: | 221 | Utilities Category Description |
38 | $8,122,500 |
| 24: | 115 | Support Activities for Agriculture and Forestry Category Description |
31 | $6,626,250 |
| 25: | 213 | Support Activities for Mining Category Description |
30 | $6,412,500 |
| Table Shows 14,434 Patents Expiring out of 14,581 total this month. | $3,085,267,500 | |||
* Not all patents are enforced during their lifetime. Some of this value is already being used by more firms than the assignee of the patent.
** Methodology: (Patents per NAICS class)($225,000/patent)(95% unexploited) = Opportunity
$225,000 ≤ Legal Work, Public Legal History, R&D, and Usefulness.
"A review of available data shows that, as of 2016, the median price paid for issued U.S. patents was about U.S.$ 225,000, while the average price paid hovered around U.S.$ 360,000."
Discounting, due to obselescence, is only applicable in certain categories.