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Purchase Price Allocation; ASC 805

EAC was awarded a Purchase Price Allocation contract by a national equipment distributor for the purpose of ASC 805-Business Combinations. We calculated a fair value of the acquired equipment, identifiable intangible assets (Trademarks, Patents, Non-Compete Agreement and Customer Relationships), and residual goodwill.

‣ Industry: Equipment
‣ Standard of Value: Fair Value

Patent Valuation

A patent is a grant of a property right by the government to the inventor to exclude others from making, using or selling the invention. As representation of differences in patent designations, the United States Patent laws provide for the granting of patents in three major categories:

Utility Patents may be granted to anyone who invents or discovers any new and useful process, machine, manufacture, or compositions of matter, or any new and useful improvement thereof. “Process” means a process or method; new industrial or technical processes may be patented. “Manufacture” refers to articles that are made. “Composition of matter” relates to chemical compositions and may include mixtures of ingredients as well as new chemical compounds.

Design Patents are granted to any person who has invented a new, original and ornamental design for an article of manufacture. The appearance of the article is protected.

Plant Patents are granted to any person who has invented or discovered and asexually reproduced any distinct and new variety of plant, including cultivated sports, mutants, hybrids, and newly found seedlings, other than a tuber-propagated plant or a plant found in an uncultivated state.