Industrial processes22 Jul 2025 17:46
Using patents on industrial processes are very interesting. I was the auditor of Bodycote PLC many years ago - a well respected metal heat treatment company who were to a large degree dependent upon protected trade secrets.
And therein lied the rub. Patents are ideas, and granted if novel etc. They donβt have to actually work - just be novel and in theory it could work. So, they applied for patents that were close to working but not . Competitors all excited when the 20 years is up, use the now public information and are happy. But Bodycote filed the real process a few weeks later π. They are now to global go to company.
And why did they tell us? Because we had to confirm a hefty intangible asset valuation with one year to go - or not!! .
Never forgot this as being exceptional shrewd business. Are they alone?
I know Edβs going to ask - KPMG Manchester then Deloitte HK