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Patents and Other Intangible Assets

12 Months Ended

Dec. 31, 2021

Note 4 – Patents and Other Intangible Assets

Patents and other intangible assets are summarized as follows:


	December 31,
(in thousands)	2021		2020

Patents
Patents pending	$	439	$	731
Issued patents		577		883
		1,016		1,614
Trademarks
Trademarks pending		3		105
Registered trademarks		94		23
		97		128
Other		8		8
		1,121		1,750
Accumulated amortization		(322)		(448)
	$	799	$	1,302

Future amortization expense associated with awarded patents and registered trademarks as of December 31, 2021 is as follows:


(in thousands)
2022	$	117
2023		96
2024		74
2025		42
2026		9
Thereafter		11
	$	349

The amortization life for patents ranges between three to five years, with trademark lives remaining consistent at ten years. The Company does not amortize patents or trademarks classified as pending.

During the year ended December 31, 2021, and 2020, the Company assessed its patent and trademark assets. The Company also evaluated its strategic approach to the pursuit and protection of its intellectual property. It is the intent of the Company to continue to define the scope of pursuing intellectual property protection to be more aligned with core technology critical to the design of product offerings.

The Company identified certain assets where the intellectual property was not directly related to the core technology within current products or was loosely affiliated with the core technology. Based on the results of the assessment, the Company impaired $385 thousand of assets previously classified as pending patent costs and $36 thousand of assets previously classified as pending trademark costs. This non-cash expense is reflected in the current year operating results as Research and Development and General and Administrative expenses, respectively. For certain issued patents where the protected intellectual property was not directly aligned with current products, the Company accelerated the amortization by $50 thousand to reduce the financial net carrying value of capitalized patent costs and an additional $40 thousand in accelerated amortization to align trademark net capitalized costs with trademark registration dates.