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Patents and Other Intangible Assets

6 Months Ended

Jun. 30, 2022

Note 4 – Patents and Other Intangible Assets

Patents and other intangible assets are summarized as follows:


	June 30,		December 31,
(in thousands)	2022		2021
Patents
Patents pending	$	509	$	439
Issued patents		577		577
		1,086		1,016
Trademarks
Trademarks pending		3		3
Registered trademarks		96		94
		99		97
Other		8		8
		1,193		1,121
Accumulated amortization		(381)		(322)
	$	812	$	799

Future amortization expense associated with issued patents and registered trademarks as of June 30, 2022 is as follows:


(in thousands)
2022 (remaining 6 months)	$	59
2023		96
2024		74
2025		42
2026		9
Thereafter		12
	$	292

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

During the six months ended June 30, 2022 and 2021, 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 pursue intellectual property protection.

If the Company identifies certain assets where the intellectual property does not directly align with its core technology, the Company will impair the intangible asset and write-off the asset to research and development expense.