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Patents and Other Intangible Assets

3 Months Ended

Mar. 31, 2023

Note 4 – Patents and Other Intangible Assets

Patents and other intangible assets are summarized as follows:


	March 31,		December 31,
(in thousands)	2023		2022
Patents
Patents pending	$	330	$	307
Issued patents		815		815
		1,145		1,122
Trademarks
Trademarks pending		7		6
Registered trademarks		95		95
		102		101
Other		8		8
		1,255		1,231
Accumulated amortization		(473)		(433)
	$	782	$	798

Future amortization expense associated with issued patents and registered trademarks as of March 31, 2023 is as follows:


(in thousands)
2023	$	108
2024		126
2025		96
2026		61
2027		39
Thereafter		7
	$	437

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 three months ended March 31, 2023 and 2022, 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 as an expense.