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The Innovation Review is the New York State Science & Technology Law Center's monthly newsletter, bringing information on a variety of economic, business, and technology related legal news as well as highlighting and profiling resources and events across the state.

IP Law Watch

Alternate Approaches to the Valuation of Intellectual Property

The valuation and analysis of intellectual property, being only a few decades old, is still a very new process. It’s often important for entrepreneurs and companies to have an understanding of what their IP is worth and there are a variety of ways to do so. Currently, valuation analysts and IP professionals are in agreement that the cost, income, market, and relief from royalty approaches are four standard methodologies to value IP. Additionally, there are approximately twenty-five other alternative methods that can be useful in gauging the approximate worth of IP.

FDA Commissioner Margaret A. Hamburg Stepping Down

The FDA Commissioner, Margaret A. Hamburg, issued a letter stating that she has made the decision to step down at the end of March after almost six years of service. During Hamburg’s time as commissioner, the FDA made many strides in the areas of food, drug, and medical safety. Highlights in these fields have been updating the nutrition labels, applying new oversight to human drug compounding to help protect consumers, and reducing the average number of days it takes for pre-market review of new medical devices by about one third. Dr. Stephen Ostroff, who joined the agency in 2013 and most recently served as the FDA’s Chief Scientist, will step up as acting commissioner in the beginning of April.

Supreme Court Oral Arguments set for March 31st for Two IP Cases

The Supreme Court will hear oral arguments for Commil USA, LLC v. Cisco Systems, Inc. and Kimble v. Marvel Enterprises on March 31st, 2015. For more information on the cases, research associates have written short articles providing legal background on Commil USA, LLC v. Cisco Systems, Inc. and Kimble v. Marvel Enterprises.

Around New York State

Governor Cuomo Announces $1 Million in Additional Funding for 43North

On February 11, Governor Andrew M. Cuomo announced a $1 million increase in funding for 43North, the world’s largest business idea competition. Also announced was the creation of a nonprofit board to oversee 43North and a new executive director. Governor Cuomo said, “With this additional funding and a first-rate team to oversee it, 43North will continue to attract innovative companies in industries like health sciences, social media and advanced manufacturing to Western New York.” This $1 million will be added to the already existing $6 million in funding from New York State for 2015. John T. Gavigan has been named new executive director, and the nonprofit board will be comprised of Jordan Levy, Dr. Normal Jean Nowak, William Maggio, Tyra Johnson, and Allen “Pete” Grum.

SUNY Polytechnic Institute Recognized as Top University in the Nation for Business Funded Research and Development

Governor Andrew M. Cuomo announced on February 11, that SUNY Polytechnic Institute, the product of merging SUNY College of Nanoscale Science and Engineering and SUNY Institute of Technology, has recently been recognized by the National Science Foundation as the top university in the nation for business-funded research and development, exceeding around 900 other schools such as MIT, Duke, and Stanford. Other New York State universities in the top 50 for business-funded research and development include the Icahn School of Medicine at Mt. Sinai in New York City, Cornell University, SUNY Buffalo, and New York University.

Funding Opportunities

2015-2016 Technology Development Project Support from University of Buffalo Center for Advanced Biomedical and Bioengineering Technology

The University of Buffalo Center for Advanced Biomedical and Bioengineering Technology (UB CAT) has issued its annual request for proposals for projects developing products using biomedical and bioengineering technologies. The UB CAT provides project cost-share support for research and development activities involving a company and a UB researcher provided there is a clear project deliverable with potential for economic impact. Companies and researchers with potential projects can find out more about requirements and applications on the UB CAT’s website.

VentureWell BMEidea Competition Offers up to $10,000 for Collegiate Biomedical Entrepreneurs

Graduate and undergraduate students with health-related technology inventions are encouraged to apply for the national BMEidea Competition. Student teams, containing at least one engineering student, may compete to win cash awards as well as support for continued development and commercialization of their products. Applications are due by April 4, 2015.