The Walt Disney Company was recently awarded a number of issued patents for future unmanned aerial vehicle (UAV or UAS or drone) integration into its aerial shows. By patent protecting this technology and technology application, Disney may keep competitors (e.g., Universal Studios) aerial display shows "on the ground".
POSTED BY Cody Barrette AT 1:30 P.M. June 18, 2015TAGS: Entertainment | Innovation | Invention | Strategy | Cody Barrette
In our October 15th blog post Don't Forget About the "Rembrandt in the Attic"?, we discussed how a failure to think strategically about IP may have been a overlooked factor in the financial collapse of Digital Domain Media Group (DDMG). DDMG as debtor in possession has now sought court approval to sell the 3D patents along with the company’s remaining assets. The assets will be auctioned in separate groups, with the six granted 3D patents and two applications sold as one group. For any parties considering making a bid for the 3D patents, one essential question must be asked: how much are these patents worth?
The case of DDMG is not unique; IP mismanagement is pervasive throughout the media and entertainment industry. For a number of reasons, companies often fail to recognize the value of their intellectual assets, and the business continues to move forward while the IP strategy does not. When companies start to consider IP in the face of a crisis, be it bankruptcy or an infringement lawsuit, it is too late to go back and reap the benefit of their creative thinking and innovation.
By its very nature, the entertainment industry is one of great creativity. One has only to look at the ever-increasing demand for technology and effects to know that innovations are occurring in the production of movies and TV shows. And where there is innovation, invention follows, and the possibility for protection via intellectual property (IP).
Whether used simply for enhancement of brand, developed and sold as a new product, or licensed to film industry companies or studios, Hollywood inventions are being missed. These missed inventions are wasted opportunities for studios and companies involved to increase their revenue based on creative thinking - ironically, the lifeblood of the film industry.