Patents and Trademarks

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Patents and Trademarks

Note 6 – Patents and Trademarks

The Company capitalizes the initial expense related to establishing patents by country and then amortizes the expense over the life of the patent, typically 20 years. It then expenses annual filing fees to maintain the patents. The Company regularly reviews the value of its patents in the marketplace in proportion to the expense it must spend to maintain the patent.

The Company has recorded the following patent costs:

	September 30, 2021			December 31, 2020
Patents	$	95,355		$	77,722
Accumulated amortization		(73,652	)		(72,295	)
Total patent costs, net	$	21,703		$	5,427

During the three months ended September 30, 2021, and 2020, the Company recorded amortization expenses related to patents of $453 and $452, respectively.

During the nine months ended September 30, 2021, and 2020, the Company recorded amortization expenses related to patents of $1,357 and $1,355, respectively.

The increase in the trademark assets of $20,909 was the result of additional legal fees.

The trademarks have an indefinite life and therefore are not amortized. Trademarks are periodically reviewed for impairment whenever circumstances and situations change such that there is an indication that the carrying amounts may not be recoverable. The trademark assets were created in 2019, and no material adverse changes have occurred since their creation.