On June $30,2025,$ your client, Ferry Company, was granted two patents covering plastic cartons that it had been producing and marketing profitably for the past $3$ years. One patent covers the manufacturing process, and the other covers the related products.

Ferry executives tell you that these patents represent the most significant breakthrough in the industry in the past $30$ years. The products have been marketed under the registered trademarks Evertight, Duratainer, and Sealrite. Licenses under the patents have already been granted by your client to other manufacturers in the United States and abroad, and are producing substantial royalties.