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As time goes by – a lookback on the year 1962
Happy Birthday, Dennemeyer, you look pretty good for 55! I thought it would be fun to talk about what made the world go round in 1962, when Dennemeyer was founded, and how everything changed since then. I will start with some personal observations and then analyze how the IP industry and Dennemeyer evolved over the past decades.
Concerning industry changes, I have had to dig up additional facts, but as to life in 1962, I have some memories - although it is strange what I remember.
Things a kid remembers from 1962
I remember Bond, James Bond. Did you know that Sean Connery first played Bond the year Dennemeyer was founded? My mother had a cow when she found out that my dad took me to see Dr. No.
Just like today, in 1962 the world was facing a dictator with missiles. We were in the middle of the Cuban missile crisis. School children were taught to kneel under a desk for a nuclear attack. Looking back, I ask myself: what were we thinking? Kneeling under a desk would not save us.
I also remember a Volkswagen dealership opening within a mile of our house and seeing the “beetle” for the first time. The idea of buying a foreign car was an alien concept, but my father wanted that “German engineering.” So, we bought a 1962 Beetle for $1,600. It had 40 horsepower. Unfortunately, my dad did not order the optional heater, so the car was unbearable in the winter.
Major events of 1962
- Sam Walton founded Wal-Mart
- John Dennemeyer founded Dennemeyer
- John Glenn became the first American to orbit the Earth
- Beatles release their first record
- Marilyn Monroe sings happy birthday to President Kennedy
What were things like in Dennemeyer in 1962?
In 1962 Dennemeyer service fee for paying an annuity was between $10 and $80 depending on volume. Today the range is between $9 and $225. That means in the last 55 years annuity service charges have increased, for the average size customer, by approximately 35% or an average of 0.6% a year, or 1.4 fold.
My conclusion - patent annuity costs are a bargain today compared to 55 years ago. Dennemeyer has done an excellent job of driving efficiency and cost competitiveness.
Here are some numbers that help put this increase in perspective:
|
|
Cost in 1962 |
Cost in 2017 |
Increase |
|---|---|---|---|
|
Harvard tuition a year |
$1,500 |
$58,000 |
38 fold |
|
Gallon of gasoline |
27 Cents |
$3.29 |
12 fold |
|
US postage stamp |
4 Cents |
47 Cents |
12 fold |
|
Doctor’s office visit |
$ 5.00 |
$128.00 |
25 fold |
|
Movie ticket |
59 Cents |
$9.00 |
15 fold |
|
VW Beetle |
$1,600 |
$26,000 |
16 fold |
|
Dennemeyer Patent Annuity payment service fee |
$45.00 |
$62.00 |
1.4 fold |
In 1962, Dennemeyer had five employees. Today, we have over 600. That is an increase of 120 fold. Not a bad growth at all. When measured by IP transaction volume, Dennemeyer is currently the second largest IP service provider in the world.
In 1962, Dennemeyer had one office in Luxembourg. Today, we have more than 20 offices, on all continents. Along with the employee and office growth, Dennemeyer continues to grow our services – and has developed into a comprehensive IP full-service provider. The diversification of our service portfolio comprises of administrative services to IP law firm services, IP consulting, right down to IP management software.
To another 55 years
My birthday congratulations to Dennemeyer on 55 years of growth and success.
Dennemeyer's birthday celebration is not just for us but also for our clients. As part of our anniversary celebration, we are offering preferential pricing for one or more of our 40 IP services. The only condition is that the service(s) is new for you.
The above article is part of series on “55 years of Dennemeyer." Read other blog posts here:
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