Ford 2014 Annual Report Download - page 10
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Item 1. Business (Continued)
Intellectual Property. We own or hold licenses to use numerous patents, copyrights, and trademarks on a global
basis. Our policy is to protect our competitive position by, among other methods, filing U.S. and international patent
applications to protect technology and improvements that we consider important to the development of our business. We
have generated a large number of patents, and expect this portfolio to continue to grow as we actively pursue additional
technological innovation. We currently have approximately 30,400 active patents and pending patent applications
globally, with an average age for patents in our active patent portfolio of just under five and a half years. In addition to this
intellectual property, we also rely on our proprietary knowledge and ongoing technological innovation to develop and
maintain our competitive position. Although we believe these patents, patent applications, and know-how, in the
aggregate, are important to the conduct of our business, and we obtain licenses to use certain intellectual property owned
by others, none is individually considered material to our business. We also own numerous trademarks and service
marks that contribute to the identity and recognition of our Company and its products and services globally. Certain of
these marks are integral to the conduct of our business, a loss of any of which could have a material adverse effect on our
business.
Warranty Coverage, Field Service Actions, and Customer Satisfaction Actions. We currently provide warranties on
vehicles we sell. Warranties are offered for specific periods of time and/or mileage, and vary depending upon the type of
product and the geographic location of its sale. Pursuant to these warranties, we will repair, replace, or adjust all parts on
a vehicle that are defective in factory-supplied materials or workmanship during the specified warranty period. In addition
to the costs associated with this warranty coverage provided on our vehicles, we also incur costs as a result of field
service actions (i.e., safety recalls, emission recalls, and other product campaigns), and for customer satisfaction actions.
For additional information regarding warranty and related costs, see “Critical Accounting Estimates” in Item 7 and
Note 27 of the Notes to the Financial Statements.
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