Collen, the CASE Standards delve into this area. The short version is that these gifts are best left to your Gift Acceptance Committee to decide whether or not to accept. Further, CASE suggests that you do not value them for fundraising until they generate a revenue stream.
Here is an example of language I used in the Gift Acceptance Policy I wrote for, and was recently approved by, a client:
"Gifts of patents and intellectual property (IP) are highly technical in nature, and any staff member contacted about the potential for such a gift should first contact University Advancement for guidance. If deemed potentially useful, acceptance determination will be made by the GAC. If ultimately accepted, and per CASE Guidelines, a gift of a patent or IP will be recorded with a value of $1 until an income stream is realized from the patent or IP. From that point forward, all related revenue will be recorded as a gift for the amounts received."
John H. Taylor
Principal
John H. Taylor Consulting, LLC
2604 Sevier St.
Durham, NC 27705
919.816.5903 (cell/text)
Serving the Advancement Community Since 1987