We also own numerous trademarks and service marks that contribute to the identity and recognition of our Company and its products and services globally. 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.
In addition to this intellectual property, we also rely on our proprietary knowledge and ongoing technological innovation to develop and maintain our competitive position. We have approximately 60,000 active patents and pending patent applications globally, with an average age for patents in our active patent portfolio of just over four and a half years. We have generated a large number of patents, and expect this portfolio to continue to grow as we actively pursue additional technological innovation. and international patent applications to protect technology and improvements that we consider important to the development of our business. Our policy is to protect our competitive position by, among other methods, filing U.S. We own or hold licenses to use numerous patents, copyrights, and trademarks on a global basis. For information concerning ownership of outstanding Common Stock and Class B Stock, see the Proxy Statement for Ford’s Annual Meeting of Stockholders currently scheduled to be held on May 9, 2019 (our “Proxy Statement”), which is incorporated by reference under various Items of this Report as indicated below. We do not believe, however, that any such person should be considered to be an affiliate. The shares of Common Stock and Class B Stock outstanding at June 29, 2018 included shares owned by persons who may be deemed to be “affiliates” of Ford. Although there is no quoted market for our Class B Stock, shares of Class B Stock may be converted at any time into an equal number of shares of Common Stock for the purpose of effecting the sale or other disposition of such shares of Common Stock. Based on the New York Stock Exchange Composite Transaction closing price of the Common Stock on that date ($11.07 per share), the aggregate market value of such Common Stock was $43,335,618,411. As of June 29, 2018, Ford had outstanding 3,914,690,010 shares of Common Stock and 70,852,076 shares of Class B Stock.
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