Valuation of Intellectual Property: A Review of Approaches and Methods

Wirtz, Harald

doi:10.5539/ijbm.v7n9p40

Cited by 20 publications

(16 citation statements)

References 16 publications

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“…On the other hand, it is often considered to be potentially the best method of patent valuation. In fact, any good is worth as much as how much it is possible to exchange it for on the market, or put more formally, an equilibrium price is determined by the forces of supply and demand (Wirtz, 2012). Any other methods are only the search for the best approximations of this equilibrium price.…”

Section: Patent Valuation -Review Of Literaturementioning

confidence: 99%

Non-linear corrections in market method of patent valuation

Kopczewska¹,

Kopyt²

2014

BEH

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Intellectual property rights are increasingly becoming an important asset of enterprises, so that an innovative business must carefully decide about the method of its valuation. The existing literature indicates three classical approaches to this issue: cost-based, income-based, and market-based methods, and a few more sophisticated ones such as: the option-based and patent citation methods, with their advantages and disadvantages. This paper proposes a novel methodology of non-linear corrections in the market model of patent valuation, when factors such as time to expiration, copying risk, or momentum in patent life cycle are taken into consideration. The proposed approach, based on evidence of the non-linear impact over time of the abovementioned factors on the value of patent, is anchored primarily in marketing science as well as in the theory and practice of accounting. This fine-tuning raises the accuracy and credibility of the market method of patent valuation. JEL Classifications: G32, M4, O32, O34

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Section: Patent Valuation -Review Of Literaturementioning

confidence: 99%

Non-linear corrections in market method of patent valuation

Kopczewska¹,

Kopyt²

2014

BEH

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“…Three classical methods of quantitative valuation are predominantly used: the costbased, market-based and income-based methods (Wirtz, 2012), although the option-based approach is also used to a lesser extent (Pärs and Sander , 2015). The cost method is based on the principle that there is a link between the costs incurred during the development of an intellectual property asset and the final value of this asset, as well as the economic principles of replacement and price equilibrium.…”

Section: Quantitative Valuation Methodsmentioning

confidence: 99%

“…Quantitative and qualitative approaches are mentioned (Saaranto, 2016;Soranzo et al, 2017). Within the quantitative three basic approaches are: cost based, market based, and income based (Lagrost et al, 2010;Wirtz, 2012). Also, methods have been developed from them (Allenby, Brazell, Howell, and Rossi, 2014;Collan, Fedrizzi, and Luukka, 2013;Collan and Heikkilä, 2011;Jun, Park, and Jang, 2015;Kim et al, 2015;Kopczewska and Kopyt, 2014;Thoma, 2013).…”

Section: Introductionmentioning

confidence: 99%

Variables determining the growth of micro and small businesses

Landazuri-Aguilera

2019

JAF

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Both developed and emerging nations share a high proportion of SMEs in their economic structure. For developing countries like Mexico, this situation can represent development opportunities. In this context, the objective of this study is to statistically analyze the relationship between the variables finance, technology, competition and human resources, with the variable dependent on business growth in the micro and small companies of southern Sonora. To do this, we propose a structural model, tested through the model of structural equations with estimated panel data and a contrast of said results through a multiple linear regression model. The sample size reached was 65 companies and the information was collected through interviews. The results through structural equation models and linear regression show that there is a positive and statistically significant relationship between viable technology and competition with business growth, not being so with the variables finances and human resource, when not being significant, concluding that the variables technology and competition explain the behavior of the dependent variable (business growth). The findings are consistent with those found in other research conducted in other countries.

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“…Nesse sentido, cabe salientar que existem diversas metodologias que são utilizadas para valoração de patentes e tecnologias para fins de processo de transferência de tecnologia, dentre as quais podem-se destacar as seguintes: (i) valoração baseada na abordagem de custo; (ii) a valoração por meio de múltiplos e valor de mercado/padrões industriais; (iii) a valoração baseada no Fluxo de Caixa Descontado (FCD); (iv) a valoração a partir da Teoria das Opções Reais (TOR); (vi) regra dos 25%; (vii) Modelo alternativo com base no NPT (CABRERA; ARELLANO, 2019;FERREIRA, 2019;PAIVA;SHIKI, 2017;WANG, 2016;GUIMARÃES, 2013;WIRTZ, 2012;MURPHY;ORCUTT;REMUS, 2012;CHIESA et al, 2008;SULLIVAN, 2001;KHOURY;DANIELE;GERMERAAD, 2001).…”

Section: Propriedade Intelectual E Metodologias De Valoração De Patenteunclassified

Valoração de Propriedade Intelectual para a Negociação e Transferência da Tecnologia: O caso NIT/IFBA

Ferreira

Souza

Silvão

et al. 2020

Navus

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RESUMONesta pesquisa, buscou-se analisar os métodos de valoração de patentes discutidos pela literatura e valorar a patente de defumador de pescados (MU 8802959-0) do Núcleo de Inovação Tecnológica do Instituto Federal de Educação, Ciência e Tecnologia da Bahia -NIT/IFBA. Para tanto, os procedimentos metodológicos adotados consistiram em pesquisa exploratória, de natureza bibliográfica, documental, baseada em artigos, dissertações, teses, relatórios técnicos e sites institucionais. A abordagem empregada na pesquisa foi a de pesquisa qualitativa, com análise de dados qualitativo e quantitativo. Quanto aos dados, foram coletados dados secundários utilizados que foram obtidos a partir do documento de patente e por meio de observação direta realizada no NIT/IFBA. Como resultados observou-se que o método alternativo de valoração, que leva em consideração a característica do ativo, bem como o Nível de Prontidão Tecnológica (NPT) e variáveis econômicas, mostrou-se mais favorável para a valoração da patente de defumador de pescados do NIT/IFBA, quando comparado com as abordagens tradicionais, a exemplo do método de Fluxo de Caixa Descontado (FCD), opções reais e abordagem de custos. Ademais, o método alternativo considera, também, as particularidades e a dinâmica dos NITs, além de requerer dados que são acessíveis aos Núcleos e apresentar flexibilidade, podendo ser adaptada de acordo com as características da patente. Palavras-chave: Propriedade Intelectual. Transferência de tecnologia. ABSTRACTThe purpose of this research was to analyze patent valuation methods discussed in the literature, and to value the fish smoker patents (UM 8802959-0) of the Center for Technological Innovation of the Federal Institute of Education, Science and Technology of Bahia -NIT/IFBA. The adopted methodological procedures consisted of an exploratory research of bibliographic and documentary nature, which was based on scientific papers, dissertations, theses, technical reports and institutional websites. The approach used in this research was the qualitative research, with a qualitative and quantitative data analysis. Regarding the data, secondary data were collected from a patent document, and through direct observation performed at NIT/IFBA. As a result of this study, it was observed that the alternative valuation method, which takes into account the characteristic of the asset as well as the Technological Readiness Level (TPN) and economic variables, was the most favorable one to value the fish smoker of the NIT/IFBA when compared to traditional approaches, such as Discounted Cash Flow method (DCF), real options and cost approach. Also, the alternative valuation method was more advantageous because it took into account the particularities and dynamics of the NITs as it required data which are accessible to the Centers, and it also exhibited flexibility as it was compatible with patent characteristics.

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Valuation of Intellectual Property: A Review of Approaches and Methods

Cited by 20 publications

References 16 publications

Non-linear corrections in market method of patent valuation

Non-linear corrections in market method of patent valuation

Variables determining the growth of micro and small businesses

Valoração de Propriedade Intelectual para a Negociação e Transferência da Tecnologia: O caso NIT/IFBA

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