Valuation of patent – a real options perspective

Wu, Ming‐Cheng; Tseng, Chun‐Yao

doi:10.1080/13504850500393477

Cited by 33 publications

(20 citation statements)

References 15 publications

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“…Several authors (Smith & Parr, 2000;Pitkethly, 1997;Hall, 2004;Wu & Tseng, 2006) define three basic groups of patent valuation methodology: cost-based, market-based and income-based. Universities or inventor-researchers should choose one of three approaches, each one of them will embrace several methods that will determine how patent valuation will be carried out.…”

Section: Approaches and Methods Of Patents Valuationmentioning

confidence: 99%

“…However, regardless of the researcher-inventor fieldwork and experiences, the patent valuation is one of the most difficult steps on technology transfer process (Wu & Tseng, 2006;Taheri & Geenhuizen, 2016).…”

Section: Introductionmentioning

confidence: 99%

“…Based on this approach, it is possible to user several patent valuation methods according to studies by Pitkethly (1997), Carvalho (2003), Wernke (2004), Hall (2004), Wu and Tseng (2006). However, this paper will only address the two main methods: Sunk cost and Costing.…”

Section: Cost-based Approachmentioning

confidence: 99%

“…Martin and Drews (2006) points out that in this real value, tangible and intangible assets are included and the difference between the market value and the book value is close to the sales value of this patent. In economic terms, Wu and Tseng (2006) emphasize that in this approach, the patent has two values since the cost of developing the patent becomes the minimum value of commercialization while the demand (quantity of possible buyers) determines the sale value.…”

Section: Market-based Approachmentioning

confidence: 99%

“…One of these gaps is that researchers are having troubles to define the correct value of the patent that is going to be sold to the industries (Markmann et al, 2005) because the financial gains from this commercialization must cover or preferentially generate profits on the investments made by the universities (Mattila & Lehtimaki, 2016) The problem arises because information on technology cannot be provided like goods in general and, as a result, the role of a technology valuation as a complementary measure becomes very important (Baek et al, 2007;Yu & Azevedo, 2008). Therefore, not all patents are equal and all patents have different economic impact, making careful selection and consideration of valuation procedures necessary (Wu & Tseng, 2006). Next, the main approaches and methods of patent valuation will be presented to aiming researchers, managers and other actors involved with innovation.…”

Section: Technology Transfer and Commercializationmentioning

confidence: 99%

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How Much Am I Selling It for? Approaches and Methods of Patents Valuation in Technology Transfer

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2017

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Patent has assumed a protagonism in the transformation of knowledge and technology to allow some kind of economic exploration. However, researchers have some problems to define the correct value of their patent to sell it to industries or governments. The purpose of this paper is to explore the approaches and methods of patents valuation, especially in technology transfer process between universities-industries. It was made the review and examination cost-based, market-based and income-based approaches and their corresponding methods of patents valuation: Incurred-cost, costing, comparison-based and real options. Patent valuation will be presented to researchers, managers and other actors involved with innovation with the aim of creating at the universities their own valuation model focused on a better technology transfer process within industries, and consequently generate additional profits to the university third mission.

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Section: Approaches and Methods Of Patents Valuationmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%