• Title/Summary/Keyword: Patent Value

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Weight Differences of Patent Valuation Factors by Industries (산업별 특허가치평가 요인의 차이에 대한 연구)

  • Park, Seong-Taek;Leet, Seung-Jun;Kim, Young-Ki
    • Journal of Digital Convergence
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    • v.9 no.3
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    • pp.105-116
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    • 2011
  • The innovation is an important element controlling national economic growth and the competitive power reinforcement of the company. The developed nations concentrate interest on upbringing and investment in knowledge intensive industry and advanced technology base industry for national competitive power reinforcement. I support in particular it as Korean representative industry in the case of the advanced technology base industry positively in the government. Though a patent can become the important competition predominance element of the company by such an advanced technology base industry, this and the proof study in the country to be concerned with are the facts that are not enough now. As for the article of the book, what kind of difference there is in importance by IT and BT industry distinction comment on current events value factors of the patent valuation; of the study is aimed. I derived an importance factor among factors shown in the valuation model of the patent valuation organization and an existing precedent study for comparison analysis in the study and used it. In addition, it was analysis hello it utilized AHP technique, and what kind of difference patent value evaluation important factors showed by IT and BT industry distinction. Analysis, Because patent value evaluation important factors showed a difference by industrial distinction, I appeared.

The Impact of Patent Disputes on Firms' Subsequent Innovative Activity (특허분쟁이 기업의 향후 혁신 활동에 미치는 영향)

  • Lee, Jong-seon;Kim, Nami
    • Knowledge Management Research
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    • v.21 no.1
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    • pp.1-25
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    • 2020
  • Although patents have mainly been considered as the results of the invention process, of late their value as strategic assets have increasingly been emphasized. Consequently, the competition for patents among firms has intensified, and the number of patent disputes have been steadily increasing. Patent disputes, which cause enormous expense and resource utilization, increase uncertainty and have been considered as a threat or problem for the firms involved. Patent disputes are expected to have a significant impact on the decision making about subsequent innovation activities. This study attempts to analyze the effect of patent disputes on the subsequent innovative activities of the firms that are sued. After experiencing litigation as defendants, we examine their subsequent patenting strategies. According to the results of the study, firms who are experiencing patent litigation are more likely to achieve high-quality patents and cite recent technology when they apply for patents. Meanwhile, patent litigation experience has been shown to negatively affect the amount of subsequent patents applied. This study increases understanding by examining whether patent disputes, which have been mainly recognized negatively as obstacles, can be an opportunity that comes during a crisis.

A Study on the Technology Spillover Effects on Industries by Analyzing Patents (특허분석을 이용한 기술이 산업에 미치는 경제적 파급효과에 관한 연구)

  • Jung, Ha-Gyo;Whang, Kyu-Seung
    • Journal of the military operations research society of Korea
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    • v.32 no.2
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    • pp.143-164
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    • 2006
  • This paper considers the technology spillover effects on industries by analyzing patents. Registered patents in the United States from Korea in 1990 and 1995 are compared by quantity of registrations as well as patent analysis indices, namely, cites per patent, technology cycle time and science linkage. Several regression models between these indices as predictor variables and the value added of an industry as a dependent variable were investigated. The results show that the value added of an industry positively correlates to the number of patent registrations and cites per patent.

A Study on Patent Right Valuation Using Discounted Cash Flow (DCF를 이용한 특허가치평가에 관한 연구)

  • Kim, Heung-Su
    • Journal of Digital Convergence
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    • v.10 no.7
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    • pp.11-22
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    • 2012
  • Intangible assets are the important tool which decides upon economic wealth and development of knowledge-information economy. We have to make effective use of intangible assets in order to assure surplus earnings, competitive superiority. The importance of intangible assets, especially patent right, may be properly understood only when their values are assessed adequately. It is very significant to appraise rationally patent right value from finance support, technology transaction, investment decision, M&A, legal proceedings, strategy and etc. Thus the purpose of this study is to evaluate the economic value of a patent right using DCF(Discounted-Cash Flow Method). This paper presents the basic model, related principles and standards of valuation, and then, case analysis of patent right valuation using DCF.

Corporate Patent Management and its Relationship with Creating Commercial Value

  • SUNG, Ikkyung
    • East Asian Journal of Business Economics (EAJBE)
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    • v.9 no.3
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    • pp.101-112
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    • 2021
  • Purpose - Corporate patent management refers to an organization belonging to the government or an intergovernmental organization that plays a bigger role in controlling patents. The purpose of the present study is to investigate and suggest brief solutions regarding how companies should manage their patents, maximizing their commercial values. Research design, Data, and methodology - Since the current researcher needed to optimize authenticity, the datasets were used primarily for collecting data from various sources examined by peers. This research used a claim from PRISMA (preferred reporting items for systematic reviews and meta-analysis) to identify prior studies within the limits of the sample. Result - The results revealed that corporate patent management is faced with different problems in the course of its operations. It faces many different critics from the outside world; therefore, a need to solve those problems. This study strongly suggests there are seven solutions to manage companies' patents. Conclusion - The conclusion of this study points out that The prolonged period has given some business organizations a competitive advantage over others especially that belong to industries that have a lower propensity to adopt patent rights. As a result, some business organizations have grown relatively faster than others within the long period they remain as patent rights members.

The Effects of R&D Expenses and patents on the Firm value (특허권과 연구개발비 지출이 기업가치에 미치는 영향)

  • Oh, Sang-Hui
    • Management & Information Systems Review
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    • v.36 no.3
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    • pp.239-254
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    • 2017
  • This study examines the relationship between R&D spending and patent rights, which are suggested by firms as a way to increase their firm value. Specifically, we examine the relationship between research and development costs and patent rights, and see if there are any differences in the influence of two variables on firm value. The period of this study is from 2005 to 2016, and the sample of companies used in the research including the patenting companies is composed of 333 companies in total. The results of the study are as follows. First, the cost of R&D expenditure and capitalized R&D expenditure showed a significant positive correlation with patents. Second, R&D spending did not show a significant relationship with firm value, but patent rights showed a significant positive correlation with firm value. However, firms that spend a large amount of R&D expenditure (RDD), such as research and development expenses, showed a significant positive (+) value and a patent dummy (PATD). Third, in the analysis of the difference between the dummy of research and development and the patent dummy, the enterprise value of a company that invested a lot of patents and research and development expenses was high. The contribution of this study is to examine the relevance of corporate value to R&D investment for patents. On the other hand, there are various variables that can be used as a sample of patents.

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A Patent Valuation Method Using Game Theoretic Real Option Approach (실물옵션 게임이론을 이용한 특허가치 평가 방법)

  • Kim, Jinyong;Kim, Jaehee;Kim, Sheung-Kown
    • Journal of the Korean Operations Research and Management Science Society
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    • v.40 no.2
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    • pp.43-61
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    • 2015
  • The valuation of patents is very important, since technology competitiveness is crucial for firms to maintain global competitiveness. But, the patent valuation is difficult and challenging because of the uncertainty affecting their returns. Hence, we propose a patent valuation method by incorporating game theory into the real option model, which can not only potentially recognizes the effect of uncertainty on patent value, but also consider investment decision in a competitive market, as a game between firms. With the model, we can consider dynamic strategy involving an option of patent leveraging strategies enabling the firm to switch among compete, cooperate, or wait modes under different demand or competitive advantage condition.

Quantifying the Process of Patent Right Quality Evaluation : Combined Application of AHP, Text Mining and Regression Analysis (특허권리성의 정량적 평가방법에 대한 연구 : AHP, 텍스트 마이닝, 회귀분석의 활용)

  • Yoon, Janghyeok;Song, Jaeguk;Ryu, Tae-Kyu
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.38 no.2
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    • pp.17-30
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    • 2015
  • Technology-oriented national R&D programs produce intellectual property as their final result. Patents, as typical industrial intellectual property, are therefore considered an important factor when evaluating the outcome of R&D programs. Among the main components of patent evaluation, in particular, the patent right quality is a key component constituting patent value, together with marketability and usability. Current approaches for patent right quality evaluation rely mostly on intrinsic knowledge of patent attorneys, and the recent rapid increase of national R&D patents is making expert-based evaluation costly and time-consuming. Therefore, this study defines a hierarchy of patent right quality and then proposes how to quantify the evaluation process of patent right quality by combining text mining and regression analysis. This study will contribute to understanding of the systemic view of the patent right quality evaluation, as well as be an efficient aid for evaluating patents in R&D program assessment processes.

A three-dimensional patent evaluation model that considers the factors for calculating the internal and external value of a patent: Arrhenius chemical reaction kinetics-based patent lifespan prediction (특허의 내적.외적 가치산정요인을 고려한 입체적 특허평가모델: 아레니우스 화학반응속도론 기반의 특허수명예측)

  • Choi, Yong Muk;LEE, JAEWON;Cho, Daemyeong
    • Journal of Digital Convergence
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    • v.19 no.6
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    • pp.113-132
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    • 2021
  • This study is a new evaluation using the Arrhenius equation, which is known as the chemical reaction rate estimation equation, to evaluate the intrinsic and extrinsic value elements of patents as a model. The performance of the evaluation model was superior to the SVM, Logistic reg. and ANN models that were used as patent evaluation models in prior studies. In addition, there was a strong correlation between the predicted lifespan of the patent and the actual lifespan of the patent. These evaluation models may be used for evaluation purposes only, or if an evaluation is required, including a commercialization entity or technical characteristics.

The lag analysis on the impact of patents on profitability of firms in software industry at segment level (특허가 기업의 수익성에 영향을 미치는 시차에 대한 미국 소프트웨어 세분시장 수준 분석)

  • Yi, Joon Hye;Jung, Won Kyo;Park, Sang Sung;Jang, Dong Sik
    • Journal of Korea Society of Digital Industry and Information Management
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    • v.8 no.2
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    • pp.199-211
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    • 2012
  • There have been studies to evaluate valuation of firms by using patents in various ways. Also, the theory that value of patents helps enterprise's growth is valid in economics. However, when evaluating the value of the company, through the patent evaluation has not been used. Because of previous studies researched relation between patents and firms only at certain points. To solve this problem, this study intends to analyze lag between patent and profitability of the firms. In this study, we classified top 100 software firms in the United States through PBR, PER and value of intangible assets by using cluster analysis. And we applied Almon's distributed lag model to each cluster to find out lag between patent and profitability of the firms. As a result, in the cluster of more valuable companies, patents have an effect on profitability of the firms at regular lags. This study indicates that the patents are an important indicator to assess companies.