Erdem Kaya'nın kaleminden 'PATENT VALUATION'
For me, managing intangible assets is similar to handling a crystal vase which is very precious but also fragile and prone to scratches and, for this reason, needs to be treated very delicately. Thus, especially in technology-oriented organizations, intangible assets including patents are likely to create more value than tangible or financial assets if they are managed in a smart and strategic manner.
So how is the value of a patent calculated?
Lets start by explaining the difference between value and price. While the price is the money you pay for a product, the value is the benefit that the product provides you over a certain period of time. For example, the annual license price of a software may be USD 1000, but this software saves 10 hours of a senior expert with an hourly cost of USD 50. According to this, the value the software provides you in 1 year is approximately USD 25.000. The higher the value/price ratio of a product or service in the market, the more commercial success achieved.
In the light this brief information, the purpose of a real valuation study is to determine the value, not the price. This issue is the same with patents. The registration cost of a patent in several countries may be USD 25.000 while the patented technology has the potential to create additional profit of USD 10 million in 10 years. Of course, the profit is achieved by contribution of all intangible and tangible assets of the company while patent protection does have a certain share in this success. Or, there might be a case where it is not possible to predict a future cash flow and even in this case, R&D studies of the patented technology might have costed millions of dollars. In both scenarios, as you will see from above examples, it is mostly not fair to value a patent with only its registration costs. 👇
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