Year: 2015
Type: article
Abstract: 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.
Source: 한국경영과학회지
Authors: Jinyong Kim, Jaehee Kim, Sheung-Kown Kim
Language: English
Subfield: Management of Technology and Innovation
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W2342384441