Minimum Qualitative Variables to Value Patents by Technology-Based Firms

Authors

  • Sergio Gómez Faculty of Arts and Humanities, Metropolitan Institute of Technology (ITM), Medellín
  • Eliana Villa Administrative Sciences Department, Metropolitan Institute of Technology (ITM), Medellín
  • Claudia Nelcy Jiménez-Hernández Universidad Nacional de Colombia - Sede Bogotá - Facultad de Ciencias Agrarias, Bogotá

DOI:

https://doi.org/10.4067/S0718-27242019000200021

Keywords:

minimum qualitative variables, technology valuation, patent valuation, intangible assets, technology-based firms.

Abstract

Since the 1990’s, intangible assets such as patents have taken on importance in organizations and, as a result, several stakeholders are increasingly concerned about protecting, valuating, commercializing and negotiating technologies developed by patenting processes. This study aims to establish Minimum Qualitative Variables (MQVs) to support the valuation of patents by technology-based firms. The method to determine the MQVs was qualitative and based on a correlation matrix between MQVs identified in the literature and those suggested by experts. The results indicate that identifying such variables, especially the legal kind, is crucial to the valuation process because they suggest the possibility of producing and commercializing the technology in a given geographical context.

Downloads

Download data is not yet available.

References

Andersen, A. (1992). The Valuation of Intangible Assets: Special Report No. Business International Limited.

Anduray, J. de D. B., & Pedroza, M. E. (2018). INDICADORES DE CIENCIA Y TECNOLOGÍA EN PROCESOS DE INVESTIGACIÓN, INNOVACIÓN Y EMPRENDIMIENTO DE LA UNAN-MANAGUA. Revista Multi-Ensayos, 3(6), 67–85. Retrieved from http://revistasnicaragua.net.ni/index.php/multiensayos/article/view/3918

Angelo, R., Domenico, C., Luigi, I., & Iacobelli, M. (2008). Technology Valuation for Biotechnology: techniques for valuation of Intellectual Property. In IBIC Conference. Italia.

Chaplinsky, S., & Payne, G. (2004). Methods of Intellectual Property Valuation.

Correa, J. A., Arango, M. D., & Castaño, C. E. (2011). Metodologías de valoración de activos tecnológicos. Una revisión. Pensamiento & Gestión, (31), 83–108.

Duarte Ortiz, G., & Navarro Vargas, J. R. (2014). Sobre las universidades de primera, segunda y tercera generación. Rev Fac Med, 62(3), 471–475.

Edvinsson, L., & Sullivan, P. (1996). Developing a model for managing intellectual capital. European Management Journal, 14(4), 356–364. https://doi.org/10.1016/0263-2373(96)00022-9

Eichner, T., Gemünden, H. G., & Kautzsch, T. (2007). What is Technology Worth? The Journal of Investing, 16(3), 96–103. https://doi.org/10.3905/joi.2007.694770

Elói, D. T., & Santiago, L. P. (2008). Avaliar X valorar novas tecnologias: desmistificando conceitos.

European Patent Office. (2010). IPscore 2.2.

Galasso, A., & Schankerman, M. (2018). Patent rights, innovation, and firm exit. The RAND Journal of Economics, 49(1), 64–86. https://doi.org/10.1111/1756-2171.12219

Garcia Merino, D., Rodríguez Castellanos, A., Vallejo Alonso, B., & Arregui Ayastuy, G. (2008). La importancia y valoración de los intangibles: La percepción de los directivos. Estudios de Economía Aplicada, 26 (3)(1133–3197), 27–55.

Gu, F., & Lev, B. (2011). Intangible Assets : measurement, drivers, and usefulness. Managing Knowledge Assets and Business Value Creation in Organizations: Measures and Dynamics, 110–124.

Hall, B. H., Jaffe, A. B., & Trajtenberg, M. (2001). The NBER Patent Citations Data File: Lessons, Insights and Methodological Tools. NBER Working Paper #8498, 1–74. https://doi.org/10.1186/1471-2164-12-148

Hall, R. (1992). The Strategic Analysis of Intangible Resources. Strategic Management Journal, 13(March 1991), 135–144. https://doi.org/10.2307/2486410

Hastbacka, M. (2004). Technology Valuation The market comparable methods. Technology Management Journal, 1.

Hunt, F. H., Probert, D. R., Wong, J. C., & Phaal, R. (2003). Valuation of technology: exploring a practical hybrid model. In PICMET ’03: Portland International Conference on Management of Engineering and Technology Technology Management for Reshaping the World, 2003. (pp. 47–53). Portland State Univ. https://doi.org/10.1109/PICMET.2003.1222778

Hunt, F. H., Thorn, V., Mitchell, R., Probert, D. R., & Phaal, R. (2007). Management of converging technologies. In PICMET 2007: Portland International Conference on Management of Engineering and Technology (pp. 1736–1742). Portland State Univ.

ip4inno. (2008). Valuation of Intellectual Property.

Jiménez, C. N., & Castellanos, O. F. (2011). Enfoque multidimensional y dinámico de la valoración tecnológica. In Sexto congreso internacional de la Red de Investigación y Docencia sobre Innovación Tecnológica RIDIT. Manizales, Colombia.

Jiménez, C. N., & Castellanos, O. F. (2013). El valor de la tecnología: Enfoques novedosos para su determinación. Journal of Technology Management and Innovation, 8(SPL.ISS.2), 92–103.

Jiménez, C. N., & Castellanos, O. F. (2014). Consideraciones sobre la valoración tecnológica en la base de la pirámide. Revista Facultad de Ciencias Económicas: Investigación Y Reflexión, XXII(2), 63–77.

King, K. (2003). El valor de la propiedad intelectual, los activos intangibles y la reputación.

Lai, Y.-H., & Che, H.-C. (2009). Modeling patent legal value by Extension Neural Network. Expert Systems with Applications, 36(7), 10520–10528. https://doi.org/10.1016/j.eswa.2009.01.027

Leadbeater, C. (1999). New measures for the new economy. In In International Symposium on Measuring and Reporting Intellectual Capital: Experience, Issues, and Prospects.

Lee, C., Kwon, O., Kim, M., & Kwon, D. (2018). Early identification of emerging technologies: A machine learning approach using multiple patent indicators. Technological Forecasting and Social Change, 127, 291–303. https://doi.org/10.1016/J.TECHFORE.2017.10.002

LES. (2008). Technology valuation and License negotiation course.

Lev, B. (2000). Intangibles: Management, Measurement, and Reporting. Brookings Institution Press.

Levitt, T., & Pauling, L. (2018). Innovar o no innovar, ¿he ahí el dilema? Revista Digital Universitaria, 19(1). Retrieved from http://www.revista.unam.mx/wp-content/uploads/v19_n1_a0_Editorial-1.pdf

Li, Y., & Chen, Y. (2006). Managing Technology: The Technology Valuation Approach. In 2006 Technology Management for the Global Future - PICMET 2006 Conference (pp. 535–540). IEEE. https://doi.org/10.1109/PICMET.2006.296652

Mai, T. (2015). Technology Readiness Level.

Mard, M. J. (2000). Financial Factors: Income Approach to Valuing Intellectual Property. Licensing Journal, 20(8), 25.

Martínez, P. C. (2006). El método de estudio de caso. Estrategia metodológica de la investigación científica. Pensamiento Y Gestión: Revista de La División de Ciencias Administrativas de La Universidad Del Norte., 20, 165–193.

Maxwell, J. A. (2008). Designing a Qualitative Study. In L. Bickman & D. J. Rog (Eds.), The Sage handbook of applied social research methods (Edition 2, pp. 214–253).

Nielsen, P.-E. (2004). Evaluating patent portfolios––a Danish initiative. World Patent Information, 26(2), 143–148. https://doi.org/10.1016/j.wpi.2003.09.004

Okuda Benavides, M., & Gómez-Restrepo, C. (2005). Metodología de investigación y lectura crítica de estudios: Métodos en investigación cualitativa: triangulación. Revista Colombiana de Psiquiatría, XXXIV(1), 118–124.

OMPI. (2006). Aprender del pasado para crear el futuro: invenciones y patentes.

OMPI. (2016). Datos y cifras de la OMPI sobre P.I. 2016.

Park, Y., & Park, G. (2004). A new method for technology valuation in monetary value: procedure and application. Technovation, 24(5), 387–394. https://doi.org/10.1016/S0166-4972(02)00099-8

Patton, M. Q. (2001). Qualitative research & evaluation methods. Qualitative Research and Evaluation Methods.

Pavri, Z. (1999). Valuation of intellectual property assets: the foundation for risk management and financing. In Proceedings of Insight Conference (pp. 79–91). Toronto.

Pitkethly, R. (1997). The Valuation of patents: A review of patent valuation methods with consideration of option based methods and the potential for further research.

Plata López, L. C. (2005). Valoración de activos intangibles, la nueva riqueza de las empresas. Universidad Del Norte, 140–155.

PricewaterhouseCoopers. (2007). Staying in control while unlocking the knowledge.

Schuh, G., Schubert, J., & Wellensiek, M. (2012). Model for the Valuation of a Technology Established in a Manufacturing System. Procedia CIRP, 3, 602–607. https://doi.org/10.1016/j.procir.2012.07.103

Shehabuddeen, N., Probert, D., & Phaal, R. (2006). From theory to practice: challenges in operationalising a technology selection framework. Technovation, 26(3), 324–335. https://doi.org/10.1016/j.technovation.2004.10.017

SIC. (2008). Solicitudes en Otros Países a Través del Tratado de Cooperación en Materia de Patentes (PCT). Bogota-Colombia.

Snow, C. C., & Thomas, J. B. (1994). FIELD RESEARCH METHODS IN STRATEGIC MANAGEMENT: CONTRIBUTIONS TO THEORY BUILDING AND TESTING. Journal of Management Studies, 31(4), 457–480. https://doi.org/10.1111/j.1467-6486.1994.tb00626.x

Stake, R. E. (2007). Investigaciòn con estudio de casos (4ta. edici). Morata.

Tamayo, M., & Tamayo. (1999). Módulo 2: La investigación.

Teece, D. J. (1998). Capturing value from knowledge assets: The new economy, markets for know-how, and intangible assets. California Management Review, 40(3), 55–80.

Thorn, V., Hunt, F., Mitchell, R., Probert, D., & Phaal, R. (2011). Internal technology valuation: real world issues. International Journal of Technology Management, 53(2/3/4), 149. https://doi.org/10.1504/IJTM.2011.038588

Vélez, I. (2013). Métodos de valoración de intangibles. Cuadernos Latinoamericanos de Administración, IX(17), 29–47.

Wang, J. (2018). Innovation and government intervention: A comparison of Singapore and Hong Kong. Research Policy, 47(2), 399–412. https://doi.org/10.1016/J.RESPOL.2017.12.008

WIPO. (2018). What is a patent? Retrieved February 24, 2018, from http://www.wipo.int/patents/en/faq_patents.html

Downloads

Published

2019-07-29

How to Cite

Gómez, S., Villa, E., & Jiménez-Hernández, C. N. (2019). Minimum Qualitative Variables to Value Patents by Technology-Based Firms. Journal of Technology Management & Innovation, 14(2), 21–32. https://doi.org/10.4067/S0718-27242019000200021

Issue

Section

Research Articles