Research On The Evaluation Of Patent Value By Real Option Method Based On Binomial Tree Model

In the 21 st century,with the rapid development of global knowledge economy,intellectual property,as an important strategic resource of enterprises and even the country,has become the core force between countries,enterprises and enterprises.As an important intellectual property right,patent plays an important role in the construction of national economy,the transformation of enterprise strategy and the transformation of scientific and technological achievements.With the widening of the path to realize the value of patent rights,its role in transfer transactions,pledge financing,investment in shares,legal rights protection and other aspects is increasingly prominent.The following patent value evaluation is particularly important.Only by doing a good job of patent value evaluation,can its social and economic benefits be fully realized.At present,the income method is widely used in the evaluation of patent value,but it also has limitations,while the applicability of cost method and market method is less than that of income method.In view of this,it is necessary to make a more in-depth study on the evaluation method of patent value.Because patent has the characteristics of real option and fully considers the uncertainty of future patent investment,the real option method has a wide application prospect.This paper intends to study the patent value evaluation from the perspective of real option method and establish a binary tree value evaluation model to apply to the actual case analysis,in order to fill in some gaps in the evaluation of intangible assets in real option method in China,and to provide appropriate theoretical suggestions for the selection of patent value evaluation methods by evaluation agencies.The article is divided into six parts.First of all,starting from the research background and significance of the paper,the existing literature at home and abroad is analyzed and studied to determine the main research content,appropriate research methods and feasible technical routes;second,the theoretical support part of the paper,including the related concepts of patent rights and the theory of value evaluation,the realization path of the value of patent rights and influencing factors;and then the traditional evaluation methods are determined This paper analyzes the applicability of patent value evaluation,and draws a conclusion: the income method is applicable but limited,the cost method is next,the market method is basically not applicable;then it is the research on the real option method and the binary tree model.The paper expounds the related concepts and theoretical knowledge of the real option method and the binary tree,and focuses on the applicability of the real option method in patent value evaluation In this paper,the binary tree model of patent value evaluation is constructed and the parameters of the model are determined.Then,starting with a real case,the income method of traditional evaluation method and the real option method of binary tree model are used to evaluate the patent value respectively.The evaluation results are: the income method is 38137700 yuan,the real option method is 58335820 yuan,of which the difference is 20198120 yuan is the option value of the patent right to be appraised,and then the two appraisal methods are compared and analyzed.Finally,the paper summarizes the research content and conclusions,points out the shortcomings of this study and the future research direction.