The Study On Valuation Methods Of Technology-Based Intellectual Property

With the thorough implementation of "National Intellectual-Property Strategy" and ever-increasing stock of technology-based IP in our country, effective operational activities of technology-based IP become more and more vigorously. Assets appraisal would play a more important role in creation, utilization, protection and management of technology-base IP. But, on the other side, there are many drawbacks in basic valuation theory, valuation methods, valuation procedures, valuation regulations, especially in technology-based intellectual property valuation. The irrational choice and utilization of valuation methods were one of prime reasons for valuation results, which were also the most urgent problems of technology-based IP valuation practice. Consequently, the theoretical research of technology-based IP valuation methods should be enhanced for the purpose of serving "National Intellectual-Property Strategy".The paper aims to build up technology-based IP valuation methods system that accord with value discipline and valuation practice of technology-based IP. The paper takes the choice and utilization of technology-based IP valuation methods as the main research contents based on value theory of technology-based IP, basic valuation theory and valuation practice of technology-based IP. The valuation choice in different valuation environment and suitability of valuation methods such as income method, cost method and market method are the main content of the paper. Based on the theory of technology-based IP value and basic theory of valuation, the paper in-depth analysises main problems of valuation practice form theory angle and puts forward improvement threads of choice and utilization of valuation methods.According to practice analysis, the effective activities of technology-based IP utilization are more and more of vigorous in our country. There is a rapid grow of technology-based IP valuation portfolio, but which is also small compared with total valuation portfolio.The application range of income method that is the main method of technology-based IP valuation is gradually expanding. At the same time, the application range of cost and market method relatively narrow.The character of valuation object and material limitation are the main reason for choice of valuation methods in practice.But choice of valuation methods is influenced by many factors such as valuation object, valuation purpose, value types, valuation hypothesis. In the same time, appraiser's professional judgement is necessary in complex valuation environment. Valuation methods choice model based on hierarchy analysis method that complaint with objective theory analysis and subjective appraiser's judgement is the effective solution for reasonable choice of valuation methods. In the application of income method in technology-based IP, there is obvious tracks of business valuation thread. According to value realization discipline, there is obviously stage and periodicity in the process of technology-based IP value realization. The paper puts forward improvement thread based on realization law of technology-based IP. Improvement thread is embodied in dynamic analysis of future earnings and risk. In the application of cost method in technology-based IP, the rationality of cost method results are always called into question by some people, which registers as there is feeble relationship between valuation results and future earnings. According to value formulation discipline of technology-based IP, there are many human's creation workings every stages of value formualtion process.Reasonable allocation of "adelomorphic" cost and right reflection the cost of human's creative work is the improvement direction for cost method. Lack of active market and comparable case is the main problems for market method in valuation practice.Some innovations were made in my dissertation as follows:Firstly, in order to enhance the rationality and scientificalness of choice of valuation methods, the paper makes up choice modle of valuation methods in technology-based IP. Secondly, the paper puts forward valuation thread of technology-based IP based on life circle theory, which analysis royalty rate and discount rate dynamicly. Thirdly, one side, the paper puts forward the concept of "common benefit cost " and allocation method based on Fuzzy Comprehensive Evaluation; the other side, the paper puts forward more reasonable methods to calculate profit rate of development and researchment of technology-based IP.