| The significant event of China's entry into World Trade Organization in November 2001 brought to China marvelous opportunities, and challenges as well in this 21st century. During the long and tough WTO negotiation between China and US, Intellectual Property Right (IPR) has become a hot issue and attracted more and more attention of the people. A lot of articles from the legal or trading point of view concerning IPR appeared in the research field. Actually, few articles touch the issues of IPR valuation and the realization of its value. Therefore, my choice of this thesis will possibly meet with challenges.This dissertation consists of four chapters. Chapter one starts from the theory of Knowledge Economy and makes concise statement of the main theories concerning knowledge and innovation. In the beginning of the last century, an important economist contributed greatly his emotion and effort to the research of intangible assets and established the Innovation Theory in 1912.This economist was Joseph Schumpeter, whose "Innovation Theory" explained the basic characteristics of capitalism and the economic development process. He emphasized the influence of innovation in technology uniquely, which caused people 's attention universally and also consisted the main scheme of "Schumpeter Theory" in the western economic field. Subsequently, Schumpeter's Innovation Theory was further improved.Knowledge is excluded from the research scopes of orthodox economics until now. Traditional labor value law and the doctrine of surplus value need new annotations in the knowledge filed. The intellectual property protection mechanics and the value realization of scientific efforts mainly operate through priority mechanics. The efficiency which resources distribute through market mechanics is optimal, either in the ex ante, interim or ex post. There are new rules for the output of knowledge and its value allocation structure. With modern Intellectual mechanics, only the IPR acquired by the first inventor of the most advanced technology was admitted in the society. In addition, there are theoretical explanations for the knowledge growth path. The a.m. theories paved the way to IPR mechanics.Chapter II explains the concept of IPR. Intellectual Property Right refers to the creation of the brains and wisdom of human beings. It is entitled with certain rights by law. Intellectual property rights are characterized with intangibility, specificity, regionality, topicality andduplicatability. Intellectual property rights are also monopolistic and excess-profitable. It is closely related to the innovative motivation of human beings. Were there no intellectual property rights in the world trade, mankind would have lost the motivation for innovation and the world would have not been developed. Knowledge economy calls for the execution and strengthening of intellectual property mechanics, which is an inevitable outcome of the market economy and it will not be transformed by the will of mankind. Knowledge economy and IPR have undoubtedly a natural, intern and essential connection.Economists hold the opinion that "As a realm in economy, asset is a collection of all materials productive or non-productive, tangible or intangible that can bring benefits to the owner/s." IPR, as an intangible asset, shall access to the commercialization process to realize its value. In this process, valuation and pricing of IPR, and finally the realization of its value are all critical sectors. Valuation of IPR is connected with value realization, licensing, and compensation for infringement of rights. Valuation and analysis of IPR was developed from the valuation theories of intangible assets in economics. It reflects the concepts and theory of valuation of intangible assets and quantification process. It is the specific application of microeconomics. Valuation of IPR is adopted for the following purposes: 1) Valuation for restructuring, acquisition and mergers in an enterprise.2) Direct transfer and purchase of IPR.3) When IPR is mortgaged to obtain...
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