Patent Evaluation In The Field Of Information Technology Based On Real Option Theory

With penetrating in social and economic fields, information technology has become an important factor which enhances the competitiveness of enterprise. The research on patent evaluation in the field of information technology is under the background of vigorously implementing intellectual property strategy. The objective is to effectively promote the industry of independent innovation in information technology field and to help the patent buyers and sellers have successful transaction. However, the conventional evaluation method has some limitations. They can not complete the proper patent evaluation of information technology. We can see that the successful evaluation method will have a huge impact on the industrialization such as patent transactions and patent financing. At the same time, the economic value and social benefits of patent outcomes will be fully used.This paper firstly expounds the status of information technology patent evaluation and the application of real option theory; secondly, the paper introduces the limitations of traditional patent valuation methods and proposes to use real option theory; thirdly, based on the influence factors, we establish a qualitative and quantitative index system which considers the economic benefits and impact of technology, marketing, management, law. Then we can calculate the evaluation result of expert which reflects the risk of patent; at last, we introduce the risk adjustment mechanism, combined with the binomial option pricing model, constructing patent evaluation model of information technology based on real option. The model can determine risk-adjusted discount rate and calculate risk-adjusted net present value. Coupled with the real option value, the model completes the patent evaluation in the field of information technology.This paper takes the information technology as a breakthrough and takes patent valuation as the first step, building an evaluation index system which includes the economic indicators and the profitability. In addition, the paper introduces the risk adjustment mechanism to establish patent evaluation model of information technology based on the real option theory. This paper provides a reference for the scientific evaluation method research and it provides a pricing method for the patent owner to promote the successful transaction and economic development.