The Evaluation And Risk Of The Patent Right’s Opportunity Return-based On The Option Theory

The patent right is different from general assets, it has some intrinsic properties:ex-clusive, timeliness and regional inherent etc. With the rapid development of the econ-omy, the patent right’s trade market become more and more active, we need to provide more fair and reasonable value to traders, and offer some more powerful theoretical guidance to the investors. So the study about the patent right needs to be strengthen.This article obtain a value assessment method of patent right, which derivatives form the estimate model of Derivative Securities. And then we introduce the concept of opportunity return (the value of patent product minus the value of the patent right), analysis the value and risk of the opportunity return quantitatively. Then we could provide the basis for the enterprises whether to enforce the patent right and when to get the best benefit. Finally studying how the ratio between the discount of investment and the discount of the product d impact the opportunity return, we know when d<1and the life of the patent right is long, the enterprises give up enforce at once in order of the more profit, but the risk is large. It denies that enforcing the patent right before the investment at once is the best time.