Research On Intellectualproperty Valuation Methodand Its Application

As human society entered the age of knowledge economy, knowledge is playing animportant role in promoting the development of society and being an powerful force tosocial economy. For enterprises, especially in high-tech enterprises, intellectualproperties have become the core competitive ability, and they are the importantprerequisite for enterprises to grow and create profits. For states, only those with thecore intellectual property can at the high-end of industrial chain. In order to promote ahealthy development of social economy, our country put forward“The NationalIntellectual Property Strategy” in2008.Intellectual properties are the most active and valuable production factors of thecurrent society, people usually deal with intellectual property transactions, transfer,pledge financing, securitization and legal compensation problem etc., intellectualproperty valuation is the most key link to solve these problems. However, intellectualproperty valuation only has a short history in China and exists many insufficient in basictheory and practice. Therefore, one effective valuation method needs to be selected.This article analyzed the current situation and application of China’s intellectualproperty, and compared the applicable conditions, specific application, advantages andlimitations of the main intellectual property value assessment methods. Analysis resultindicated that the present income discount approach is the method most commonly used,better than cost method and market comparison approach, but it has some shortcomings,such as application premise is harsh and discount rate is difficult to determine. Thisarticle presented the improved model basing on fuzzy comprehensive evaluation methodof earnings for the purpose of solving those shortcomings of income discount approach.This improved model divided the intellectual property value evaluation process into twosteps: first, adding the GM (1,1) dynamic forecast the discount rate into the incomeapproach discount formula, obtaining the initial evaluation value; second, we rectifiedthe deviation using fuzzy synthetic evaluation model, obtaining the final evaluationvalue. This improved model chose the industry average rate of return as the discountrate during the GM (1,1) dynamic forecast the discount rate, which solved someunrealized forecasting problem of the intellectual property industrialization discountrate to a large extent. In the process of fuzzy comprehensive evaluation, this articleestablished the comprehensive evaluation index system according to the factorsinfluencing intellectual property value and determined the weights and value of eachitem using expert scoring method, then conducted fuzzy matrix operations to get thecorresponding rectification coefficient so as to rectify the deviation of initial value. Finally, we obtained the assessed value of intellectual property. After the construction ofthe theoretical model, we applied the model into actual cases and reached a reasonableevaluation results.