Application Of Real Option Theory In Trademark Valuation Access

Trademark valuation has just started in our country in recent years, with the developmentof market economy, the number of trademark assessed valuation of the business is increasing.On the one hand reflects the company’s emphasis on the value of the trademark, it alsorequires an assessment of staff continue to study the theory and methods trademark valuation.For trademark of assessment, the country is more of an assessment using the income approach,because the cost is generally not truly reflect the intrinsic value of the trademark, the marketapproach issues such as the existence of data collection difficulties in practice. However, inview of the discount rate as the income approach one of the important parameters have greatersubjectivity, in order to explore other better assessment methods, the text features with realoptions around the trademark and therefore can be evaluated using real option pricing Expanddiscussed.The first part is an introduction, describes the innovations and lack of background andmotivation and writing of this article, innovation is generally used for option pricing will bethe kind of investment decision in the BS model is used to evaluate the improved value of thetrademark inadequacies that although times more accurate method can measure the value ofthe trademark, but the only option that is considered a call option, the option does notconsider the delay tightening options, the option to abandon the case, can not be calculatedbetween multiple options interactions affect the value of the trademark, but can notunderstand the decision to provide enterprises directly.The second part of the article describes the theory and real options trademark ofdeparture, discusses in detail the concept and role of trademarks and trademark rights,trademark rights to further illustrate the value of the cost can be divided into the value andbenefits of value. For real option pricing method will be applied to assess the value of thetrademark, the author introduced the concept of the concept of real options options, combinedwith real options trademark characteristics will be divided into delay options, expansionoptions, tightening options, give up the option. The third part of the article discusses the value of the trademark three types of traditionalmethods and assessment Serve this Act, the market approach, income approach and thesethree methods in practice their own advantages and disadvantages.The fourth article first discusses the feasibility of applying real options valuation anddifficulties trademark, discusses in detail the kind of option pricing that "the principle of noarbitrage equilibrium" in the real option pricing model BS model combines the trademark theintroduction of new features to improve the model parameters and construct trademark of BSpricing model.Finally, in order to prove a real option model can indeed be used to assess and evaluatethe results of the trademark value even more satisfying than the traditional income approach,the introduction of actual cases and are using the income method and the real options modelto assess the value of the trademark. The end result is little difference between the two, butthe results of the assessment is higher than the real options model to assess the results of theincome approach.Real option valuation model in the trademark, traditional assessment methods provide anew assessment ideas, help enrich our trademark valuation theory, but real options model inthe use of assessment methods is also worth a lot of details continue to explore, making thereal option model can be widely used in practice, too, can provide better service to carry outassessment work...