Valuation Of New Plant Varieties

New plant varieties belong to the category of intellectual property,and their types include field crops,vegetables,fruits,flowers,fruit trees and pastures.The new plant varieties in this paper mainly refer to new varieties of crops such as cotton,grain and oil.From the perspective of modern agricultural market,agricultural intellectual property has gradually become an effective driving force for the road of scientific and technological innovation in crop farming.The value of knowledge creation can only be obtained in the market with a relative return in order to form a virtuous cycle of innovation,creation and return to innovation.In order to promote the transformation of new plant variety rights in China and improve the evaluation system of variety rights,this paper proposes to use the real option method instead of the traditional evaluation method to evaluate new plant varieties.The main conclusions of this paper are as follows:(1)When the real option model is selected to evaluate new plant varieties,the binary tree method is intuitive and more flexible and close to the facts.The calculation process is easy to understand.(2)The key to the pricing of binary tree options is to determine the rise and fall factors and calculate the risk neutral probability.This paper introduces the theory of information entropy,using a relatively unbiased method based on the experience of past operators and breeders.And the existing historical data to fully determine the value of the project options.(3)The quality factors of plants,including legal,technical and economic quality,need to be fully taken into account in determining the future expected benefits of new plant varieties.The main innovations of this paper are as follows:(1)The applicability of the real option method is determined in the evaluation of new plant varieties.(2)From the perspective of investment recovery period in the process of seed commercialization,combined with the actual capital investment payback period to evaluate the financial flow effect and market effect of the technology,and then join the effective income period of the project to consider the share ratio.(3)There are different value-added and profitable identification option types in each link of the seed industry project valuechain.