Patent Valuation - Improving Decision Making Through Analysis

Informationen zum Autor William J. Murphy is a Professor of Law and Chair of the Commerce and Technology Law Graduate Program at the University of New Hampshire School of Law (formerly the Franklin Pierce Law Center), one of the top schools of intellectual property in the country. Murphy cofounded UNH Law's Intellectual Property Valuation Institute and currently serves as its director. He is the author of R&D Cooperation among Marketplace Competitors. Murphy earned a JD degree from Pennsylvania State University's Dickinson School of Law, and he holds master and doctorate degrees from Harvard Business School.John L. Orcutt is the Associate Dean for Faculty Research and a Professor of Law at the University of New Hampshire School of Law. Orcutt cofounded UNH Law's Intellectual Property Valuation Institute and its International Technology Transfer Institute. Orcutt is the author of Shaping China's Innovation Future: University Technology Transfer in Transition. Before coming to UNH Law, Orcutt worked as a Silicon Valley investment banker and a capital markets attorney. Orcutt earned a JD degree from the University of California, Berkeley.Paul C. Remus is a shareholder of the law firm of Devine, Millimet & Branch, P.A., in Manchester, New Hampshire. Remus concentrates his intellectual property practice in prosecuting patent applications, drafting noninfringement opinions, and licensing technology. He also mediates disputes involving intellectual property and is on the U.S. District Court Mediation Panel List. Remus also represents both companies and venture capitalists in private placements and other financing involving intellectual property. Remus earned a JD degree from the University of Michigan. Klappentext A practical resource for valuing patents that is accessible to the complete spectrum of decision makers in the patent processIn today's economy, patents tend to be the most important of the intellectual property (IP) assets. It is often the ability to create, manage, defend, and extract value from patents that can distinguish competitive success and significant wealth creation from competitive failure and economic waste. Patent Valuation enhances the utility and value of patents by providing IP managers, IP creators, attorneys, and government officials with a useable resource that allows them to use actual or implied valuations when making patent-related decisions.* Involves a combination of techniques for describing patent valuation* Includes descriptions of various topics, illustrative cases, step-by-step valuation techniques, user-friendly procedures and checklists, and examples* Serves as a useable resource that allows IP managers to use actual or implied valuations when making patent-related decisionsOne of the most fundamental premises of the book is that these valuation skills can be made accessible to each of the various decision makers in the patent process. Patent Valuation involves narrative descriptions of the various topics, illustrative cases, step-by-step valuation techniques, user-friendly procedures and checklists, and an abundance of examples to demonstrate the more complex concepts. Zusammenfassung A practical resource for valuing patents that is accessible to the complete spectrum of decision makers in the patent process In today's economy, patents tend to be the most important of the intellectual property (IP) assets. Inhaltsverzeichnis Preface ix Acknowledgments xiii Part One Foundations for Patent Valuation and Decision Making 1 Chapter 1 Valuation Basics 3 What Is Value? 5 The Valuation Process 7 Identifying the Subject Matter of the Valuation 9 Valuation Misconceptions 12 The Three Basic Valuation Methodologies 16 Limitations on Rationality in Valuation and Decision-Making Exercises 20 References 20 Notes 21 Chapter 2 Patent Basics 23

List of contents

Preface ix
 
Acknowledgments xiii
 
PART ONE Foundations for Patent Valuation and Decision Making 1
 
CHAPTER 1 Valuation Basics 3
 
What Is Value? 5
 
The Valuation Process 7
 
Identifying the Subject Matter of the Valuation 9
 
Valuation Misconceptions 12
 
The Three Basic Valuation Methodologies 16
 
Limitations on Rationality in Valuation and Decision-Making Exercises 20
 
References 20
 
Notes 21
 
CHAPTER 2 Patent Basics 23
 
What Is a Patent? 26
 
Anatomy of a Patent 32
 
Criteria for a Patent 33
 
Transferring Patent Rights 36
 
Nationality of a Patent 39
 
References 40
 
Notes 40
 
CHAPTER 3 Using Valuation Analysis to Improve Patent Decision Making 43
 
Patent Decisions 45
 
Maximizing, Optimizing, and Satisficing: How Much to Invest in Valuation Analysis 52
 
Preliminary Portfolio Valuation Audit: A Practical Valuation Technique 58
 
References 65
 
Notes 65
 
CHAPTER 4 Disassembly 67
 
Disassembly and Decision Trees 69
 
Using Disassembly to Develop Higher-Quality Data 75
 
Using Disassembly to Understand Data Better 84
 
References 86
 
Notes 87
 
PART TWO Patent Valuation Techniques 89
 
CHAPTER 5 Preparing for the Valuation 91
 
Understanding the Bundle of Legal Rights 91
 
Ownership Interest in the Patent 93
 
Description of the Patent Rights 99
 
Encumbrances on the Patent Rights 100
 
Understanding the Patent Rights' Neighborhood 102
 
Exploiting the Patent Rights 103
 
References 117
 
Notes 119
 
CHAPTER 6 Income Methods: Discounted Future Economic Benefits Analysis 121
 
Basic Arithmetic of the Discounted Future Economic Benefits Analysis 124
 
Garbage In, Garbage Out: The Challenges Lay in the Inputs, Not the Math 131
 
Projecting Future Net Economic Benefits 133
 
Developing Projections from Analytical Analyses 143
 
Estimating the Discount Rate 151
 
References 159
 
Notes 160
 
CHAPTER 7 Advanced Income Methods: Incorporating the Value of Future Decision Opportunities 161
 
Option Contracts and Their Value 164
 
Real Options 168
 
Valuing Patents Using Option-Pricing Insights 170
 
Using Decision Trees to Incorporate the Value of a Patent's Future Decision Opportunities 174
 
References 185
 
Notes 186
 
CHAPTER 8 Market Methods 189
 
Markets and Patent Rights 191
 
Competitive Exchange 198
 
Comparable Transactions 205
 
Alternatives to the Core Market Methods 207
 
References 214
 
Notes 216
 
CHAPTER 9 Cost Methods 219
 
A Few Accounting Principles 220
 
Cost of Development: Questionable Valuation Tool 224
 
Cost of Reasonable Alternatives: Establishing a
 
Maximum Price 227
 
References 230
 
Notes 231
 
PART 3 Patent Valuation in Practice 233
 
CHAPTER 10 Pricing Patent Licenses 235
 
Payment Structures 236
 
Determining the Price for a License 246
 
Less Formal Valuation Techniques for Setting Royalty Rates 248
 
References 264
 
Notes 265
 
CHAPTER 11 Patent Infringement Damages 269
 
U.S. Legal Framework for Calculating Damages in Patent Infringement Cases 271
 
Lost Profits 275
 
Reasonable Royalty 285
 
Additional Patent Damages Matters 297
 
Answering the Sue or Settle Question 299
 

Product details

• Authors: Murphy, William Murphy, William J Murphy, William J. Murphy, William J. Orcutt Murphy, Wj Murphy, MURPHY WILLIAM J ORCUTT JOHN, Murphy William J., Orcutt, John Orcutt, John L Orcutt, John L. Orcutt, John L. Remus Orcutt, Orcutt John L., Remus, Paul C Remus, Paul C. Remus, Remus Paul C.
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Hardback
• Released: 08.05.2012
• EAN: 9781118027349
• ISBN: 978-1-118-02734-9
• No. of pages: 320
• Series: Wiley Finance; Wiley Finance Editions; The Wiley Finance Series; Wiley Finance; Wiley Finance Editions
• Subjects: Social sciences, law, business > Business > Management; Patent, Business & management, Wirtschaft u. Management, Intellectual Property, Licensing, Geistiges Eigentum u. Lizenzen