Valuation of Patents - UNECE

Valuation of Patents

Dr. R.Pitkethly

The Nature of Patent Valuation

Valuation of Patents

The Economist's View

The Economist 1851 July 26th

"Patents are like lotteries, in which there are a few prizes and a great many blanks."

Uncertainty about the value of Patents is nothing new..

Valuation of Patents

Patent Value Distributions from Interview Data

1000

Pareto Plot of US Patent Values (N= (Scherer 1997)

No. of patents with that value or more

100

The top 8.5% of patents

comprised c80% of total value

10

0.01

0.1

1

10

100

Patent Value ($m

1000

Harhoff, D., F. M. Scherer, et al. (1997). Exploring the Tail of Patented Invention Value Distributions, Wissenschaftzentrum fur Sozialforschung Berlin.

Patent Values are highly skewed distributions

Little worth Lots, Lots worth little

Valuation of Patents

Patent Valuation presents a dilemma

? To be patentable an invention must be unique

? "absolute novelty" is a requirement of most patent systems

But for many methods of patent valuation

? To be valuable an invention must resemble others of known value

? when correlating patent specification characteristics with value ? when searching for suitable spanning assets for option valuation

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