Development of the combined approach to the valuation of intellectual property objects

Abstract

The object of this research is a combined approach to the valuation of intellectual property. The paper compares the traditional approaches to valuation: profitable, market and cost, and identified the shortcomings of each. During the work the methods of analysis and synthesis of scientific literature were used to highlight the disadvantages and advantages of traditional approaches, statistical and comparative methods for estimating the value of patents in one industry. Mathematical modeling was also used to develop the formula of the combined approach. Researchers raised the issue of determining the pricing factors that are taken into account when determining the calculation parameters and dependent coefficients of adjustment of the value of intellectual property. Researchers presented methodological recommendations for calculating the integrated coefficient of influence of qualitative and quantitative factors, taking into account the type of object and the features of standardized approaches to evaluation. As a result of the analysis of approaches the improvement of the combined approach for definition of cost of object of intellectual property is offered. The development takes into account the purpose of the assessment and the availability of complete, reliable and objective information, as well as the affiliation of the intellectual property to a particular industry and the impact of technological development of this industry. On the basis of the proposed coefficients of adjustment of the value of intellectual property objects, the value of industrial property according to the patent of Ukraine UA85101 and some inventions of the power engineering industry of enterprises of Kharkiv region (Ukraine) was calculated. The best result for the patent owner of JSC «Ukrainian Energy Machines» are the calculations obtained on the basis of the combined approach, taking into account the traditional profit approach and the integrated coefficient. According to the studied model, the value of industrial property UA85101 is 26930 USD. These calculations assume the best economic effect of using the rights to this patent in the company, or obtaining income from the sale of a license for this patent using a lump sum or royalty. The practical applicability of the study allows industrial enterprises to assess the possibility of improving the efficiency of intellectual property management, which provides maximum benefit from the commercialization of innovations.

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