Mainly the excess returns of intangible assets

There is no uniformly applicable method for the evaluation of corporate patent rights. The current basic methods of intangible asset evaluation are still used, namely the cost method, the market method, Income method etc. These methods are highly operable, but they cannot be simply applied, but should be applied in conjunction with the specific circumstances of the patent. The following will discuss the application of these methods in the evaluation of corporate patent rights.

1. Cost method

The cost method uses the investment in the repeated patent development process as the replacement cost, and then subtracts the loss and depreciation of the patent to determine the value of the patent. . When the cost method is used to evaluate the value of an enterprise's patent rights, the replacement cost method is generally used. The determination of replacement cost is divided into the restoration replacement cost method and the new replacement cost method based on different basis. The former is based on the original design, technical conditions, materials, production processes and circulation conditions of the asset being evaluated, and all costs required to repurchase and develop a new patented asset that is the same as the asset to be evaluated are used as the restoration replacement cost at the current market price. evaluated value. The latter is based on the current new design, technical conditions, materials, production processes and circulation conditions, and uses the current market price to repurchase and develop a new asset with the same function as the evaluated asset as the update replacement cost, from which After deducting tangible losses and intangible losses, the net replacement cost is obtained, which is used as the estimated value of the updated replacement cost of the assessed asset. The cost method has certain applicability in evaluating enterprise patent rights. It is mainly used for the amortization of patent costs that companies have used, that is, as cost amortization compensation for financial processing. It basically involves the ownership of the patent and the included technology, and the national accounting standards have clear treatment regulations. The value of corporate patent rights evaluated using the replacement cost method can also be used as a reference for the base price of patent investment. When the expected benefits of a company's patent are difficult to determine and there is no obvious evidence to prove that the principal price of the expected benefits will greatly deviate from the replacement cost, it is more appropriate to use it as a reference for the investment base price. In addition, when a patent infringement occurs, the evaluation value will also vary. The patent rights and transfer forms in the case are different, and the evaluation method determined is also different. As far as patent rights are concerned, there are generally two situations: one is a new patented technology that has just been researched and developed, and the patentee directly transfers it to the recipient before it is put into use; the other situation is that the transferred patent right has been for a long time or for a period of time. The production of time is a mature technology that is effective and continues to be used by transfer parties. There are many forms of patent rights transfer. Generally speaking, they can be divided into full rights transfer and use right transfer. The transfer of usage rights is often carried out in the form of technology licensing trade. The authority, time period, geographical boundaries or arbitration procedures for handling disputes of such usage rights are all confirmed in the license contract.

1. Rights of use

1. Exclusive right to use. It means that the seller only transfers the technology to a specific buyer within the time and geographical scope specified in the license contract, and the buyer is not allowed to sell to a second buyer. At the same time, the seller itself is not allowed to use the technology and sell the products produced by the technology within the scope stipulated in the contract. Obviously, the seller of this kind of transfer charges a higher price.

2. Exclusive right to use. It means that the buyer only grants the technology to the buyer for use within the time and geographical scope specified in the contract, while the seller retains the right to use and sell the product. No more technology transfer to third parties.

3. Ordinary right of use. It means that the buyer can transfer technology to multiple buyers within the time and geographical scope specified in the contract, while the seller retains the right to use and sell products.

4. Give back transfer rights. It refers to the seller’s right to require the buyer to provide feedback to the seller on the improvement and development of the transferred technology during use.

2. Geographical Scope

Any kind of patent is only valid within the scope of the country where it is granted or the member countries of the International Patent Union in which it participates. Beyond this scope, the patent rights Legal protection is lost. Most technology licenses stipulate a clear geographical scope, such as a certain country and region, and the buyer's right of use shall not exceed this geographical scope.

3. Time period

Patent rights obtained in accordance with the law are valid within the statutory period and are protected by law. In our country, the protection period of invention patent rights is 20 years. Utility models and designs , the patent protection period is 10 years. Technology license contracts generally stipulate a validity period, which varies depending on the technology. The licensing period of a patented technology generally corresponds to the legal protection period of the patent.

2.3 How to evaluate enterprise patent rights

Enterprise patent rights are a very important intangible asset of the enterprise and an important part of the enterprise's intellectual property rights. In business operations, it can bring greater value than tangible assets. On quite a few occasions, it is necessary to evaluate the value of a company's patent rights. By evaluating corporate patent rights, it is of great significance to promote the capitalization of corporate patented technology, promote the circulation and exchange of patented technology, and promote the utilization of patent rights by companies.

Under the conditions of market economy, enterprise patent rights are not only the results of intellectual creation, but also a non-material commodity with value and use value. However, this kind of product has its own unique features compared with ordinary tangible products. From the perspective of "value", the value of general tangible goods can be determined based on the socially necessary labor time spent, while patents are highly exploratory, non-repetitive and have certain risks. There are many factors that constitute the value of patented technology. Therefore, it is difficult to measure it using general socially necessary labor time. From the perspective of "use value", the transformation of a patent from an information state into a commodity requires a process of research and development, product sales, and market development. Once accepted by society, it will generate huge benefits. The use value of patent rights shows the characteristics of indirectness and distinction. To evaluate the value of enterprise patents, we should analyze several specific issues in the market supply and demand and price equilibrium laws of enterprise patent rights based on these characteristics, seek the value of the creative connotation of patented inventions, and establish a quantifiable calculation method. Enterprise patent technology evaluation should mainly solve two aspects of the problem.

The first is to consider which factors have an impact on the evaluation and the extent of this impact;

The second is to use what kind of Quantitative calculation method. When evaluating the value of an enterprise's patent rights, in addition to first clarifying the purpose of the evaluation, the protection period of the patent, the applicable conditions of the patent, the characteristics and basic situation of the patent, the following factors should also be analyzed and considered:

1. The degree of advancement and maturity of the patent Generally speaking, the more advanced and mature the patented technology is, the longer its service life will be, the stronger its profitability will be, and the greater the value of the patent right will be. When evaluating an enterprise's patent rights, one should understand whether the patent belongs to high-tech, sophisticated technology or general technology, as well as the difficulty and cost of applying the patent. Naturally, it is also necessary to know whether the patent is an invention patent, a utility model patent or a design patent, because invention patents are more technologically advanced than utility model patents, while design patents do not involve technical content.

2. The current legal status of the patent. Patent right is a legal right. In order to ensure the quality of patent rights and safeguard public interests, my country's patent law stipulates the invalidation procedure and stipulates a certain protection period. If a patent right has gone through the invalidation procedure and is maintained, the validity of the patent will be more reliable and its value may be higher than that of a patent evaluated under the same conditions. If the enterprise's patent rights are undergoing revocation procedures or invalidation procedures that have not yet been finalized at the time of evaluation, or the patent rights are involved in an infringement lawsuit, then the value of the patent rights that is usually evaluated will be somewhat discounted.

3. Is the patent a basic patent or a dependent patent? A dependent patent is a patent that is technically more advanced than a previous patent (basic patent), but its implementation depends on the previous patent. If it is a dependent patent, then the company's patent is subject to the basic patent, and if the evaluation price is too high, it will be very detrimental to the company.

4. Contents of the patent claims Claims are the legal documents and basis for determining the scope of patent protection. If the claims are very broad, the scope of patent protection will be relatively large, which will have a positive effect on increasing the patent evaluation value.

5. The remaining validity period and economic life of the patent. This factor is much more important than trademark evaluation. As the validity period of the patent is shortened, the value of the patent right may gradually decrease, and by the time the validity period of the patent right expires, the value of the patent right will be equal to zero. According to statistics, currently only 2% of the total number of patents in developed countries can be maintained until the expiration of the patent term, that is, the vast majority of patents are terminated early before the expiration of the patent term. It is of course meaningful to understand the remaining validity period of a patent. For example, if a patent has only one year of remaining validity, then no matter what "authoritative" evaluation method or rigorous evaluation formula is used, the value of the patent will not exceed this final period. Expected profit for one year. Patent economic life is also an important concept to consider. Patents do not have market value and profitability throughout the entire protection period. Patents have a certain economic life cycle, and patents have different values ??at different stages of the life cycle. The practice of domestic patent technology transfer shows that the patents with the most active technology market and the highest transaction rate are patents 3-5 years after patent authorization. For most invention patents, the value of the patent starts from a relatively small value, gradually increases over time, and reaches a maximum value at a certain point within 3 to 5 years of the patent right. The economic life of utility model patents and design patents is shorter. When evaluating corporate patents, you should analyze the possibility of the patent bringing economic benefits, and understand whether and when advanced alternative technologies or products appear in the same market, the possibility of competitors acquiring similar process technologies, etc. Determining the economic life cycle of patents is of great significance.

6. The expected economic benefits that the use of the patent will bring to the enterprise, including the highest and lowest profits that may be obtained, can analyze the market and industry conditions, and determine the market capacity, scope of application, and application of the commercialization of the patented technology. status, the degree of improvement of existing technology, the output of similar products, prices, industry market profits and other factors to determine the relevant patent market and the profits it brings to the enterprise.