【摘要】：隨著我國科技水平的不斷提高，專利技術(shù)在國民經(jīng)濟建設(shè)中發(fā)揮著越來越重要的作用。企業(yè)雖然可以自主研發(fā)技術(shù)，然而僅僅依靠企業(yè)自身內(nèi)部的技術(shù)研發(fā)力量，已經(jīng)越來越難以滿足企業(yè)發(fā)展對技術(shù)的需求，專利權(quán)的交易應(yīng)運而生，且其涉及的領(lǐng)域和規(guī)模迅速擴大。專利權(quán)的價值評估是專利技術(shù)轉(zhuǎn)讓過程中的核心問題。合理評估專利權(quán)價值，能夠促進專利交易順利進行，從而使其充分地參與經(jīng)濟生活。 本文首先介紹了專利權(quán)價值評估的三大傳統(tǒng)方法，，并分析和比較了它們各自的優(yōu)劣之處。其次介紹了實物期權(quán)理論和實物期權(quán)定價模型，探討了用實物期權(quán)法評估專利權(quán)價值的適用性和優(yōu)勢。本文認為Black-Scholes模型相比二叉樹模型而言，更適于專利權(quán)價值評估。再次，對Black-Scholes模型在專利價值評估中的應(yīng)用進行了探討，重點對模型中的各參數(shù)進行了分析。最后，本文進行了案例分析，分別運用傳統(tǒng)的收益現(xiàn)值法和Black-Scholes模型對X公司的專利權(quán)價值進行評估。評估結(jié)果顯示后者所得的項目凈現(xiàn)值大于前者，這是因為實物期權(quán)法考慮了專利權(quán)的靈活性投資價值。本文認為傳統(tǒng)的收益法低估了專利權(quán)的價值，運用實物期權(quán)法所得出的評估值是確定最佳專利資產(chǎn)轉(zhuǎn)移價格的重要參考。同時應(yīng)將實物期權(quán)思維方式應(yīng)用到專利產(chǎn)品項目的投資和生產(chǎn)決策中。
[Abstract]:With the development of science and technology, patent technology plays a more and more important role in the construction of national economy. Although enterprises can independently research and develop technology, it is more and more difficult for enterprises to meet the demand for technology development only by relying on their own internal technological research and development forces. The patent trade has emerged as the times require. And its area and the scale of the rapid expansion. The value evaluation of patent right is the core problem in the process of patent technology transfer. Reasonable evaluation of patent value can promote the smooth progress of patent transaction and make it participate fully in economic life. In this paper, three traditional methods of patent value evaluation are introduced, and their advantages and disadvantages are analyzed and compared. Secondly, it introduces the real option theory and the real option pricing model, and discusses the applicability and advantage of the real option method to evaluate the patent value. This paper argues that Black-Scholes model is more suitable for patent value evaluation than binary tree model. Thirdly, the application of Black-Scholes model in patent value evaluation is discussed, and the parameters of the model are analyzed. Finally, this paper carries on the case analysis, respectively uses the traditional income present value method and the Black-Scholes model carries on the appraisal to the X company patent right value. The results show that the net present value of the latter is greater than that of the former, because the real options method takes into account the flexible investment value of the patent. This paper holds that the traditional income method underestimates the value of patent right, and the evaluation value obtained by using real option method is an important reference for determining the best transfer price of patent assets. At the same time, the thinking mode of real option should be applied to the investment and production decision of patent product project.
【學(xué)位授予單位】：暨南大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F224;F204

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