Valuation and Dealmaking of Technology-Based Intellectual Property
Principles, Methods and Tools
(Sprache: Englisch)
A complete guide to technology risk management, valuation, and pricing, providing readers with backgrounds in the core concepts, sources of value, methods of valuation, equity realizations, and negotiation strategies. Based on the author s real world...
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A complete guide to technology risk management, valuation, and pricing, providing readers with backgrounds in the core concepts, sources of value, methods of valuation, equity realizations, and negotiation strategies. Based on the author s real world experiences, the second edition has been greatly revised and expanded.
Klappentext zu „Valuation and Dealmaking of Technology-Based Intellectual Property “
This indispensable tool provides readers with complete coverage of the issues, methods, and art of valuing and pricing of early-stage technologies including backgrounds in the core concepts, sources of value, methods of valuation, equity realizations, and negotiation strategies.
This indispensable tool provides readers with complete coverage of the issues, methods, and art of valuing and pricing of early-stage technologies including backgrounds in the core concepts, sources of value, methods of valuation, equity realizations, and negotiation strategies.
Inhaltsverzeichnis zu „Valuation and Dealmaking of Technology-Based Intellectual Property “
PrefaceDisclaimer
Acknowledgments
Chapter 1: Introduction to OpportunityDiscovery, Valuation, and Dealmaking (D-V-D)
Introduction: Licensing D-V-D
Taxonomy of Technology Licensing
High Significance, High Ambiguity Contexts
Licensing D-V-D and Innovation
Going Forward
Notes
Chapter 2: Risk and Reward
Uncertainty
Phronesis (Judgment)
Technology Uncertainty
More on Risk
Value and Price
Two Final Points on buying and selling
Notes
Approach 1: Opportunity Discovery
Chapter 3: Identifying and Prioritizing Technology Opportunities
Seller "Opportunity Space"
The Technology Box
Buy-Side Expressions of Value: The Wheelbarrow
Overview of Valuation Methods
The Six Valuation Methods
Conclusion
Notes
Approach 2: Valuation
Chapter 4: Method One: Use of Industry Standards for Valuation
The Concept and Limitations of "Industry Standards"
Sources of Industry Standard Data and Information
Survey Results as a Source of Industry Standards Data and Information
Proposed or Established Norms
Shopped Term Sheets and Price Lists
News Sources of License Agreement Information
Journals, Proprietary Databases, Reports, and Consultants
Published License Agreements as a Source of Industry Standards
Court Cases/Judgments as a Source of Industry Standards
Patent Pools
Lifetime and Organizational Learning
Average Error51
Concluding Observations and Cautionary Notes
Notes
Appendix 4A: Outline of Agreement Between DuPont and University of Houston (UH)
Chapter 5: Method Two: The Rating/Ranking Method, and Tool
Ubiquity of Rating/Ranking
Overview of How Rating/Ranking Can Be Used in Valuation
Groups and Grouping as a Fundamental Knowledge-Forming Process
Using Rating/Ranking to Value Technology: Factor Assessment
Developing Criteria for Using Rating/Ranking for Valuation of Technologies
Illustrations of Applying the Rating/Ranking Method
Issues in Interpreting Value from a Rating/Ranking Result
Using Rating/Ranking to Value Technology: Classified
... mehr
Value
Uses of Rating/Ranking with Approaches and as a General Tool
Perspectives on Rating/Ranking as an Approach with Licensing D-V-D
Knowledge, Uncertainty, and Humility
Conclusion
Appendix 5A: Factors in Pricing License (A checklist of 100 important considerations in setting value of technology license)
Notes
Bibliography
Chapter 6: Method Three: Rules of Thumb to Determine Valuation
Foundations of Rules of Thumb
Cost Savings Example of the 25 Percent Rule
Perspectives on the 25 Percent Rule
Use of the 25 Percent Rule for Apportioning New Profits
Examples of Applying the 25 Percent Rule to New Profits Licensing
A Universal Rule of Thumb Chart
Other Percent Rule Values
Some Misuses / Misapplications of the 25 Percent Rule
Other Valuation Rules of Thumb Used (or Have Been Proposed)
Summary Points on the Use of the 25 Percent Rule
Conclusion
Notes
Chapter 7: Method Four: Discounted Cash Flow Method to Determine Valuation
Overview of the DCF Method
Basic Financial Concepts
Quantification, Classification of Risk (RAHR)
An Example Cash Flow Projection from a License
Additional Considerations for Calculating DCF
Segment and Scenario Analysis
Cash Flow Projections
Other Issues to Be Considered with the DCF Method
Conclusion
Sources of Information to Develop Business Projections
Notes
Chapter 8: Method Five: Advanced Valuation Methods
Monte Carlo and Real Options
Modified DCF Method
Monte Carlo Method
Real Option Methods
Conclusion
Appendix 8A: Example Crystal Ball Report for Exhibit 8.18
Appendix 8B: Crystal Ball Report Corresponding to the Results Presented in Exhibit 8.XX for a Double-Humped Cost Distribution Assumption
Notes
Chapter 9: Method 6: Valuation by Auctions
Introduction to Auctions
When Auctions are Feasible
Auction Examples
Auctions as Distinct from Other Types of Dealmaking
Auction Strategies for Buyers
Auction Caution
Conclusion
Appendix 9A: Bidder's Agreement
Notes
Approach 3: Dealmaking
Chapter 10: Approach: Deal Structure
Return to the "Box" and "Wheelbarrow"
"Cash When" Pricing Structures
"Cash As" Pricing Structures
"Cash If" Pricing Structures
Cash Maybe: Options
Consideration Forms Beyond Simple Cash
Special Form of Cash If: Equity
Balancing Simplicity with Comprehensiveness
Conclusion
Notes
Chapter 11: People, Process, and Lessons Learned
Introduction
Deal Team
Deal Targets
Negotiating Plan
Plan B
Concluding Advice from Technology Dealmakers
Notes
Chapter 12: In Conclusion
Approach of Opportunity Discovery as a Quest
Approach of Valuation: A Review of the Six Valuation Methods
Approach of Dealmaking
Closing Thoughts
Website Resources
Notes
Appendix: List of Abbreviations and Trademarks
Bibliography
About the Author
Index
Uses of Rating/Ranking with Approaches and as a General Tool
Perspectives on Rating/Ranking as an Approach with Licensing D-V-D
Knowledge, Uncertainty, and Humility
Conclusion
Appendix 5A: Factors in Pricing License (A checklist of 100 important considerations in setting value of technology license)
Notes
Bibliography
Chapter 6: Method Three: Rules of Thumb to Determine Valuation
Foundations of Rules of Thumb
Cost Savings Example of the 25 Percent Rule
Perspectives on the 25 Percent Rule
Use of the 25 Percent Rule for Apportioning New Profits
Examples of Applying the 25 Percent Rule to New Profits Licensing
A Universal Rule of Thumb Chart
Other Percent Rule Values
Some Misuses / Misapplications of the 25 Percent Rule
Other Valuation Rules of Thumb Used (or Have Been Proposed)
Summary Points on the Use of the 25 Percent Rule
Conclusion
Notes
Chapter 7: Method Four: Discounted Cash Flow Method to Determine Valuation
Overview of the DCF Method
Basic Financial Concepts
Quantification, Classification of Risk (RAHR)
An Example Cash Flow Projection from a License
Additional Considerations for Calculating DCF
Segment and Scenario Analysis
Cash Flow Projections
Other Issues to Be Considered with the DCF Method
Conclusion
Sources of Information to Develop Business Projections
Notes
Chapter 8: Method Five: Advanced Valuation Methods
Monte Carlo and Real Options
Modified DCF Method
Monte Carlo Method
Real Option Methods
Conclusion
Appendix 8A: Example Crystal Ball Report for Exhibit 8.18
Appendix 8B: Crystal Ball Report Corresponding to the Results Presented in Exhibit 8.XX for a Double-Humped Cost Distribution Assumption
Notes
Chapter 9: Method 6: Valuation by Auctions
Introduction to Auctions
When Auctions are Feasible
Auction Examples
Auctions as Distinct from Other Types of Dealmaking
Auction Strategies for Buyers
Auction Caution
Conclusion
Appendix 9A: Bidder's Agreement
Notes
Approach 3: Dealmaking
Chapter 10: Approach: Deal Structure
Return to the "Box" and "Wheelbarrow"
"Cash When" Pricing Structures
"Cash As" Pricing Structures
"Cash If" Pricing Structures
Cash Maybe: Options
Consideration Forms Beyond Simple Cash
Special Form of Cash If: Equity
Balancing Simplicity with Comprehensiveness
Conclusion
Notes
Chapter 11: People, Process, and Lessons Learned
Introduction
Deal Team
Deal Targets
Negotiating Plan
Plan B
Concluding Advice from Technology Dealmakers
Notes
Chapter 12: In Conclusion
Approach of Opportunity Discovery as a Quest
Approach of Valuation: A Review of the Six Valuation Methods
Approach of Dealmaking
Closing Thoughts
Website Resources
Notes
Appendix: List of Abbreviations and Trademarks
Bibliography
About the Author
Index
... weniger
Autoren-Porträt von Richard Razgaitis
Dr. Richard Razgaitis is a Senior Advisor at CRAI, an international consulting firm providing expertise in economics, finance, and business strategy. He has over thirty years of experience working with the develop-ment, commercialization, and strategic management of technology, more than twenty-five of which have been spent specializing in the commercialization of intellectual property. He has negotiated numerous commercialization agreements with clients in the United States, Europe, and the Far East, ranging from Fortune 500 to small startup companies and is the author of four books on valuation and negotiation/dealmaking published by John Wiley and Sons.
Bibliographische Angaben
- Autor: Richard Razgaitis
- 2009, 2. Aufl., 624 Seiten, Maße: 18,3 x 26 cm, Gebunden, Englisch
- Verlag: Wiley & Sons
- ISBN-10: 0470193336
- ISBN-13: 9780470193334
- Erscheinungsdatum: 17.07.2009
Sprache:
Englisch
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