Leveraging Patents Financially A Company Perspective
Intangible assets such as patents have become important competitive factors and key elements in the value structure of technology-intensive companies. While patents represent the technological capital to a large extent, they are not adequately represented
- PDF / 2,568,427 Bytes
- 225 Pages / 419.528 x 595.276 pts Page_size
- 98 Downloads / 181 Views
GABLER RESEARCH
Dominic de Vries
Leveraging Patents Financially A Company Perspective With a foreword by Prof. Dr. Cornelius Herstatt
RESEARCH
Bibliographic information published by the Deutsche Nationalbibliothek The Deutsche Nationalbibliothek lists this publication in the Deutsche Nationalbibliografie; detailed bibliographic data are available in the Internet at http://dnb.d-nb.de.
Dissertation Hamburg University of Technology, 2011
1st Edition 2011 All rights reserved © Gabler Verlag | Springer Fachmedien Wiesbaden GmbH 2011 Editorial Office: Marta Grabowski | Jutta Hinrichsen Gabler Verlag is a brand of Springer Fachmedien. Springer Fachmedien is part of Springer Science+Business Media. www.gabler.de No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the copyright holder. Registered and/or industrial names, trade names, trade descriptions etc. cited in this publication are part of the law for trade-mark protection and may not be used free in any form or by any means even if this is not specifically marked. Cover design: KünkelLopka Medienentwicklung, Heidelberg Printed on acid-free paper Printed in the Netherlands ISBN 978-3-8349-3176-4
Foreword
Together with other intangible assets, patents constitute essential value and competitive factors for companies, particularly companies in technology-intensive sectors. Patents’ legal and economic value is beyond question, while their quantitative valuation remains challenging due to a lack of efficient and reliable methods. In practice, the valuation of patents is therefore often limited to qualitative appraisals and “strategic” assessments. This dissertation’s point of departure is the observation that the value of patents and patent portfolios are often accounted for indirectly, but not based on qualitative valuations in corporate financing. In this study, Dominic de Vries investigates whether and to what extent patents may contribute to corporate financing and which factors may be relevant for it. Thus, he observes the high importance of patents for innovative companies on the one hand and the difficult utilization of these valuable assets for corporate financing on the other, placing his focus on this discrepancy. Based on an empirical study, he addresses his set of research questions within the German industry. As a result, Dominic de Vries provides descriptive and partially explanatory findings and translates these into hypotheses. In the process, he chooses an explorative, survey-based research approach, which he combines with a large-scale empirical study. In my view, the overall findings of his research are interesting and enriching for academics as well as practitioners. The distinction of the findings concerning company size clusters allows for a differentiated insight into corporate finance practice. Another interesting finding is that, to date, mostly traditional financing
Data Loading...
