Real Options and Intellectual Property [electronic resource] :Capital Budgeting Under Imperfect Patent Protection / by Philipp N. Baecker.
by Baecker, Philipp N [author.]; SpringerLink (Online service).
Material type:
BookSeries: Lecture Notes in Economics and Mathematical Systems: 587Publisher: Berlin, Heidelberg : Springer Berlin Heidelberg, 2007.Description: X, 278 p. 47 illus. online resource.ISBN: 9783540482642.Subject(s): Economics | Finance | Economics, Mathematical | Banks and banking | Technology | Economics/Management Science | Financial Economics | Finance /Banking | Technology Management | Game Theory/Mathematical Methods | Quantitative Finance | Operations Research/Decision TheoryDDC classification: 332 Online resources: Click here to access online | Item type | Current location | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|
| MAIN LIBRARY | HG1-9999 (Browse shelf) | Available |
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Patenting Under Uncertainty -- Patent Protection, the Firm, and the Economy -- Uncertainty, Irreversibility, and Flexibility -- Patent Protection in the Pharmaceutical Industry -- Exogenous Patent Risk -- and Related Work -- Patents as Investment Opportunities -- Patent Risk as Jumps in the Underlying Process -- From Business Shifts to Jump Processes -- Preliminary Conclusion -- Endogenous Patent Risk -- and Related Work -- Patent Risk as an Option to Litigate -- Preliminary Conclusion -- Conclusion.
Over the last years, due to intensive competition in the knowledge economy, legal aspects surrounding intellectual property (IP) rights - including litigation and settlement - have continuously gained in importance. Correspondingly, professional IP management has become an indispensable element of successful value-based management (VBM) in research-intensive firms. With this text, the author proposes an integrated approach to patent risk and capital budgeting in pharmaceutical research and development (R and D), developing an option-based view (OBV) of imperfect patent protection, which draws upon contingent-claims analysis, stochastic game theory, as well as novel numerical methods. Bridging a widening gap between recent advances in the theory of financial analysis and current challenges faced by pharmaceutical companies, the text re-initiates a discussion about the contribution of quantitative frameworks to value-based R and D management.
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