Philipp N. Baecker

Real Options and Intellectual Property (eBook, PDF)

Capital Budgeting Under Imperfect Patent Protection

• Format: PDF

Produktbeschreibung

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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Produktdetails

• Verlag: Springer Berlin Heidelberg
• Seitenzahl: 282
• Erscheinungstermin: 6. August 2007
• Englisch
• ISBN-13: 9783540482642
• Artikelnr.: 37369848

Autorenporträt

Philipp N. Baecker, European Business School, Oestrich-Winkel, Germany

Inhaltsangabe

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.