Searching for factors influencing technological asset value

Vittorio Chiesa, Federico Frattini, Elena Gilardoni, Raffaella Manzini and Emanuele Pizzurno

European Journal of Innovation Management, 2007, vol. 10, issue 4, 467-488

Abstract: Purpose - The purpose of this paper is twofold: firstly, to identify the factors that are capable of influencing the value of a technological asset that is exchanged in the context of a business transaction and, secondly, to identify the direction of the relationship between each factor and the technological asset value. Design/methodology/approach - First of all, an in‐depth analysis of the available literature about the assessment of technological asset value was conducted. Then a panel study was organised, involving several intellectual property managers and consultants and senior practitioners working in the field of IP assessment. Finally, an illustrative case study was conducted. Findings - The paper proposes a framework that encompasses the following classes of factors: asset related; firm related; context related; risk related; and transaction related. It is shown that these factors are capable of influencing the value of a technological asset that is exchanged in the context of a business transaction and the direction of their impact is indicated. Practical implications - The paper is believed to be a useful instrument capable of supporting managers and appraisers who, in the context of a specific business transaction involving the exchange of a technological asset between the counterparts, are called to assess its value. Originality/value - The value of a technological asset is typically estimated through monetary techniques (cost, income and market methods) that often turn out to be disappointing in practice. This is mainly due to their quantitative nature, that impedes them to appropriately take into account qualitative variables capable of affecting the value of the asset. This paper is the first attempt, to the best knowledge of the authors, that draws together these variables in a comprehensive form and suggests the direction of their impact on the asset value.

Keywords: Assets; Intellectual property; Value analysis (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ejimpp:14601060710828781

DOI: 10.1108/14601060710828781

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