Zur Bewertung von Patenten bei Spin-offs

Florian Follert

ZögU - Zeitschrift für öffentliche und gemeinwirtschaftliche Unternehmen, 2020, vol. 43, issue 4, 506-513

Abstract: In their paper published in issue 43(1-2) of this journal, Gawenko and Hinz (2020) present a proposal for patent valuation and thus contribute to the discussion on the appropriate valuation of intangible assets in general and the valuation of intellectual property rights in particular. The present essay aims to raise awareness of different problems within the Gawenko-Hinz model. From the point of view of valuation theory, which is universally suitable for the valuation of future uncertain payment streams, the use of the CAPM in particular is to be regarded as critical, since this equilibrium model cannot reflect the real decision situation of an entrepreneur. Also, dealing with the uncertainty, which is particularly pronounced in start-up companies, does not appear to be appropriate. The aim of this commentary is to sensitize for the problems in order to enrich the discussion. Overall, the task of valuation theory research will continue to be to create a balance between individuality and typification.

Date: 2020
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DOI: 10.5771/0344-9777-2020-4-506

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ZögU - Zeitschrift für öffentliche und gemeinwirtschaftliche Unternehmen is currently edited by Prof. Dr. Frank Schulz-Nieswandt, Universität Köln (geschäftsführend), Prof. Dr. Thomas Lenk, Universität Leipzig, Prof. Dr. Holger Mühlenkamp, Deutsche Universität für Verwaltungswissenschaften Speyer, Prof. Dr. Johann Christian Pielow, Ruhr-Universität Bochum, Prof. Dr. Christina Schaefer, Helmut Schmidt Universität, Universität der Bundeswehr Hamburg, Prof. Dr. Ludwig Theuvsen, Georg-Augustin-Universität Göttingen and Prof. Dr. Dieter Kurt Tscheulin, Albert-Ludwigs-Universität Freiburg

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