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Real Options and Intellectual Property

Capital Budgeting Under Imperfect Patent Protection

Philipp N. Baecker

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English
Springer-Verlag Berlin and Heidelberg GmbH & Co. K
10 January 2007
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.
By:  
Imprint:   Springer-Verlag Berlin and Heidelberg GmbH & Co. K
Country of Publication:   Germany
Edition:   2007 ed.
Volume:   587
Dimensions:   Height: 235mm,  Width: 155mm,  Spine: 15mm
Weight:   910g
ISBN:   9783540482635
ISBN 10:   3540482636
Series:   Lecture Notes in Economics and Mathematical Systems
Pages:   282
Publication Date:  
Audience:   Professional and scholarly ,  Undergraduate
Format:   Paperback
Publisher's Status:   Active

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