Real Options and Intellectual Property Capital Budgeting Under Imperfect Patent Protection /

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 s...

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Κύριος συγγραφέας: Baecker, Philipp N. (Συγγραφέας)
Συγγραφή απο Οργανισμό/Αρχή: SpringerLink (Online service)
Μορφή: Ηλεκτρονική πηγή Ηλ. βιβλίο
Γλώσσα:English
Έκδοση: Berlin, Heidelberg : Springer Berlin Heidelberg, 2007.
Σειρά:Lecture Notes in Economics and Mathematical Systems, 587
Θέματα:
Διαθέσιμο Online:Full Text via HEAL-Link
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100 1 |a Baecker, Philipp N.  |e author. 
245 1 0 |a Real Options and Intellectual Property  |h [electronic resource] :  |b Capital Budgeting Under Imperfect Patent Protection /  |c by Philipp N. Baecker. 
264 1 |a Berlin, Heidelberg :  |b Springer Berlin Heidelberg,  |c 2007. 
300 |a X, 282 p. 47 illus.  |b online resource. 
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490 1 |a Lecture Notes in Economics and Mathematical Systems,  |x 0075-8442 ;  |v 587 
505 0 |a 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. 
520 |a 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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