PATENT VALUATION ON ORGANIC COMPOSITE BOARD FOR VERTICAL GARDEN IN CIBINONG SCIENCE AND TECHNOLOGY PARK (CSTP)
Abstract
One of Science and Technology Park core business is commercialisation of patent. Regarding this, STP must have the capability to calculate proper value of its patents. This study try to implement income based approach valuation because in many case, this is the most suitable approach for government institutions include Cibinong Science and Technology Park. Patent of organic composite board for vertical garden is being used as a case study. Estimated income was calculated using Discounted Cash Flow Method, meanwhile Porter’s 5 force analysis gives an overview of the business nature. The calculation showed that Nett Present Value of the business reached Rp. 1.317.668.561. License fee was calculated using rules of 25% from EBIT percentage compared to revenue, and the result is Rp. 114.000.000. Royalti fee set in high rate (4%) because the analysis showed that the business nature is conducive. The accumulation of expected royalty will be Rp. 1.201.200.000.
Keywords: Patent valuation, Income based approach, Commercialisation, Cibinong Science and Technology- Park
References
Aiman, S. (2014). Patent Valuation of Public RnD Institutions. Warta KIML, Vol 12, No.1.
Aries, R. S., & Newton, R. (1955). Chemical Engineering Cost Estimation. McGraw-Hill Book Company.
Bappenas. (2015). Rencana Pembangunan Jangka Menengah Nasional 2015-2019.
BPS - Kependudukan. (2017). Retrieved from Badan Pusat Statistik: https://www.bps.go.id/linkTabelStatis/view/id/1268
BPS Indonesia. (2016). Financial Statistic . BPS Indonesia.
Bribach, C. J., & Rossomano, D. (2012, March 27). United States Patent No. US 8,141,294 B2.
Budaya - Demografi. (2017). Retrieved from Indonesia-Investment: https://www.indonesia-investments.com/id/budaya/penduduk/item67?
Cadle, J., Paul, D., & Turner, P. (2010). Business Analysis Techniques; 72 Essential Tools for Success. British Informatics Society Limited (BISL).
Creswell, J. W. (2003). Research Design; Qualitative, Quantitative, and Mix Metods Approaches.
Garland, D. (1998). Valuating of Intellectual Property Assets: Significance, Parameters, Methodologies and Limitations. WIPO.
Goldscheider, R. (2011). The Classic 25% Rule and The Art of Intellectual Property Licensing. Duke Law & Technology Review, No. 006.
Gopalakrishnan, S. C. (2015). Intellectual Property Valuation Training. Duff & Phelps Singapore Pte., Ltd.
Gopar, M. (2015). Accelleration, Production and Utilisation of Vertical Garden Media for Green Building Needs.
Government Regulation No. 46 Year 2013 [Peraturan Pemerintah No. 46 Tahun 2013 Tentang Pajak Penghasilan atas Penghasilan dari Usaha yang Diterima atau Diperoleh Wajib Pajak yang Memiliki Peredaran Bruto Tertentu]
ip4inno. (2007). Students Handbook: Valuation of Intellectual Property. Pro Inno Europe; Inno Actions; ip4inno.
Kiesha Frue, T. B. (2017). What is Pestle Analysis? A Tool for Business Analysis. Retrieved from Pestle Analysis: http://pestleanalysis.com/what-is-pestle-analysis/
Kratiger, A. (2007). Evaluation and Valuation of Technology. In A. Krattiger, R. Ma-honey, & L. Nelsen, Executive Guide to Intellectual Property Management in Health and Agricultural Innovation: A Handbook of Best Practices (pp. 795-876). Oxford: MIHR.
Law No. 26 Year 2007 [Undang-Undang Republik Indonesia No. 26 Tahun 2007 tentang Penataan Ruang).
LIPI. (2015). Perka LIPI Nomor 7 Tahun 2015.
Ministry of Industry. (2009). Coconut Processing Industry Roadmap. Jakarta: Directorate General for Agro and Chemical Industry, Ministry of Industry.
Olson, E. J., & Verkuil, C.R. (2011). Damages Experts in Patent Cases Can No Longer Use the "25 Percent Rule of Thumb" to Determine Royalty Rates. Client Alert., p. 1.
Pinto, J.E., Henry, E., Robinson, T.R., & Stowe, J.D. (2010). Equity Asset Valuation. CFA Investment Institute Series.
Pitkethly, R. (1997). The Valuation OF Patents : A review of patent valuation methods with consideration of option based methods and the potential for further research. New Developments in Intellectual Property: Law and Economics. Oxford.
Porter, M. (1985). Competitive Advantage. New York: Simon & Schuster.
R.J.K, M. (1993). Discounted Cash Flow. Their Current Use.
Razgaitis, R. (2009). Valuation and Dealmaking of Technology-Based Intellectual Property: Principles, Methods and Tools. New Jersey: John Wiley & Sons, Inc.
Stathis, K. L. (2015). Ocean Tomo Releases 2015 Annual Study of Intangible Asset Market Value. Retrieved from Ocean Tomo: http://www.oceantomo.com/blog/2015/03-05-ocean-tomo-2015-intangible-asset-market-value/
Copyright (c) 2016 Review of Indonesian Economic and Business Studies (RIEBS)
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work
Every submitted manuscript should be accompanied by "Copyright Transfer Agreement".
