By Christian Grube
Patent rights count number one of the most crucial assets in sleek economies and will be an incredible driving force of a firm’s functionality. The effective administration of those key assets, even though, calls for knowing their inherent price strength. The advanced nature of patent rights frequently demanding situations conventional methods to worth.
Christian Grube analyses the worth capability of patent safety of knowledge-based aggressive benefits. He extends present study at the knowledge-based view of the company and reports methods and strategies to worth nationwide and foreign patent rights. the writer enhances his theoretical study via empirical analyses at the worth of licensing agreements and at the adequacy of bibliographic patent info for patent valuation. His findings convey that complicated licensing contracts signify a ecocnomic technique to take advantage of the price of patented innovations and that bibliographic patent facts can help the valuation of advanced patent portfolios.
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Additional info for Measuring the Immeasurable: Valuing Patent Protection of Knowledge-Based Competitive Advantages
However, these processes are path-dependent at both the firm and individual level. This pathdependency leads to the emergence of individual and firm-specific, complementary assets that might have a significant impact on the knowledge of an employee or an organization. 3 The definition of knowledge Although many aspects of knowledge have been analyzed in the contributions mentioned above, the existing body of literature offers only a few definitions for this concept. Other than knowledge being just the “state of knowing” (Machlup, 1980, 56) or “that which is known” (Grant, 1996a, 110), it is stated that knowledge is based on information (Caldwell, 1975, 570) that is interpreted by the knowing entity (Huber, 1991, 89) and, following the JTB approach, assumed (Nonaka, 1994, 15) or proven (Liebeskind, 1996, 94) to be true.
Imperfectly imitable (I) Valuable and rare resources only originate sustained competitive advantage if those firms that do not have access to these resources cannot obtain them (Barney, 1991, 106). 3 of this Part). Resources are imperfectly imitable because of one of the following reasons: Nonsubstitutable (N) Unique historical conditions (resources are only available during a defined window of time. Causal ambiguity (neither the firm itself nor any of its competitors can reveal the connection between a firm’s resources and its success).
Knowledge may contain different levels (Locke) and the content of knowledge depends on (path-dependent) experience or learning (Dewey) and on mental and physical abilities (Ryle). 1 Knowledge, competitive advantages, and the resource-based view of the firm In contrast to the epistemologists, who have focused mostly on concept, origin, and reliability of knowledge, economic theorists analyze the role of knowledge in the resource transformation process. Hence, a value-relevant taxonomy of knowledge can be developed using the resource-based view of the firm.