Black-Scholes模型应用于知识产权评价的研究

应用选择权理论中的Black-SchoIes订价模型,从财务面计算知识产权的经济价值,探讨理论经济价值与实际交易价格之间的关系.实证结果显示：6成以上的企业对于知识产权所愿意支付的专利技术移转权利金,不及该项知识产权未来可以为企业带来现金流入的1%.因此,采用Black-Scholes模型进行知识产权的评价具有指标性的作用,为知识产权交易过程中权利金的决定提供了参考依据.

Study of Intellectual Property Rights Evaluated by Using Black-Scholes Model

This article applies the Black-Scholes modle from the theory of options to discuss the relationship between the theoretical economic value and the practical trading price when calculating the economic value of intellectual property rights in the financial realm. The result shows: the authorized fee that over 60 percent of enterprises are willing to pay for the pattern transfer for the technology is actually deficient even 1 percent lower than the cash flow that this intellectual property right will bring to the enterprise in the future. Therefore, using the Black-Scholes model to evaluate the intellectual property rights have an index effect, and it provides a reference as making decision about the authorized fee of the intellectual property rights in trading process.