Patent value assessment and commercialization strategy

It is difficult to assess the value of a patent before it is commercialized in the market. In this study, the author presents a hybrid method of assessing patent value and determining strategy in the early stage of commercialization. The author uses empirical data from Yuan Ze University to test the method. As a result of his analysis, the author categorized patents into four groups according to benefits and risk factors extracted from a factor analysis, and for each group of patents the author offers possible strategies for further commercialization. The method, which uses fuzzy measurement to pinpoint the location of a patent in a matrix with great precision, is more accurate than traditional technology portfolio planning models that rely on Likert scales. The method can highlight change in the meaning and strategic grouping of a patent. Furthermore, it can be used for long-term strategic planning, such as strategic foresight and corporate foresight.

► This study addressed assessing patent value. ► The fuzzy TPP model was applied to determine commercialization strategy. ► The author used empirical data from Yuan Ze University to test the method. ► As a result of his analysis, the author categorized patents into some groups. ► For each group of patents the author offered possible commercialization strategies.