KR101930591B1 - System for evaluation of technological value of agro-forest-livestock-marine products - Google Patents

Abstract

The invention relates to a system for assessing the value of agriculture, forestry and fishery products, which can be used effectively for technology transfer and transaction, technical financial support, etc. of the agriculture, forestry and fishery products, and can select various profitable approaches and royalty deduction laws. The present invention includes a Revenue Approach Technical Value Assessment Department, a Royalty Revenue Act Technical Value Assessment Department, and a Revenue Approach Technical Value Assessment Department and a Royalty Revenue Act Technical Value Assessment Department. Wherein the Revenue Approach Technical Value Assessment Unit comprises an Economic Effective Lifetime Acquisition Government; Discount rate; A first present value accounting government; And technical contribution calculations. The royalties subtraction technique valuation unit may include an economical useful life calculation unit; Discount rate; Second present value accounting government; And a royalty rate calculation section.

Description

The system for evaluation of food technology value of agro-forest-livestock-marine products

The present invention relates to a system for evaluating the technical value of agricultural, forestry and fishery products, and more particularly, to a system for evaluating the technical value of agricultural, forestry, and fishery products by selectively applying a profit approach and a royalties deduction method.

Technology valuation or technology valuation refers to calculating the economic value of technology that can be generated through commercialization by price, grade, or score. Although the methods and procedures for performing the technology evaluation are somewhat different according to the evaluation institution and the technology evaluation model, in general, it is necessary to grasp the outline of the technology to be evaluated, and then to define the product group (Step 1). The next step is to analyze the internal and external factors affecting the technology commercialization, such as the technology's profitability and competitiveness such as TRL and expected performance, the competence of the business entity, the size and growth rate of the target market, 2) stage of the technical analysis (3) to determine whether the technology of the implemented product can secure competitiveness (3), 4) analysis of the marketability of whether the target market has sufficient conditions to generate profit, , And the feasibility analysis stage (step 5), which considers the market environment targeted by the technology and the competence of the business entity. In this case, the analysis of the feasibility of how much profit can be realized relative to the investment cost is taken into consideration by comprehensively considering the evaluation factors derived from the above analysis process. Here, rather than the qualitative evaluation, the 'cost and profit structure analysis' Market share ", and" cash flow estimation "(Step 6). If the quantitative analysis through business feasibility evaluation is made, it is possible to estimate the cash flow expected to be generated through technology. Based on this, it is possible to calculate the exchange value (value) of the technology at the present time. This process is called 'technical value calculation (step 7)'. In this case, it can be called 'evaluation step of technology'. After the judgment of technology is reached to a certain level, the technical evaluation report (report) do.

As a method of evaluating the technology value, the market approach, the profit approach, and the cost (cost) approach based evaluation method are generally used in Korea.

The Revenue Approach or the Income Approach is a method of predicting the expected return expected to be created in the future and converting it into its present value. In other words, it is a method of calculating the technical value of the sum of the current value of the free cash flow (FCFF) generated from the product to which the technology is applied, by the contribution of the technology. A method to estimate the value of technology by estimating the additional cash flow generated by owning or operating the technology is called the Discounted Cash Flow (DCF) model and is the most widely used method . This method can be said to obtain the fair market value by capitalizing the profitable ability of the technology. In particular, in the case of the domestic technology trading market, it is most preferred in the fields of technology evaluation and technology commercialization due to the fact that reliable technology transfer or licensing loyalty data are not accumulated and that the technology can not be sold only by the cost of technology development As a means of assessing the value of technology value. In order to estimate the value of the profit approach, it is necessary to estimate the economic life of the technology, the cash flow, the discount rate, the technology contribution, etc. Estimation of the evaluation factor is required.

The profit approach is generally performed in the same manner as in FIG. 1, except that the estimation of the profit period (economic life) (10), the estimation of the future economic profit, the cost analysis, the calculation of the capital expenditure (30), calculation of NPV (40), derivation of technical value ratio (50), estimation of final technical value (60).

On the other hand, there is a relief-from-royalty method (RFR), which is widely used in the valuation market in addition to the market approach, profit approach and cost approach. This is a method of estimating the amount of royalties to be reduced as the technology owner does not have to pay the royalties to be paid when they are licensed from a third party and converting them to their present value. To reflect the royalty rate.

The general technology valuation procedure based on the royalty-deductible method is shown in FIG. (25) Analyze the economic value of technology, such as technology, marketability, and business feasibility (15), and examine the terms of the license agreement, which is the basis for deriving the value of the technology under consideration, specially considering the following conditions.

The description of the legal rights of the licensed assets as the basis.

The technical contents (product advertisement, product improvement, quality control, etc.) required to maintain the standard technology

Effective date of the underlying license agreement

Expiration date of the underlying license agreement

Exclusivity of the underlying license agreement

It then evaluates the overall industry situation, current market conditions, future market prospects (35), estimated economic years of service, revenue, and royalty rate (45) Estimated and estimated discount rate is applied to economic profit and finally technical value is calculated (55).

Assuming that the amount of royalties applying royalties is sales, the technological value can be calculated by the formula of [technical value = (present value of royalty rate after sales of the comparative technology × sales amount) adjustment factor].

Patent Registration No. 10-1324214, Date of Publication November 6, 2013 Patent Registration No. 10-1228969, Date of Publication February 1, 2013 Patent Publication No. 10-2006-0113898, published on November 3, 2006

It is necessary to update infrastructure information of relevant key variables with the latest information by establishing technology valuation infrastructure for agri-food sector based on existing profit approach. As a result of this project, Some of the infrastructure systems need to be revised. In addition, recently, the global standard of technology valuation is recommended to apply the market valuation method based on the market value. In this regard, it is required to construct a technology valuation system based on market approach in the field of agricultural products.

Technology evaluation models utilized by various technology evaluation organizations have been developed and developed mainly in manufacturing related technologies such as mechanical, electrical and electronic, information communication, and chemical fields, and agricultural and forestry, livestock, fisheries, It has been pointed out that there is a limit to fully reflect the characteristics of the field and the realities of the field. Therefore, we propose a technology valuation system specialized in agriculture, forestry and fisheries food, which can be useful for technology transfer, transaction and technical financial support for agriculture, forestry and fishery products. In addition, we can choose profit approach and royalty deduction method We propose a technology valuation system that can cope with various purposes.

According to an aspect of the present invention, there is provided a profit evaluation method for evaluating a technology value based on a profit approach, a royalty evaluation method for evaluating a technology value based on a royalty deduction method, There is provided a system for evaluating the value of the agricultural, forestry, and fishery products, which includes an evaluation method selection unit for selecting a desired evaluation method among the technical value evaluation unit of the Revenue Approach Technology Value Evaluation Unit.

Herein, the Revenue Approach Technology Value Evaluation Unit refers to the TCT index database (DB) to calculate the remaining service life of the cited patent, and to evaluate the influencing factors affecting the service life of the technology by referring to the service life affecting DB An economic useful life estimation module including an evaluation module for a technology life expectancy factor, an economic life span calculating module for calculating an economical life span of the technology, and an economical effective life span calculating module for calculating an economical useful life of the technology;

In order to utilize the capital asset pricing model, we use industry-specific equity capital, which estimates equity capital cost as a basic factor, such as risk-free rate, enterprise systematic risk beta (β) (Ke) estimating module for estimating the capital cost of the other party using the financial cost on the balance sheet included in the financial information, and a capital cost module (WACC) estimating module that obtains the WACC of the company discount rate as a weighted average of the other capital cost (kd) and the other capital cost (kd), and adds the technical commercial risk premium data and technical maturity risk premium data to the WAWW A discount rate calculating section including a module for calculating a final discount rate;

A module for calculating annual after-tax operating profit by referring to the cost DB and the cost DB, a module for calculating the free cash flow referring to the depreciation cost DB, the capital expenditure DB, the working capital increase DB, A first present value calculating section including a module for calculating a present value; And

In order to grasp the characteristics of each technology, the industry technology factor derivation module that analyzes the financial data of individual companies in each industry and derives industrial technology factors and the weight of each standardized evaluation item are given to calculate the evaluation score And a technology contribution calculating section that includes a technology contribution calculating module that calculates a technology contribution as a product of the thus derived industrial technology factor and individual technology intensity.

In addition, the royalties subtraction method technical value evaluating unit may include an economic useful life calculating unit included in the profitability approach technical value evaluating unit;

The discount rate included in the revenue valuation technical valuation part;

A second present value calculation unit including a module for calculating post-tax royalties by year with reference to the sales DB, the royalty rate DB, and the corporation tax cost DB, and a module for calculating the present value by referring to the present value calculation DB; And

Based on the royalty rate range of the loyalty statistical data DB corresponding to the technology to be evaluated, a module for calculating the royalty rate based on the evaluation of various variables affecting the determination of the royalty, a module for calculating the royalty rate, An adjustment factor derivation module for deriving an adjustment factor with reference to the rate influencer DB and a module for calculating a final royalty rate using the adjustment factor of the derived royalty rate.

In one embodiment of the present invention, the remaining service life calculation module of the economic useful life estimation module refers to the TCT index DB including the TCT index corresponding to the IPC subclass related to the agricultural, forestry and fisheries classified according to the IPC, Median of exponents, and the remaining lifetime = TCT index - means for calculating the number of years since patent registration.

In one embodiment of the present invention, the technical life expectancy factor evaluation module of the economic useful life estimation section refers to the technical life factor affective factor evaluation data including the technical factor and the market factor from the technical life influence factor database, The note may include means for evaluating the influencing factors.

Also, in one embodiment of the present invention, the economic life span calculating module of the economic life span estimating module uses the residual life span calculated in the remaining life span calculating module and the influence factor evaluation result of the technology life span influencer evaluation module

Lt; RTI ID = 0.0 > term < / RTI > of the technology.

In one embodiment of the present invention, the economic useful life calculation module of the economical useful life estimation module compares the economic life span of the technology calculated by the economic life span calculation module with the legal protection duration of the intellectual property right, The effective lifetime to be applied to the estimation is determined by 1) the economic life span of the technology <legal protection span ⇒ the economic life span of the technology is determined as the effective life span, 2) the economic life span of the technology> legal protection period ⇒ the legal protection period is determined as the effective life span Means.

Further, in one embodiment of the present invention, the non-capital cost (Kd) estimation module of the discount rate calculation unit

And the cost of capital of the other person.

In one embodiment of the invention, the weighted average cost of capital (WACC) estimation module of the discount rate estimator

(Where E is the equity capital, D is the debt, V is the total capital that is the sum of the equity capital and the debt, so E / V is the equity ratio, D / V is the debt ratio, Which is the corporate tax rate for calculating the tax cost of taxation to reflect the tax savings on interest costs).

Also, in one embodiment of the present invention, the first present value calculation unit may calculate a post-sale operating profit for each year by subtracting the cost of goods sold and the cost from the sales for each year during the cash flow estimation period, A means for calculating the surplus cash flow by subtracting the amount of capital expenditure and the amount of working capital from the sum of the investment amount, and a means for calculating the present value by year by multiplying the calculated surplus cash flow amount by the current- can do.

Also, in one embodiment of the invention, the individual technical strength evaluation items referred to by the individual technical strength measurement module of the technical contribution evaluation section may include utility strength and competitiveness characteristics, It can be used as a strength value.

In an embodiment of the present invention, the second present value calculation unit calculates royalty income after each year by subtracting the corporation tax expense from the royalty income calculated by multiplying the sales amount of each year during the cash flow estimation period by the annual royalty rate And means for calculating the present value of each year by multiplying the thus calculated post-tax royalties by the current value of each year.

It may also include means for deriving the present value of the operating profit expected to occur during the economic life of the royalties yielding module technology of the royalties yielding module, in accordance with a conventional 25% method or technology contribution in one embodiment of the invention have.

Further, in one embodiment of the invention, the adjustment factor derivation module of the royalties rate estimation section may further include means for deriving an average of the sum of the strengths of the utility strength and the competitive characteristics, which are indexes of the individual technical strengths, as adjustment factors .

According to another aspect of the present invention, there is provided a computer-readable recording medium recording a program configured to be executed by an electronic computing device such as a computer or a mobile device, .

The technical spirit of the present invention described above will become more apparent from the following detailed description of a representative embodiment together with the drawings.

According to the present invention, a technology valuation technique that fully reflects the characteristics of the agricultural, forestry, and fisheries food industry fields other than the existing manufacturing related technology is provided, and the technology valuation result that fully reflects various characteristics and the field reality can be obtained. In particular, by making it possible to selectively apply the profit approach and the royalty deduction method, the effect of the invention is maximized and it becomes possible to flexibly respond to various evaluation purposes.

Figure 1: The normal progress of the technology valuation based on profit approach
Figure 2: The normal progress procedure of royalty valuation based technology valuation
Fig. 3: Construction of a system for evaluating the value of food, agricultural, forestry and fishery products according to the representative invention of the present invention
Figure 3a: Example of a user interface (UI) implemented by the user to select an evaluation method
Figure 4: Procedure for estimating the economic useful life
5: Constitution of economical useful life estimation section 110
Figure 6: Some of the IPC subclasses related to agriculture, forestry and fisheries and their corresponding TCT index
Figure 7: Evaluation Table of Influence Factors of Technology Life
FIG. 7A: Example of a UI for outputting a remaining lifetime patent life span, a TCT distribution, a UI for inputting a total sum of influence factor scores, and a result of calculating an economic life span calculation for the technique of A01M classification in FIG. 6 for determining an economically useful life
8: Constitution of the discount rate calculating section 120
Figure 9: Commercialization risk premium analysis data
Figure 10: Maturity risk premium analysis data
10a: Data example of final discount rate derivation
11: Configuration diagram of the first present value calculation unit 130
Figure 11a: Example of cash flow data for a revenue approach
12: Structure of technical contribution calculating section 140
Figure 13: Technology contribution influence factor check data
14: Configuration diagram of the second present value calculation unit 230
14A: Example of cash flow data in the case of royalties subtraction method
15: Structure of royalty rate calculation unit 250
16: Example of calculation of royalties ratio value by adjustment of royalty rate
17: Estimated value range of adjusted royalty rate
17A: Example of calculation of royalty adjustment factor using individual technical characteristic score
18 shows an example of the calculation of the royalties rate by the correlation line method
Figure 19: The 9th Standard Industrial Classification Agriculture, Forestry and Fisheries Food Sector Classification Extraction Table
Figure 20: Example of UI screen result of technology valuation result based on profit approach in the system according to the present invention
Figure 21: Example of UI screen result of technology valuation result based on royalty offering method in the system according to the present invention

3 is a block diagram of a system for evaluating food technology value of agriculture, forestry and fisheries according to a representative invention of the present invention.

A profit evaluation method for evaluating a technology value based on a revenue approach, a royalty evaluation method for evaluating a technology value based on a royalty deduction method, And an evaluation method selection unit 300 for selecting a desired evaluation method from among the royalty payment method evaluation unit 200 and the royalties subtraction method technical value evaluation unit 200.

In addition, an economic useful life calculation unit 110 for calculating the economic useful life, the discount rate, the present value, and the technical contribution, which are variables necessary for evaluating the technology value based on the profit approach in the profitability approach technology valuation unit 100, A discount rate calculating unit 120, a first present value calculating unit 130, and a technology contribution calculating unit 140. [

Meanwhile, the economic useful life estimation unit 110 and the discount rate calculation unit 120 are commonly used for evaluating the technology value based on the royalties subtraction method in the royalties subtraction method technical value evaluation unit 200. The present value and the royalties required only in the royalties subtraction technique valuation unit 200 are calculated by the second present value calculation unit 230 and the royalty rate calculation unit 250, respectively.

The present invention is not limited to the economical useful life calculation unit 110, the discount rate calculation unit 120, the first present value calculation unit 130, the technology contribution calculation unit 140, the second present value calculation unit 230, 250 are externally connected to each of the profit and loss approach technology valuation unit 100 and the royalties tax deduction technique valuation unit 200 as separate components in FIG. 3, the present invention is not limited thereto. For example, the economic validity lifetime calculation unit 110, the discount rate calculation unit 120, the first present value calculation unit 130, and the technology contribution calculation unit 140 may be used together with software or hardware The discount rate calculation unit 120, the second present value calculation unit 230 and the royalty rate calculation unit 250 may be constituted by one element, and the economic useful life calculation unit 110, the discount rate calculation unit 120, the second present value calculation unit 230, It is possible to configure the value evaluating unit 200 as one element together with software or hardware.

The configuration and operation of each component in FIG. 3 will be described in detail.

<Evaluation Method Selection Unit 300>

The selection unit 300 for selecting the profit approach or the royalties deduction method includes the economic validity life calculation unit 110, the discount rate calculation unit 120, the first present value A function of operating the calculating section 130 and the technical contribution calculating section 140 and a function of evaluating the technological value based on the royalties subtraction method are described with reference to the economical useful life calculating section 110, the discount rate calculating section 120, The selecting unit 230, the royalty rate calculating unit 250, and the like.

FIG. 3A shows an example of a user interface (UI) implemented by a user to select an evaluation method. It can be seen that a selection button 310 for selecting a profit approach and a royalty deduction method is implemented.

&Lt; Economic useful life estimation unit 110 >

The technology value should reflect the technology life (ie, economic life span) of the target technology, so estimate the technology life span. In the present invention, the TCT index is used.

In order to estimate the technology lifetime of a specific technology group, the estimation of the patent lifetime (CLT), which is a technology lifecycle estimation method using the patent citation frequency, has been commonly used in the technology valuation area. However, when using the CLT index, the estimated life cycle of a particular citation can be applied as a representative value of the life cycle of a technology group, but there is a limit that does not sufficiently reflect the technical and market attributes that affect the economic life span of an individual technology .

Therefore, the invention of TCT (Technology Cycle Time), a technology change measurement index provided by CHI (Computer Horizon Inc.) Research through patent citation analysis, was conducted (Korea Institute of Science and Technology Information Innovation, 2012, Park Hyun-woo). The TCT index is defined as the median of the number of patents that it quotes when the patent is filed, ie the patented parallax for the quoted-patent. The TCT index is based on the backward citation technique, which quantifies the number of years of patents registered for past technologies at a certain point in time. Once the statistics are calculated, there is no change in other statistics by simply adding the calculation amount after the calculation point. This can be widely used in the field of technology valuation because it can compensate for the disadvantages of the existing invention, which requires continually updating the elapsed years since the patent registration for calculating the CLT index.

The TCT-based effective lifetime derivation process for the agricultural, forestry, and fisheries food sector technology is based on the calculation of the remaining lifetime patent lifetime (step 1), the evaluation of technology life factors (step 2), the calculation of the economic life span of technology (step 3) And the economically effective lifetime of the technology (step 4).

3 includes a remaining life calculation module 111 for calculating the remaining life of the cited patent with reference to the TCT index database (DB) 112, A technical lifetime influencing factor evaluating module 113 for evaluating an influencing factor affecting the technology lifetime by referring to the factor DB 114, an economic lifetime calculating module 115 for calculating an economic lifetime of the technology, And an economically useful life calculation module 117 for calculating an economically useful life.

4 and 5, the following description will be made with respect to the steps performed by the economical effective life calculation step.

To estimate the economic useful life, the present invention utilizes the TCT index to overcome the limit of the conventional CLT index. First, let's look at the basic methodology for calculating the TCT index.

First, the target technology group is selected. In this invention, instead of the conventional USPC class method in which the US patent classification system is used as a basic technology group, the technology life span for each IPC class, which is an international patent classification standard, is calculated. Since the technologies used for similar purposes are classified into the same type of technology according to the contents of the technology, it is a classification system suitable for defining the technology group for estimating the technology life span.

1) Selection of food related technology group of agriculture and forestry

In this invention, 2,200 patents related to agricultural, forestry, and fishery products received from the Foundation for Basic Research on Food Technology Value Evaluation of Agriculture, Forestry and Fisheries in 2010 (Organized by: Agricultural Technology Application Foundation) 644 IPC subclasses related to agriculture, forestry, fisheries, and food industries were used.

2) IPC Class Matching of Food Related Technology Group of Agriculture, Forestry and Fisheries

On the other hand, in the case of 14 codes (A01P, A61P, B29K, B29L, C05G, C12L, C12R, C13C, C13H, F16S, F21W, F21Y, G06D, H04S) of the IPC subclass related to agriculture, forestry and fisheries food industry, IPC subclass, USPC Class commentary and US patent publication data. In the case of US patent publications, IPC classification and USPC classification associated with one patent can be used to match USPC classification similar to specific IPC classification.

Next, analyze patent citations and derive the TCT index.

1) Data collection and statistical analysis

The patent database with citation information from around the world includes Derwent's WPI (which includes citation information from all 40 patents in 40 countries), the US Patent Office (USPTO), IBM, and KISTI. In the present invention, the IPC-based TCT database held by KISTI from 1857 to 2011 is constructed and statistical information is derived. The patent citation relation and its frequency were analyzed for all patents in the group by technology group (total analysis). Citation frequency was used as the mutual citation frequency. The mutual citation here refers to a quotation in the case where a citing patent of an individual technology is included together with a patent group to which a patent is belonged (cited patent), and only the frequency is calculated. However, the limit of some data is calculated by the total number of citations including the cited patents not included in the same technology group. The lifetime of the patent for the whole citation is regarded as the lifetime of the patent, statistically analyzed, and the result is expressed as the descriptive statistics such as average, median, kurtosis,

2) Calculation of TCT index of food related technology group of agriculture, forestry and fishery

Analyze the patent application data related to agriculture, forestry and fisheries classified according to IPC, and derive IPC subclass related to all food related agriculture, forestry and fisheries. Figure 6 shows some of the derived IPC subclasses related to the agriculture, forestry, and fisheries products and their corresponding TCT indices. The data of FIG. 6 is built in the TCT index DB 112 shown in FIG.

The technology lifetime is derived based on the TCT index database 112 constructed as described above. In order to estimate the technology life cycle, the representative lifetime of the food technology group of agriculture, forestry and fisheries is estimated by referring to the TCT index DB (see FIG. 6) according to the technical classification of the technology related to the agricultural, forestry, Competitiveness and qualitative factors of external environmental variables are used to reflect additional changes in the economic life span of individual technologies that are not adequately explained by the representative life span of the technology. In other words,

1) Step 1: Calculate the remaining life of a patent

As a first step for estimating the economic useful life of the technology, the remaining life calculation module 111 calculates the remaining life span. After selecting the median value (Q2) of the TCT index for the relevant technology field of the target technology to be evaluated first, calculate the remaining lifetime (= Q2 - elapsed years since the patent registration) by subtracting the elapsed years since the patent was registered do. In other words,

. Select the median (Q2) of the TCT index for the technology field of the target technology

. (= Q2 - the number of years since patent registration)

2) Step 2: Evaluation of factors affecting technology life

The second step is to evaluate the technology lifecycle influencing factor, and refers to the technology lifecycle influencing factor database 114 to reflect the characteristics of the individual technology with respect to the remaining lifetime calculated by the technology life criterion factor evaluation module 113 in the previous step. The evaluation results of this module limit the life span of individual technologies. Here, experts in the field of food, agriculture, forestry and fisheries can participate in the evaluation. The evaluation of the technology life-span influencing factor is as follows. For the technical factor and the market factor, as shown in Table 7, 'Score. This score can have a value from a minimum of -20 points to a maximum of +20, and the average value is 0, of course. In other words, the average score for each item is evaluated based on the relative score based on the score of zero.

In FIG. 7, the meaning of the detailed factor items of the respective influence factors will be described in detail as follows.

- Technology conversion cost: The larger the R & D cost for replacing the current technology with other technology,

- Superiority of technology: The higher the differentiation of technology and the higher possibility of use, the more advantageous

- The existence of dominant (standard) technology: As the uncertainty decreases due to the existence of dominant or standard technologies in the industry,

- R & D investment in the industry: The larger the total R & D investment in the industry,

- Whether the application is made overseas: If the overseas application for the evaluation target technology exists,

- Frequency of new products: Low frequency of new products and long product life cycle

- Easy to imitate the product: The greater the ease of imitating the product to which the technology is applied,

- Price competitiveness of products: The higher the price competitiveness of the products to which the technology is applied, the more

- Government regulations / barriers to entry: The higher the barriers to entering the market due to the government regulations in the technical product field,

- Target Industry Scope: The broader the applicable industry field is, the more points

3) Step 3: Calculate the economic life span of technology

In step 3, the economic life span calculation module 115 calculates the economic life span of the technology as follows using the residual life span calculated in step 1 and the influence factor evaluation result.

4) Step 4: Determine the economic useful life of technology

Finally, the economic useful life calculation module 117 compares the economic life span of the technology calculated by the economic life span calculation module 115 with the legal protection period of the intellectual property right, and finally calculates an effective life span to be applied to the profit generation period estimation We decide as follows.

. Economic life of technology <Legal protection period ⇒ Determine economic life of technology as effective life

. Economic life of technology> Legal protection period ⇒ Determine the legal protection period as the effective life

Hereinafter, the economic useful life calculation process of the present invention will be described in detail. The following examples illustrate the economically useful life calculation process in the field of agricultural metal product manufacturing industry after three years of patent registration.

1) Calculation of remaining service life by TCT index

The evaluation target technology is 11 years when the median value of the TCT index for the technical field is taken because the representative IPC class is the A01B in the agricultural industry classification-IPC class linkage table shown in FIG. Therefore, the remaining lifetime = TCT index (11 years) - the number of years since patent registration (3 years) = 8 years.

2) Step 2: Evaluation of factors affecting technology life

The following evaluation data were completed by inputting data into the evaluation data of the influence factors of technology life in Fig.

3) Step 3: Calculate the economic life span of technology

Economic life of technology = 8 years × (1+ -4/20) = 6.4 years

4) Step 4: Determine the economic useful life of technology

Economic life of technology (6.4 years) <Legal protection period (17 years) ⇒ Effective life (9 years) ⇒ Applicable economic life of technology. Therefore, the cash flow estimation period = commercialization investment period (2 years) + economic useful life of technology (6.4 years) = 8.4 years.

On the other hand, FIG. 7A shows an example of a UI for outputting a remaining lifetime patent lifetime, a TCT distribution, a UI for inputting the total sum of influence factors, and a result of calculating an economic life span calculation for the technology of A01M classification in FIG. 6 for determining the economic useful life Respectively.

<Discount rate calculation section 120>

First, we explain how to adjust the value (discount, premium, etc.) to explain the concept of 'discount'. The use of different approaches is essential when assessing the value of intangible assets or real assets. This is the fundamental principle pointed out in the valuation principle. Since financial assets have a financial market where transactions are active, it is easy to derive value from the market, so only one or two valuation methods are sufficient. However, real or intangible assets are subject to no valuation or market development, and all applicable valuation methodologies should be utilized. When applying various valuation methods, various numerical values are naturally derived from each methodology, which are called value indicators. This value indicator is the basis for the final value conclusion. However, the final figures obtained through value indicators are not yet final values. This is because there is still some coordination that reflects what kind of value is determined when the derived value is realized in the market. This adjustment is the process of applying premiums and discounts on the final figures derived.

Premiums and discounts are the work of reviewing and adjusting how values are realized if they are traded in real markets. Premiums are added if the value is added to the derived value, and discounts are made if the value is reduced. Note that this discount is different from the discount rate mentioned in the cost of capital.

Valuation of a private company is usually performed using two or more valuation models or techniques. The value calculated through such a model or technique is only initial price information in valuation. When evaluating the value of a company, this value is called an enterprise value. Final value The conclusion is to estimate the market value. The adjustment of the corporate value needed to reach the market value is called a valuation discount or premium.

The final discount rate to be applied as the adjustment coefficient to the technical valuation of the present invention is [Corporate discount rate weighted average capital cost (WACC) + technical commercial risk premium + technical maturity risk premium] Will be described with reference to FIG.

(1) Estimating the cost of equity capital (Ke) by the food,

In order to utilize the Capital Asset Pricing Model, the cost of equity capital is estimated using the risk-free rate, the systematic risk of the enterprise (β), the market risk premium . These factors are obtained by referring to the financial information DB 121-1 of the company.

The market risk premium is defined as [E (r _m ) -r _f ], the difference between the expected and the risk-free interest rates for the market portfolio. The market risk premium is generally derived from the assumption that future patterns will be similar to those obtained from past data, using historical historical time series data. The market risk premium based on historical time series data is generally estimated from the difference data between the long-term stock market return and the risk-free interest rate. The use of long-term data is intended to minimize the estimation error due to the business cycle, and this estimation method is common in academia. For the US market, the historical market risk premium is shown as 5.73 to 6.16% in the table below (historical market risk premium in the US market: unit:%). Based on the data released at the corporate valuation conference in the US in 2009, we present statistics on the risk-free interest rate and market risk premium applied by US valuation institutions. According to the announcement, the risk-free interest rate is 4.10% and the market risk premium is 6.50%.

Since the market risk premium for the domestic market is not announced periodically, it is calculated and applied by the thesis or evaluation institution itself. (2005) of the Korea Technology Transfer Exchange (KOSDAQ) applied 8% of the papers, and in the Technical Assurance Fund Practice Guidance (2008), the historical estimation method for the period 1986-2005 is 5.78%. In the present invention, the market risk premium is set at 6%. Based on the above information, CAPM, which is the cost of equity capital, is composed of "CAPM = 3.64% + enterprise beta (β) × 6%".

In one embodiment, the risk-free rate of the cost of equity capital structure is 4.7%, which is the average of the interest rates for the three-year and five-year maturities of the domestic market during 2005.1 ~ 2010.12. The market risk premium is presented in the 2005 And 8% and the average value of 5.78% (6%) given in the 2008 Technical Assistance Fund Practice Guidelines. Therefore, the CAPM, which is the cost of equity capital, was estimated using the formula: = 4.7% + corporate beta (β) * 6%. Here, Beta utilized the enterprise beta by the agri-food industry. In addition, the recent consideration period is set up to reflect the interest rate of the domestic government bond market in utilizing the risk - free - rate information. The market risk premium is generally estimated from the difference between the long-term stock market return and the risk-free interest rate. The use of long-term data is intended to minimize the estimation error due to the business cycle, . In Korea, since the market risk premium for the domestic market is not periodically announced, the market risk premium used in the existing invention is used as 6%.

(2) The capital cost (Kd) estimating module 123 for the agricultural, forestry, fishery,

Since the cost of other capital is conceptually a financial expense to other capital, it can be estimated using the financial cost on the balance sheet in the financial information DB (121-1). Interest-bearing liabilities are calculated by summing up short-term borrowings, long-term liquidity liabilities, long-term debt, and long-term borrowings on the balance sheet, and the financial expenses are the sum of the interest paid on the income statement and the discount and corporate bonds.

In order to estimate the cost of other capital, we refer to the recent financial information of the agri-food sector classification, the balance sheet and the income statement. Interest-bearing liabilities include short-term borrowings, liquid long-term debts, debts and long- It is estimated by taking into account the payment interest, discount rate, and interest on corporate bonds in the bill. The ratio of ownership is also estimated by taking into account the total assets (total assets) and equity capital (total amount of capital) in the balance sheet.

In one embodiment, referring to the corporate financial information data of the agricultural, forestry and fishery food industry categories of 2009 ~ 2010, which were derived from the existing invention, and the newly developed database of the company's financial information database according to the classification system of the agricultural, forestry and fishery food industry, the balance sheet and the income statement , We estimated the cost of capital for each of the four categories of agriculture, forestry, fisheries, and agriculture.

(3) the weighted average cost of capital (WACC)

Corporate discount rate The structure of the weighted average cost of capital (WACC) is obtained by weighted average of capital cost (ke) and other capital cost (kd). In this case, in case of other capital cost, capital cost is calculated by applying the corporate tax rate to reflect the tax saving effect. In order to calculate the weighted average, the capital ratio and the capital ratio should be calculated. The ratio of equity capital to total assets is derived from the ratio of total capital to total assets.

In the equation below, E is equity capital, D is debt, and V is total capital, which is the sum of equity capital and debt. Thus, E / V becomes the equity ratio, and D / V becomes the debt ratio. And T is the corporation tax rate for calculating the tax expense for taxpayers to reflect the tax savings effect on interest expenses.

In the present invention, the capital adequacy ratio is calculated by dividing the corporate financial information data of the agricultural, forestry and fishery food industry categories of 2009 to 2010, which have been derived from the existing invention, and the company financial information DB 121-1, according to the newly developed improved classification system of food, (Total of capital and liabilities) of the agriculture, forestry, fisheries, and fishery industries in the last 4 years. The corporate tax rate is 22% at the collective tax rate.

Agriculture, forestry, fisheries, and food industries each estimate WACC.

From the financial data of publicly traded companies classified in the agricultural sector classification, the average was calculated from the enterprise beta, other capital cost, and capital ratio data. We then applied "CAPM = 3.64% + corporate beta (β) × 6%" to estimate the cost of equity capital, and the cost of other capital was derived from the corresponding formula from financial data. Finally, the WACC is calculated as [Equity capital cost * Equity capital ratio + Other capital cost * (1- Equity capital ratio)]. As a result, the WACC range of agriculture sector was calculated as 2.21% ~ 8.16%. The WACC estimation results according to the classification of forestry industry in the category of agriculture, forestry and fisheries food industry were 4.47% ~ 7.68%. In the Food, Agriculture, Forestry and Fisheries Food Industry category (2013), the WACC range of the fishery sector was calculated as 4.85% ~ 8.29%. The WACC range of the food industry was calculated as 4.76% ~ 8.29%.

(4) Final discount rate calculation module 127

We refer to the commercialization risk premium database (128) of FIG. 8 as another factor for calculating the final discount rate. The risk premium is estimated through a qualitative evaluation based on the risk-related evaluation items such as commercialization risk premium analysis data as shown in FIG. In FIG. 9, it can be seen that the commercialization risk premium value is calculated as 8.95%.

The technical maturity risk premium, another factor for calculating the final discount rate, is reflected in the maturity risk premium analysis data as shown in FIG. 10 by referring to the maturity risk premium database 129 of FIG. As the technology matures into basic inventions, experiments, prototypes, practical use, and mass production stages, the risk premium decreases.

10A shows that WACC 6.25% + technical commercial risk premium 8.95% + technical maturity risk premium 4.00% = final discount rate 19.20% is calculated.

<First Present Value Calculation Unit 130>

As mentioned earlier, the technology valuation based on the profit approach basically consists of the Discounted Cash Flow (DCF) model, which estimates the value of the technology by estimating the additional cash flow generated by owning or operating the technology (NPV) of the present value based on the cash flow is needed.

11, the first present value calculation unit 130 includes a module 131 for calculating post-tax profit after tax by reference to the cost DB 132 and the cost DB 133, a depreciation cost DB 134, A module 135 for calculating the free cash flow with reference to the capital expenditure DB 136 and the working capital increase and decrease DB 137 and a module 139 for calculating the present value by referring to the current value DB 138 .

The description of the operation of each module is replaced with the UI description in Fig. 11A, which is an embodiment of the present invention. 11A, cash flow estimation periods for 10 years are set to Y, Y + 1, Y + 2, ..., Y + 9, and sales, cost of sales, SG & . The annual operating income by year (A) is calculated by deducting the cost of goods sold and cost (SG & A expenses, corporate tax expense, etc.) from each year's sales, and is calculated by 32, 69, 112, ..., 170 . The cost of goods sold and the cost can be referred to in the cost database 132 and the cost database 133, respectively. Alternatively, instead of referring to the cost DB 133 in another embodiment, the sales cost can be calculated by multiplying the sales cost ratio, the SG & A ratio, and the corporation tax rate, which are fixed constants.

In FIG. 11A, the free cash flow F is calculated by adding the depreciation cost B and the investment amount recovery E to the after-tax operating profit A and subtracting the capital expenditure C and the working capital increase D . In the present embodiment, it can be known that the amount of money to be invested (E) has occurred only after the 10th year (Y + 9), and the amount of free cash flow is calculated as negative (-) until the sixth year have. Capital expenditures are spending on inventions, advertising, and education and training expenses of each company. This capital expenditure is seen as a decision to increase the economic value of the enterprise in the future in the long term and strategic level for each company and it is seen that such expenditure constitutes the invisible and undisclosed value of the intangible asset.

Multiplying the sum of the residual cash flow (F) by the yearly current value (G) yields the present value (H) by year. The suspension factor is obtained by referring to the stored suspension factor DB 138 for each year. Finally, the sum of all the current values for each year is calculated as -335 [million KRW], as shown in the rightmost column of the cash flow chart of FIG. 11A.

<Technical Contribution Acquisition Government (140)>

As shown in FIG. 12, the technology contribution calculating section 140 includes an industrial technology element derivation module 141, an individual technology strength measurement module 143, and a technology contribution calculation module 145. As mentioned earlier, technology contribution is one of the business value adjustment factors.

Measuring the Contribution of Technology by the Existing Technique Element Method Based on the invention method, a method that simultaneously reflects the characteristics of the industry and individual technology characteristics was selected. This method improves the problem of determining the technical contribution according to the 25% rule which is used conventionally and subjective judgment by experts, and makes rational logic to the evaluation result. This is because it is the most reasonable method to determine the contribution of technology by the technology factor method reflecting domestic industry characteristics and individual technology characteristics.

The technical contribution measurement method of the present invention firstly comprises a process of deriving an industrial technology factor that grasps industrial characteristics and an evaluation index to be standardized in order to grasp individual technical characteristics, that is, a process of measuring the individual technical strength. Industrial technology elements in the present invention refer to industrial factors in the conventional technical element method, and individual technical intensities refer to a conventional technology rating.

The derivation of industrial technology factors is carried out by analyzing the financial data of individual companies in each industry sector. Using this objective data, it is possible to create enterprise value (business value) of industrial technology by existing subjective and arbitrary judgment or conventional method This is to ensure greater objectivity than the contribution measurement method. In addition, the individual technical strength measure was derived from the literature survey, and the evaluation score was calculated by assigning a certain weight to each item.

The technology contribution is calculated as the product of the industrial technology factor and the individual technology intensity.

FIG. 13 shows the influence factors for measuring the individual technique strengths. It can be seen that there are a plurality of characteristic items in the two categories of utility strength and competitiveness, and scores are inputted for each item. This score data can be stored in the database 144 shown in Fig.

13A shows a process in which the final technology contribution is calculated based on the score measured from the score data in FIG. In FIG. 13, according to the sum of utility strength and competitiveness characteristics, the individual technical strength ratio was measured as 55.0% and 50.0%, respectively, and thus the individual technical strength was calculated as 52.5%. On the other hand, assuming that the industrial technology factor is 93.0%, the final technology contribution is the industrial technology factor × individual technology strength = 48.8%.

FIG. 13A can be applied to a UI for displaying the final result of a device embodying the present invention (which will be described later).

<Second Present Value Calculation Unit 230>

The second present value calculation unit 230 is a component applied to the technology value evaluation using the royalty subtraction method and includes a sales amount DB 232, a royalty rate DB 233, and a corporate tax cost database 234 And a module 235 for calculating a current value by referring to the current value DB 236.

The description of the operation of each module is replaced with the UI description in Fig. 14A, which is an embodiment of the present invention. In FIG. 14A, the cash flow estimation periods for 10 years are set to Y, Y + 1, Y + 2, ..., Y + 9, and the annual sales revenue, royalty income and corporate tax expense are presented. The annual income after taxation (A) is calculated by multiplying the sales amount of each year by the royalty rate calculated by multiplying the royalty rate by the year, and deducting the corporate tax expense from the royalties income, and by 18, 38, 62, ..., 94 (Unit: million won). The royalty rate and income tax expense can be referenced in the royalty rate DB 233 and the corporate tax expense DB 234, respectively. The yearly current value (H) is calculated by multiplying the yearly royalties income (A) thus calculated by the yearly current asset value (G). The suspension factor is obtained by referring to the stored suspension factor DB 236 for each year. Finally, the sum of all the current values for each year is calculated as 350 [one million KRW], as shown in the rightmost column of the cash flow chart of FIG. 14A.

<Loss Rate Determination Government (250)>

A commonly used method for calculating the royalty rate is to use industry loyalty statistics that correspond to the technology being assessed. These data are the average data of the industry, and it is necessary to make adjustments to select royalties reflecting individual technical characteristics. Based on the results based on the time attribute, the final royalty rate is calculated by referring to the most recent transaction cases and making adjustments to adjust the difference between the finally obtained similar technology transaction case and the evaluation target technology.

The royalty rate calculating unit 250 that implements this process includes a royalty rate deriving module 251, an adjustment factor deriving module 255, and a final royalty rate calculating module 257 as shown in FIG.

Based on the royalty range of the royalty statistics database 253 corresponding to the evaluation target technology, the royalty rate deriving module 251 calculates the royalty rate based on the evaluation of various variables affecting the royalty determination, .

Alternatively, the current value of the operating profit expected to occur during the economic life of the technology can be estimated by applying the customary 25% method or technology contribution with reference to the database, Or estimates a single value, and sets a reasonable royalty rate among the respective obtained royalty rates.

One example of the Loyalty Statistical Data DB 253 is a classification of 'A Agriculture, Forestry and Fishery' and 'B Manufacturing (food, beverage)' in the standard industrial classification into the agricultural, (See Fig. 19). [Table 9] Classification of the Ninth Standard Industrial Classification of Agriculture, Forestry and Fisheries Food Sector Classification Extraction Table). In this way, statistical analysis of the cases of technical transactions excluding the specific values such as royalty free transfer without royalty, and royalties are applied by referring to the fixed technical fee and the royalties royalty by KSIC (by industry) or by industrial technology classification (by technology). Continuously supplement the domestic technology trade case information database constructed through this, and ensure that technology particles and technology providers reach optimal fair trade prices based on sufficient numerical value and clarity.

The resulting royalty rate reflects the adjustment factor derived by the adjustment factor derivation module 255. [ To derive the adjustment factor, refer to the royalty rate influence factor DB (256). The biggest influence on the royalty rate is the anticipated expected profit by applying the technology, which is the level of profit expected to be generated in the market during the economic life of the technology. Estimated expected profit is a factor to overcome the superiority of technology and novelty, but if cost of technology implementation, use and marketing is high, economic evaluation is low and royalty rate is low. We will evaluate the variables that affect the determination of royalty and adjust the royalty range accordingly.

Apply adjustment factor based on royalty rate

As a value adjustment method according to one invention of the present invention, royalties are adjusted through a scoring model utilizing eleven influencing factors affecting the royalty rate. Of the 100 possible impact factors suggested by Tom Arnold and Tim Headley (1997), Georgia Pacific factors, which are currently widely cited, are used as adjustment indexes. The score is reflected in the range of 1 ~ 5 points, and the proportional calculation method is used to convert the score results into the royalty rate. The average score of 1 to 5 points is set as the average standard value of the royalty rate, and the royalty rate is adjusted by comparing proportionally with the score result of the evaluation technique.

Figure 16 shows the weighted average and the weighted average of the technology introduction and technology offerings for each impact factor for the 11 influential factors and the comparative technologies that influence the determination of the royalty rate.

The valuation ratios of technology introduction or technology provision derived from Figure 16 (example of royalties ratio adjustment by royalty rate adjustment) are 1.2912 and 1.3030, respectively, and finally the average royalty value is multiplied by this value ratio, Value.

3% × 1.2912 = 3.87% (technology introduced) and 3% (assuming that the standard royalty rate is 3%), × 1.3030 = 3.91% (technology provided), and the resulting royalty rate is a slight upward revision compared with the 3.6% royalty rate presented in the valuation report. In this case, the maximum (all five points: All 5) and minimum (all one point: All 1) ratio values (or value ratios) are derived from 1.6667 (technology introduction and technology provision) and 0.3333 And the estimated range of the adjusted royalty rate is as shown in Fig.

The final royalty rate estimates were adjusted to 3.87% and 3.91% for technology admission and technology provision, respectively. The best (maximum) or worst (minimum) cases were 5.0% and 1.0% Introduction and technology provision). When the range of the estimation result of the royalty rate is compared with the result value calculated through the analysis of the existing technology transaction case, the range value calculated from the existing case is used when the value falls outside the analyzed range. 3.87% (when introducing technology) and 3.91% (when technology is provided) derived from the above cases are considered to be the result of tolerances that are usually accepted by technology traders.

In addition to calculating the final royalty rate by deriving the adjustment factor by referring to the influence factor DB 256 as described above, the adjustment factor may be calculated using the individual technical characteristic score among the technical contribution contribution methods described above. This was shown in Fig. In the method of FIG. 17A, the utility strength score of 1.1 and the average of 1, which is the competitiveness characteristic score of 1, which is the average of the combination score of the utility strength and competitiveness characteristic, .

On the other hand, as a value adjustment method according to another embodiment of the present invention, the practice in most commerce can be applied to the technical value. This means that 25% of the expected profit obtained by using the technology to be evaluated is set as royalty. In other words, 25% of the expected profit from using the technology to be evaluated is set as royalty.

Therefore, it means an empirical method of evaluating value by taking advantage of a certain contribution to the product created from the invention technology by 25% of the inventor, 25% of the developer, 25% of the manufacturer and 25% of the distributor, and UNIDO (United Nations Industrial Development Organization) , The technology contribution is interpreted from the viewpoint of technology transfer. It is a way to think that both technology providers and technologists should share excess profits generated by technology considering LSLP as a concept of technology transfer pricing.

Most experts agree that LSLP is about 25%, and most cases in US courts see LSLP as 10-30%. Normally, universities do not provide technology to any particle other than the initial-stage invention and patent, and until the inventive technology can usually be manufactured and distributed, specific development work is required. Therefore, universities generally require only 25% of the net profits from inventions.

Based on this correlation method, the royalties rate is determined in the same manner as in FIG. 18 (an example of calculating the royalty rate by the correlation method). In Fig. 18, 25% rule is applied based on operating margin by business type in each industry, suggesting an estimated royalty rate (estimated as 0.0% when the minimum value is negative due to the nature of royalties).

20 illustrates an evaluation result UI screen that is output after completing a technology value evaluation based on a profit approach in the agricultural technology evaluation system for agricultural, forestry and fisheries products according to the present invention.

When the 'CALCULATE' button 1001 is pressed after inputting various factors or variables as described above, the valuation amount of valuation of technical value is displayed in the valuation amount display window 1010. In addition, basic information is displayed on the corresponding display portion, that is, the technical information display portion 1002, the technical classification information display portion 1003, the evaluation information display portion 1004, the technical life (economic life span) display portion 1005, the cash flow information display portion 1006, A technical contribution display section 1007, a discount rate information display section 1008, and a cash flow display section 1009. [ It can be seen that the 'profit approach' 1012 is displayed in the evaluation method column of the evaluation information display unit 1004. The evaluation result can be stored using the storage button 1011. [ The display content of each display section is the same as that described for each component in the foregoing.

FIG. 21 is a diagram illustrating an UI screen as a result of a technology value evaluation based on a royalty offering method in a system according to the present invention. In Figure 20, it is almost similar to the UI screen based on the profit valuation based on the profit approach. The other part is that the royalty compensation subtraction method 1013 is displayed in the evaluation method column of the evaluation information display unit 1004 and the technology value adjustment coefficient display unit 1014 is provided in place of the technology contribution display unit 1007. [ The display content of each display section is the same as that described for each component in the foregoing.

Claims (9)

A profit and loss approach technology valuation unit 200 for evaluating a technology value based on a profit approach, a royalty evaluation method for evaluating a technology value based on a royalties deduction method, 100 and the evaluation method selecting unit 300 for selecting a desired evaluation method among the royalties subtraction method technical value evaluating unit 200 and evaluating the technical value of the agricultural, forestry and fishery products by selectively applying the profit approach and the royalty deduction method Lt; / RTI &gt;
The revenue approach technology value evaluating unit 100
A residual life calculation module 111 for calculating the remaining life of the cited patent with reference to the TCT index database (DB) 112, and an influence factor affecting the life of the technology by referring to the technology life influence factor database 114 An economic life span calculating module 115 for calculating an economic life span of the technology, and finally an economically effective life span calculating module 117 for calculating the economical effective life span of the technology An economically effective service life calculation unit 110;
In order to utilize the capital asset pricing model, we use industry-specific equity capital, which estimates equity capital cost as a basic factor, such as risk-free rate, enterprise systematic risk beta (β) (Kd) estimation module (121) for estimating the capital cost of another person, which is a financial cost for the other person's capital, using the financial cost on the balance sheet included in the financial information, (WACC) estimation module 125 that obtains a corporate discount rate weighted average capital cost (WACC) as a weighted average of the capital cost (ke) and the other capital cost (kd), and the technology commercialization risk premium data and technology A discount rate calculation unit 120 for calculating a final discount rate by adding maturity risk premium data to the corporate discount rate weighted average capital cost (WACC);
A depreciation cost DB 134, a capital expenditure DB 136, an operating capital increase / decrease DB 137, and an operating profit / loss ratio DB 137. The module 131 calculates a yearly after- A first present value calculation unit 130 including a module 135 for calculating a free cash flow with reference to the present value calculation DB 138 and a module 139 for calculating a present value with reference to the current value calculation DB 138; And
An industrial technology element deriving module 141 for analyzing financial data of individual companies in each industry to derive an industrial technology factor and an evaluation score for each individual technology A technical contribution calculation section 140 that includes a individual technical strength measurement module 143 for measuring the strength and a technical contribution calculation module 145 for calculating a technical contribution degree by multiplying the thus derived technical technical element and the individual technical strength Include;
The royalties subtraction technique value evaluation unit 200
An economic useful life calculation unit 110 included in the profit approach technology valuation unit 100;
A discount rate calculation unit 120 included in the profit approach value evaluation unit 100;
A module 231 for calculating annual after-tax royalties by referring to the sales DB 232, the royalty rate DB 233, and the corporate tax expense DB 234, and a current value DB 236 A second present value calculating part 230 including a module 235 for calculating a second present value; And
Based on the royalty rate range of the Loyalty Statistical Data DB (253) corresponding to the evaluation target technology, a royalty rate deriving module for calculating a royalty range based on an evaluation of various variables affecting the royalty determination, An adjustment factor derivation module 255 for deriving an adjustment factor with reference to the royalty rate influence factor DB 256 and a module for calculating the final royalty rate using the adjustment factor 257), wherein the royalty rate calculation unit (250)
The economically effective service life calculation unit 110
The remaining life calculation module 111 selects a median value of the TCT index for the target technology field by referring to the TCT index DB 112 including the TCT index corresponding to the IPC subclass related to the agricultural, forestry, and fisheries food classified according to the IPC, Means for calculating a remaining lifetime by subtracting the elapsed years since the patent registration from the median of the selected TCT index,
The technology life span influencing factor evaluation module 113 refers to the technology life span influencing factor evaluation data including the technology factor and the market factor from the technology life span influencer DB 114 to evaluate an influence factor affecting the technology life span / RTI &gt;
The economic life span calculation module 115 uses the residual life span calculated in the remaining life span calculation module 111 and the influence factor evaluation result of the technology life span factor evaluation module 113

Lt; RTI ID = 0.0 &gt; equation, &lt; / RTI &gt;
The economically useful life calculation module 117 compares the economic life span of the technology calculated by the economic life span calculation module 115 with the legal protection period of the intellectual property right and calculates an effective life span to be finally applied to the profit generation period estimation , 1) the economic life span of the technology is determined as the effective life span if the economic life span of the technology is smaller than the legal protection span, and 2) the legal protection And means for determining the period as the effective life,
The technical commercialization risk premium data of the discount rate calculation unit 120 is the technical commercial risk premium data analyzed by the technical risk and market and business risk premium analysis evaluation items in Table 1 below,
The individual technical strength evaluation items referred to by the individual technical strength measurement module 143 of the technical contribution degree calculating section 140 include utility strength and competitiveness characteristics, and the average values of the utility strength and the competitive nature are referred to as individual technical strength values And the utility strength and the competitiveness characteristics are constituted by the technical contribution contribution factor evaluation items shown in the following Table 2,
The adjustment factor derivation module 255 of the royalty rate calculation module 250 further includes means for deriving an average of the combined scores of the strength of the utility strength and the competitive characteristics serving as the index of the individual technical strength as the adjustment factor,
The attribution that affects the determination of the royalty rate referred to by the royalty rate influence factor DB 256 is made up of the attributes having the technology introduction and the technology providing weight values described in Table 3 below. Valuation system:
[Table 1]

,
[Table 2]

, And
[Table 3]

. delete The method according to claim 1, wherein the discount rate calculation unit (120)
The other party capital cost (Kd) estimation module 123

The cost of capital,
The weighted average cost of capital (WACC) estimation module 125

(Where E is the equity capital, D is the debt, V is the total capital that is the sum of the equity capital and the debt, so E / V is the equity ratio, D / V is the debt ratio, The tax rate of corporate corporation to calculate the tax cost of taxation to reflect the tax reduction effect on interest cost). The method according to claim 1, wherein the first present value calculation unit (130)
The method of calculating post-tax operating profit for each year by subtracting the cost of sales and cost from the sales of each year during the cash flow estimation period, subtracting the capital expenditure and the working capital increase / A means for calculating the free cash flow, and a means for calculating the present value of each year by multiplying the calculated free cash flow amount by the current value of each year. delete The method according to claim 1, wherein the second present value calculation unit (230)
A method for calculating royalty income after each year by deducting income tax expense from royalty income calculated by multiplying the revenue of each year during the cash flow estimation period by the annual royalty rate, And further calculating means for calculating the present value by year. The system of claim 1, wherein the royalty rate derivation module (251) of the royalty rate calculation module (250) derives the present value of the operating profit expected to occur during the economic life of the technology by applying a custom 25% The system for evaluating the value of food in agriculture, forestry and fisheries. delete An agricultural, forestry, aquatic, and marine food technology valuation system according to any one of claims 1, 3, 4, 6, 7, A computer-readable recording medium storing a program.

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