Intellectual Property Valuation Decision Support System for University Research Output: A Conceptual Model

Abstract

Commercializing university research outputs or intellectual property is an imperative facet in the National Economic Model of the 10th Malaysian Plan (2011-2015) whereby innovation-based economy is the vehicle identified to drive Malaysia into becoming a high-income nation. A vital aspect of this innovation-based economy is Intellectual Property (IP) and its strategic management in the preliminary commercialization phase. One of the critical components of strategic management of IP is the valuation process. In order to capture and capitalize the IP resulting from university research, valuing the IP becomes a significant juncture on the road to exploitation and commercialization. This paper explores the aspects of IP valuation practices among Malaysian universities. It is found that IP valuation generally was done by external consultants or committees. This paper suggests that technology development provides an opportunity for enabling the researchers themselves with the capability to do the IP valuation.