Patent valuation by crowdsourcing

Abstract

There is a growing need to assess the value of patents, which represents intellectual properties in the age of knowledge economy. For instance, invigorating IP Finance assumes the assessment of patent values. Likewise, when business entities map out patent strategies, it is essential to assess the value of patents. In this context, this paper reviews a range of established methods of assessing the value of patents and proposes a method of assessing patent values using crowdsourcing taking the advantage of the internet era.