Challenges and factors affecting patent valuation: The case of Thailand 4.0

Abstract

Thailand 4.0 is a challenging model for helping to transform Thailand into a value-based economy; an economy driven by science, technology, and innovation (STI). Under this policy, the Thai government has placed importance on promoting intellectual property (IP) commercialization. This study explores the challenges and factors affecting patent valuation in the context of Thailand. In particular, it discusses the value factors used by Thai experts and considers their effect on patent values, demonstrating the differences in opinions between Thai experts and the literature review. Some key factors from the literature review have a positive correlation with patent value, whereas just a few Thai experts mention this aspect. The findings indicate that the “technology readiness level” and “profile/size of company” are the factors most mentioned by Thai experts. Most of the factors considered to be common relate to buyers and sellers. Related issues that experts need to address such as “inventor”, in the Thai context, may be different from others, especially for developed countries.