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Intellectual property and the valuation of biotechnology

Author

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  • Elli Malki

    (Financial-Tip)

Abstract

The role of intellectual property (IP) as an important value determinant is widely recognized. This article tries to quantify the role of IP in companies valuation by comparing a sample of biotechnology companies (46 companies included in the Genetic Engineering News Index:GEN-Dex) to the companies included in the Dow Jones Index. Conventional wisdom suggests that the biotechnology sector derives more significant portion of its value from IP. The article proposes a new measure for the significance of IP in the determination of value, which is named the IP Intensity (IPI). Comparison of the distribution of IPI in the two samples demonstrates that this measure is a useful tool for the analysis of value determination.

Suggested Citation

  • Elli Malki, 1997. "Intellectual property and the valuation of biotechnology," Finance 9709002, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpfi:9709002
    Note: Type of Document - Word; prepared on IBM PC ; to print on HP;
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    Citations

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    Cited by:

    1. Christian Bessy, 2019. "The transformations of conventions for patent use and the role of legal intermediaries," Working Papers halshs-01872163, HAL.
    2. Elli Malki, 1997. "Intellectual Property Intensity (IPI) and the Value-Growth Effect," Finance 9711002, University Library of Munich, Germany.

    More about this item

    Keywords

    valuation intellectual property biotechnology value;

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law
    • L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology; Plastics
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital

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