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Chapter 4
PATENT PORTFOLIO
THERMODYNAMICS
4.1 PATENT VALUE
One way patents are measured is by their “value.” Sometimes a technology
business or individuals (e.g., investors) need to know what a patent is actually
worth, such as when the patent is oered for sale or for licensing. Accountants
and bankers have come up with all kinds of schemes for valuing patents. ese
schemes all share a common feature: uncertainty. e process of valuing a
patent is inherently uncertain because a patent’s value depends on many factors.
Forexample, it can be dicult to know how easily a patent might be avoided
(i.e., designed around) or whether there is i