Evaluating Determinant Priority of License Fee in Biotech Industry
AbstractThis research aimed to build a solid basis through analytic hierarchy process (AHP) analysis to develop a reliable and practical valuation model that reflects the characteristics of the biotech industry and propose a reference formula to estimate the license fee by drug class for potential business transactions. In this study, we reviewed 135 related studies and found 167 related determinants. We surveyed 25 or more specialists in the biopharmaceutical industries. The survey group consisted of National Research Institutes (‘Group 1’), Companies (‘Group 2’), and Government Agencies–Universities (‘Group 3’). The average of the total group and Group 3 showed the same tendency at a Level 3 ranking, where the priority in determining the license fee was arranged in the order of ‘the market factor, the technology factor, the financial factor, and the environmental factor’ in light of the factors, and ‘patent characteristics, licensee characteristics, and licensor characteristics’ for the characteristics. We noted that the patent characteristics were primarily significant in technology transactions and their contract fee in the groups (Total, Group 2 and Group 3), followed by licensee characteristics. In terms of the in-depth index, we noted that the development phase and attrition rate, intellectual property tradability, and licensee licensing experience, followed by quality of technology, were the most influential determinants. View Full-Text
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Lee, J.H.; Sung, T.-E.; Kim, E.; Shin, K. Evaluating Determinant Priority of License Fee in Biotech Industry. J. Open Innov. Technol. Mark. Complex. 2018, 4, 30.
Lee JH, Sung T-E, Kim E, Shin K. Evaluating Determinant Priority of License Fee in Biotech Industry. Journal of Open Innovation: Technology, Market, and Complexity. 2018; 4(3):30.Chicago/Turabian Style
Lee, Jeong H.; Sung, Tae-Eung; Kim, Eungdo; Shin, Kwangsoo. 2018. "Evaluating Determinant Priority of License Fee in Biotech Industry." J. Open Innov. Technol. Mark. Complex. 4, no. 3: 30.
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