The Study On The Evaluation Of Trademark Of Company Based On Real Option

In knowledge-economics time nowadays, intellectual property has become important and valuable element of production and trademark as a significant part of intellectual property has appeared frequently in trade market. With the increasing of trademark transaction and internationalization of economy, trademark evaluation is rising as well. How to choose reasonable methods to assess the value of trademark has become an important issue. By reading widely literatures and documents, the author analyze that the evaluation methods mainly include present value of earning, replacement cost method and relative market value method. In domestic, present value of earning method is widely used, however, to extend, they exist some limitations. By having a comparative study between them, the author thinks that the evaluation models is single and they lack qualitative analysis, which causes less basis for quantitative analysis. Additionally, these approaches do not consider the changeable and complicated character of trademark assessment, ignoring the value uncertainty creates.Aiming to the problems above, the paper put forwards real option which provides a new approach and viewpoint for trademark evaluation. With the option theory and its pricing model matured and perfected, people start to apply the option theory in investment decision and evaluation. The real option can catch the value of chance and grasp the value that uncertainty and flexibility bring about. Moreover, the method is a breakthrough to the traditional methods; meanwhile, it strengthens the reasonableness of decision. The paper analyzes the option trait of trademark and has a study about feasible application of real option in trademark assessment. By comparing the traditional methods and real option, the paper concludes in the superiorities of real option. So that it can improve the scientific and objectivity of evaluation of trademark, achieve benefit maximization of trademark, and promote development of intellectual property career.