Research On The Value Measurement Of Chinese Enterprises' Patent Portfolio From The Perspective Of Intellectual Asset Valu

Patents are important intellectual assets of enterprises,and their innovation ability is reflected in all the patents they possess.The collection of these patents can be called a patent portfolio.Patent portfolio is a strategic collection of patents that companies combine to achieve competitive advantage,with distinct differences and closely related patents.At present,single patent competitions have shifted to patent portfolio competition,where the collection of multiple patents can often bring more benefits to enterprises than individual patents can generate through synergies between patents,"patent fences",patent authorizations and other means.The competitive advantage of patent portfolios has far exceeded that of single patents.In the face of the increasingly frequent market environment of patent transactions,capital contributions,pledges,and financing,it is particularly important to objectively and accurately evaluate the value of a company’s patent portfolio.Taking Chinese manufacturing listed companies as the research object,this paper uses the patent panel data of 191 enterprises from 2015 to 2020 to achieve a reasonable measurement of the value of enterprise patent portfolio using the knowledge asset market model.Firstly,representative patent portfolio value evaluation indicators are selected,and from the perspective of structural analysis,the patent portfolio value measurement indicators are grouped according to the authorized region into domestic and other groups;Then,within each group,the indicators are divided into three sub groups based on evaluation perspective: external evaluation group,applicant evaluation group,and self owned attribute evaluation group.After simplifying the grouping structure of various indicators using the group index lasso method,different grouping items of patent portfolios are introduced into the knowledge asset market model.The measurement expression of patent portfolio value is determined using data from Chinese manufacturing listed companies,achieving effective measurement of enterprise patent portfolio value.Subsequently,an example analysis was conducted on the measurement of the value of enterprise patent portfolios and a single patent in the portfolio,and a comparative analysis was conducted with other methods to measure the value of patent portfolios,further testing the effectiveness of the measurement formula.Through theoretical analysis and empirical analysis,the main conclusions and achievements of the paper are as follows: firstly,the complex relationship between patents can be reflected in the quantitative relationship between patent measurement indicators.Therefore,the relationship between patents can be reflected by studying the structure of patent portfolio indicators.It is necessary to introduce a structural analysis perspective when measuring.Second,due to the complex nonlinear relationship between the internal indicators of patent portfolio and its subgroups,the use of group index lasso method can simplify the indicator structure and effectively solve the problem of model overfitting caused by too many variables.Third,based on the principle that the capital market can price the value of intangible assets,the market value of patent portfolio can be reasonably separated by using the knowledge asset model,and the market value of patent portfolio can be accurately measured.This paper proposes a method for measuring the value of patent portfolios,which includes innovation in the perspective of structural analysis and innovation in the application of research methods using knowledge asset market models for analysis.This method expands the theoretical foundation of patent portfolio value evaluation and contributes to solving the problem of patent portfolio value measurement.It provides corresponding suggestions for enterprises to establish patent portfolio strategic awareness,attach importance to patent portfolio layout,and improve the construction of patent portfolio related supporting systems.It also provides data support for the country to formulate appropriate industrial technology policies and helps to improve resource allocation efficiency.