"THE ROLE OF PATENT VALUATION IN NEW TECHNOLOGY COMMERCIALIZATION IN VIETNAM: A CASE STUDY OF REMOTE WASTE TREATMENT TECHNOLOGY"
Vol.11, No. 1 NTUT J. of Intell. Porp. L. & Mgmt, 87 - 105 (2022), ISSN 2226-6771
Abstract: Patent valuation is not a novel matter in developed countries, but still a challenging task in
developing countries like Vietnam, due to the nascent practice and inadequate regulation. In the US,
patent holders and patentees don’t rely mainly on patent valuations as a basis for license deals. A
“pre-negotiation valuation” approach leading to a mutually designed “value capture/risk-sharing
mechanism” (i.e., a license agreement) is the preferred path for commercializing new technologies.
However, the difficulty with the valuation of intellectual property assets is one of the many obstacles
to the commercialization of patents, especially those domestically developed by Vietnamese entities.
To complete this study, the authors have combined data collection and analysis. Data collection
methods included written reflection and secondary source verification. The study has also pursued
case study method, conducted by the authors regarding the real invention of Inventor Lai Minh Chuc.
This article uses a normative legal approach to address new issues of intellectual property including
patent valuation.
This paper describes the current practice in patent valuation and commercialization in Vietnam
with a case study of remote waste treatment technology. This case study illustrates that in the current
context of Vietnam, the valuation of a patent is still hard for the potential purchasers to accept, so the
price should be adjusted flexibly through the negotiation, rather than a valuer providing a fixed
valuation. Based on this case study, recommendations will be provided to improve the legal
framework for patent valuation and commercialization.
Keywords: Patent valuation, remote waste treatment, technology transfer, commercialization.