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Negotiating Royalties ‐Commercializing Intellectual Property Assets
Workshop on Negotiating International R&D and Technology Transfer Contracts –Intellectual Property Rights, Valuation and Dispute Resolution
AlicanteAlicante‐‐Spain, March 2011Spain, March 2011
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Michael R. TadrosBOTIN FOUNDATION
[email protected]://www.fundacionmbotin.org
AlicanteAlicante‐‐Spain, March 2011Spain, March 2011
Jose Pablo ZamoranoCSIC
[email protected]://www.csic.es
Colm AhernELZABURU
[email protected]://www.elzaburu.es
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SUPPORT MECHANISMS
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THE BOTIN FOUNDATION
FOUNDED IN
1964 BY MARCELINO BOTIN SANZ DE SAUTUOLA & CARMEN YLLERA.
PATRONAGE OF THE BOTIN FAMILY
CONTRIBUTE TO & SUPPORT
LONG‐TERM NATIONAL INITIATIVES:
‐EDUCATION‐SCIENCE‐RURAL DEVELOPMENT‐ARTS/MUSIC
SCIENCE DEPARTMENT PROGRAMS:TECHNOLOGY TRANSFER PROGRAMBOTIN INVESTIGATORS PROGRAM“MIND THE GAP”
PROGRAM
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TECHNOLOGY TRANSFER PROGRAM
Research Valorization Commercialization
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TECHNOLOGY TRANSFER PROGRAM
Research Valorization Commercialization
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TECHNOLOGY TRANSFER PROGRAM
Research Valorization Commercialization
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Research Valorization Commercialization
TECHNOLOGY TRANSFER PROGRAM
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INTEGRAL TECHNOLOGY TRANSFER SUPPORTINTEGRAL TECHNOLOGY TRANSFER
SUPPORT
Research Valorization Commercialization
GENERATE IDEAS
MONITOR R&D
FUNDS
Evaluate Appropriate
protection of IP
Support IP Management
Legal Support
Evaluate and study Market
Technology Offer, Commercialization,
Spin‐Off
Evaluate Ideas
“Connecting science, business, and capital to improve commercialization process”
TECHNOLOGY TRANSFER PROGRAM
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Research Valorization Commercialization
Evaluate Appropriate
protection of IP
Legal Support
Evaluate and study Market
TECHNOLOGY TRANSFER PROGRAM
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Research Valorization Commercialization
Technology Offer, Commercialization,
Spin‐Off
TECHNOLOGY TRANSFER PROGRAM
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TECHNOLOGY TRANSFER PROGRAM
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WHAT’S NEXT?
“Continuity” “Progression”
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QUANTITATIVE METHODS
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• Cost
• Price
• Value
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www.epo.org
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Cost method
• Look back• Development cost • Accountants
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Cost method• Historic data• Reproduce• Substitute
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• Transparency
• Cost ~ Value ??• Value > Cost ??• Value ~ t ??• Include
exclude ??
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Income method
• Look forward• Discounted cash flow• Net present value
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www.epo.org
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rNPV
• Pharmaceutical• Biotechnology• Probability ~ Phase
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90% OK
9% NOK9%
78% OK
22% NOK20%
56% OK
44% NOK31%
68% OK
32% NOK13%
90% OK
10% NOK3%
24%
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25 % rule
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• Business plan• Established method• Straightforward
• Uncertainty: € flows/ Interest• Little flexibility• Indirect
benefits
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Market method• Look around• Comparable price• Comparable
royalty
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Market method
• Internal information • External information
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5 % rule
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• Availability• Objectivity
• Same?• Circumstances • Sectors
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QUALITATIVE METHODS
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www.epo.org
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IPscore – DPTO/EPO
• Legal status• Technology• Market• Finance• Strategy
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Legal status
• Grant• Scope• Invalidity durability• Infringement
• Tracking• Defence
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Technology
• Substitute• Copy• Tested• Manufacturing
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Market
• Competitive situation• Growth• Life• Licenses
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Finance
• $ R&D• $ Manufacturing• Income
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Strategy
• Defensive• Short term• Single product
• Offensive• Long term• Secure market
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www.epo.org
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www.epo.org
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• Simple
• Experience• Information
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Michael R. TadrosBOTIN FOUNDATION
[email protected]
http://www.fundacionmbotin.org
Jose Pablo ZamoranoCSIC
[email protected]://www.csic.es
Colm AhernELZABURU
[email protected]://www.elzaburu.es
