The economic evaluation of an early-stage invention
Evaluating an early-stage invention is really a challenging task.
While cost, Market, and Discounted Cash Flow (DCF) methods are usually used in the economic evaluation of patented products, they are not suitable to estimate the value of a new technology or an early-stage invention.
Real Options methods (compound options, hybrid real options) or a combination with other methods (Fuzzy Set Theory, Scenario Planning, Analytic Hierarchy Process or Game Theory) could be a better solution. [4]