Fuzzy real option analysis in patent related decision making and patent valuation

The shift towards a knowledge-based economy has inevitably prompted the evolution of patent exploitation. Nowadays, patent is more than just a prevention tool for a company to block its competitors from developing rival technologies, but lies at the very heart of its strategy for value creation and is therefore strategically exploited for economic pro t and competitive advantage. Along with the evolution of patent exploitation, the demand for reliable and systematic patent valuation has also reached an unprecedented level. However, most of the quantitative approaches in use to assess patent could arguably fall into four categories and they are based solely on the conventional discounted cash flow analysis, whose usability and reliability in the context of patent valuation are greatly limited by five practical issues: the market illiquidity, the poor data availability, discriminatory cash-flow estimations, and its incapability to account for changing risk and managerial flexibility. This dissertation attempts to overcome these impeding barriers by rationalizing the use of two techniques, namely fuzzy set theory (aiming at the first three issues) and real option analysis (aiming at the last two). It commences with an investigation into the nature of the uncertainties inherent in patent cash flow estimation and claims that two levels of uncertainties must be properly accounted for. Further investigation reveals that both levels of uncertainties fall under the categorization of subjective uncertainty, which differs from objective uncertainty originating from inherent randomness in that uncertainties labelled as subjective are highly related to the behavioural aspects of decision making and are usually witnessed whenever human judgement, evaluation or reasoning is crucial to the system under consideration and there exists a lack of complete knowledge on its variables. Having clarified their nature, the application of fuzzy set theory in modelling patent-related uncertain quantities is effortlessly justified. The application of real option analysis to patent valuation is prompted by the fact that both patent application process and the subsequent patent exploitation (or commercialization) are subject to a wide range of decisions at multiple successive stages. In other words, both patent applicants and patentees are faced with a large variety of courses of action as to how their patent applications and granted patents can be managed. Since they have the right to run their projects actively, this flexibility has value and thus must be properly accounted for. Accordingly, an explicit identification of the types of managerial flexibility inherent in patent-related decision making problems and in patent valuation, and a discussion on how they could be interpreted in terms of real options are provided in this dissertation. Additionally, the use of the proposed techniques in practical applications is demonstrated by three fuzzy real option analysis based models. In particular, the pay-of method and the extended fuzzy Black-Scholes model are employed to investigate the profitability of a patent application project for a new process for the preparation of a gypsum-fibre composite and to justify the subsequent patent commercialization decision, respectively; a fuzzy binomial model is designed to reveal the economic potential of a patent licensing opportunity.

Voiko totuutta tavoittaa? : direct cinema -tyylisuunnan käyttö dokumenttielokuvassa

The subject of this study is the use of direct cinema style in documentary film. The main purpose of this thesis was to the research the ways in which direct cinema style attempts to show and achieve truth in documentary films. The following questions were posed: Is it possible to depict reality in a documentary film; how does the choice of using this style affect the final documentary? The essential purpose of this study was to try to see whether the direct cinema style works when trying to achieve truth in a documentary film. This work consints of two elements, the theoretical part and the short documentary. The theoretical part deals with the history, the truth, and the direct cinema- style in documentaries. The theoretical information of direct cinema has been used when making the short documentary. In the documentary Tuloaula 2 I have studied the way in which using direct cinema -style works in practise. The documentary has followed as strictly as possible the direct cinema style. I was the director, the cameraman and the editor of my documentary film. In the documentary film Tuloaula 2 it appeared that the direct cinema style works best when filming everyday life. By using this style it is easy for the director to observe and leave his own persona in the background. The strength in using the direct cinema style is that it enables the viewer to build his/her own impression on the subject. Even though the direct cinema style aims to achieve objectivity the director has to make numerous subjective choices during both the filming and the editing process. These subjective choices automatically effect the "truth" of the documentary film. The difficulty in a direct cinema style is the large amount of material. This often leads to a long editing phase, which is not often possible in the busy production schedules. The direct cinema style is not at its best when shooting people who are passive because their attention often focuses too much on the camera. In general, the best way to make a documentary film would be to use many documentary styles in one film and not to srictly concentrate on only one style.

Uusien tuotantotapojen haasteet : esimerkkitapauksina mobiili-TV ja monimediaisuus YLE Uutisissa

Opinnäytetyön tavoitteena oli selvittää, millaisia ovat uusien tuotantotapojen haasteet uudenlaiselle sisällöntuotannolle ja uutisympäristölle. Monimediaisen tuotannon esimerkkitapauksiksi rajattiin mobiili-TV ja YLE Uutiset. Mobiili-TV:n tutkimusta varten kootulle testiryhmälle tehtiin subjektiivisen laadun kokemista mittaava MOS-testi (Mean Opinion Score), jossa selvitettiin testattavien mielipiteitä matkapuhelimen kautta esitettyjen videotiedostojen kuvan- ja äänenlaadusta sekä eri pakkaustapojen käyttökelpoisuudesta mobiili-TV:ssä. Testillä haettiin esille myös sisällöllisesti sopiva ja käyttökelpoinen suhde, jolla mobiili-TV:n lähetteen kokonaiskaistanleveys olisi kuvan ja äänen välillä hyvä jakaa. Lisäksi samalla testiryhmällä tutkittiin, mitä mobiili-TV:stä yleensä tiedetään, millaisena palvelu koetaan ja millaista sisältöä siihen kaivattaisiin. Tämän kuluttajatutkimuksen mukaan mobiili-TV:hen soveltuvimmiksi sisältötyypeiksi koettiin uutiset, ajankohtaisohjelmat ja osin urheilu. Mobiili-TV:ssä ei ole vielä paljoakaan tarjontaa, joten väline on suurelle yleisölle oikeastaan täysin tuntematon. Testiryhmän mielestä se voisi kuitenkin joissakin tilanteissa korvata tai täydentää perinteisen TV-vastaanottimen käyttöä. Mobiili-TV:n sisältötyyppitutkimuksen lisäksi tutkittiin YLE Uutisten sisällöntuotantomenettelyjä. Teemahaastattelujen avulla selvitettiin, millainen on toimituksen tuotantotapa, miten ylivälineellinen sisällöntuotanto siellä mahdollisesti toteutuu, millainen on sen mahdollinen mobiili-TV-palvelu ja miten siellä suhtaudutaan niin sanottuun kansalaisjournalismiin. Haastattelujen johtopäätöksinä YLE Uutisissa ei vielä toteudu aito ylivälineellinen tuotanto, mutta merkkejä muutoksesta on näkyvissä. Kansalaisjournalismin nousu on havaittu, mutta käytännön vastauksia siihen ei vielä ole. YLE Uutisten nykyinen 3G-matkapuhelimillakin käytettävä internet-TV-palvelu on toteutettu suoratoistopalveluna (engl. streaming), eikä vielä DVB-H-verkkotekniikkaa hyödyntäen, joten se on teknisesti melko matalalaatuista. Esimerkkinä toteutuneesta ylivälineellisestä tuotannosta on opinnäytetyössä esitelty Kansainvälisen Jean Sibelius -viulukilpailun monimediainen uutispalvelu. Lopuksi esitetään tutkimuksen pohjalta löytyneitä mahdollisuuksia, jotka tukevat YLE Uutisten tuotannon järjestämistä ylivälineelliseksi ja kansalaisten sisällöntuotantoa. aktivoivaksi.

Euroopan ihmisoikeustuomioistuimen (EIT) tuomio 23.9.1998 : tapaus A. v. Yhdistynyt Kuningaskunta

Strasbourg, 23 September 1998, Judgement delivered by a Chamber (100/1997/884/1096)