Consequently, the use of hedonic price estimation is a conceptual breakthrough in the calculation of reasonable royalties for patent infringement, both for SEPs subject to a RAND or FRAND commitment and for patents that are not declared essential to any standard.
When running this type of model, if non-environmental factors are controlled for (held steady), any remaining discrepancies in price will represent differences in the good's external surroundings. The results of the projfrct, while relating to technical issues, can be expressed intuitively. Hedonic price estimation can also inform the calculation of a reasonable royalty in conventional patent litigation that does not involve standard-essential patents. The hedonic pricing model is used to estimate the extent to which each factor affects the market price of the property. If asked or required to set a specific RAND or FRAND rate for a specific portfolio of SEPs, a court or arbitral panel could take our analysis one step further, by determining where within the RAND or FRAND bargaining range a bilaterally negotiated royalty between the parties would most likely fall. The model assumes equilibrium throughout the property market and no interrelationship between the price of.
#Hedonic model license
When implemented in an appropriate and thoughtful way, hedonic price analysis provides an expert economic witness-and, ultimately, the finder of fact-with a reliable methodology to determine whether a given license offer satisfies the reasonableness requirement of a RAND or FRAND commitment. The objective of this paper is to empirically compare the predictive power of the hedonic model with an artificial neural network model on house price. Hedonic analysis is not without its critics. Price Index variation is explained by this multiple regression model. The common additive form of the hedonic regression model is the most appropriate econometric model to meet that directive. hedonic house price model derived from multiple regression analysis is developed. D-Link to disaggregate the value of having a standard of any sort from the incremental value of the chosen standard, and then to disaggregate further the incremental contribution that a given SEP or portfolio of SEPs makes to the overall value of the technologies that allow the chosen standard to operate. The hedonic modeling exercise is intended to demonstrate potential for and current shortcomings in using this type of model to facilitate price reporting. Hedonic price analysis provides a scientifically rigorous means to satisfy the Federal Circuit’s directive in Ericsson v. Our methodology is equally applicable to the calculation of fair, reasonable, and nondiscriminatory (FRAND) royalties for SEPs. In this article, we use hedonic prices to estimate the permissible range for a reasonable royalty for a standard-essential patent (SEP) subject to its owner’s commitment to offer to license the patent on reasonable and nondiscriminatory (RAND) terms. A hedonic model explains a good’s price in terms of its characteristics.
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