Georgia Innovation and Technology Agency (GITA) IP Valuation Services

Georgia Innovation and Technology Agency (GITA)

TIV’s experts supported the Georgia Innovation and Technology Agency (GITA) in monetizing their Intellectual Property (IP). The agency, created through the World Bank’s GENIE program, is the leading innovation and technology commercialization entity in the Republic of Georgia. The IP valuation exercise was conducted under the auspices of the Technology Transfer Pilot Program (TTPP) financed by the European Commission.

The methodology included a review of granted patents for claims and an IP landscape analysis. Material Transfer Agreements (MTA) with prospective licensees were also scrutinized. TIV further identified avenues for licensing and assessed numerous approaches to valuation (such as income method, cost method for various commercialization routes such as licensing and production). Multiple complex scenarios were built to cover a wide array of possibilities, such as exclusive versus non-exclusive licenses, sublicensing, production, varying license duration and terms (upfront premium), and patent protection in different territories.

The model's components were multifaceted, extending from market analysis of relevant technologies in commercial and research context to royalty rate analysis to domestic vs. foreign production approaches. In addition, a series of legal scenarios (shelving of technology, potential litigation, etc.) were simulated using advanced statistical and probabilistic techniques. The numbers from these models provided an actuarial background towards maximized protection, value extraction of GITA’s IP, and hedging risks for GITA.

With this backdrop of information, TIV will continue to enable GITA towards future tech transfer and commercialization efforts as the country continues its developmental ascent and transforms itself into an innovation economy.