5. Determining the future operating period

The period taken into account in a valuation is generally quite long, especially when launching an innovative new product, as it takes some time for the technology to reach maturity on the market, and for initial investments to be amortized.

However, the longer the period of future operation, the greater the uncertainty, and this uncertainty needs to be taken into account in terms of the risk of technology obsolescence, the risk of competition from another more innovative or economical technology, market developments, etc. The longer the period of future operation, the greater the uncertainty, and this uncertainty needs to be taken into account in terms of the risk of technology obsolescence, the risk of competition from another more innovative or economical technology, market developments, etc.

When it comes to patenting inventions, the...