Developing a model for technology commercialising and pricing of petrochemical products
by Reza Bandarian, Ahmad Mousaei, Abbasali Ghadirian, Maham Tabatabaei
International Journal of Technology, Policy and Management (IJTPM), Vol. 8, No. 3, 2008

Abstract: The Research Institute of Petroleum Industry (RIPI) has a mission to bring ideas to market in terms of developing new technologies and new products. Commercialisation is one of the critical stages in this process. This paper presents a comprehensive framework of new technologies' commercialisation in the petroleum industry that can be used with some modification for other industries. The framework starts by defining the strategy and leads to the commercialisation of the know-how that is developed. We developed a systematic real option-based model for the valuation and pricing of new technology. The model examines three pricing scenarios (optimistic, pessimistic and actual) for selling technology. We validated the pricing model by the historical data of some petrochemical products of RIPI.

Online publication date: Wed, 26-Mar-2008

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