Crop variety valuation for technology transfer through licensing: a systematic review

Poor valuation of crop varieties developed by research organisations and universities lead to windfall gains or abnormal losses in economic returns for different stakeholders in the tech-commercialisation chain. Most institutes follow thumb rules such as fixed rates based on crop type or fixed percentage of net present value to determine license fees. Hence, there is a paucity of scientific basis to validate the price or actual value of the crop variety developed through research. The research to develop a standardised framework for crop varieties valuation in the public system is also in its initial stage. This study aims to identify suitable techniques for the valuation of crop varieties through a systematic review of the extant literature. We studied the trends in the publications and the major approaches used in the literature. We identified the best-fit technology valuation methodologies for crop varieties by comparing the factors under consideration for valuation. A framework for crop variety valuation was developed by considering its variables and appropriate techniques to be applied. The study is the first of its kind and provides a critical review for developing crop variety valuation protocols by future researchers and university tech transfer offices for better crop variety commercialisation prospects.