Differing relative to the above methods, an option-based methodology takes into consideration the options and opportunities related to the investment. It relies on option pricing models (e.g.
In these cases, patents may be valued using the techniques developed for financial options, as applied via a real options framework. The key parallel is that a patent provides its owner the right to exclude others from using the underlying invention, so both patents and stock options represent a right to exploit an asset in the future, and to exclude others from using it.