“…As previously mentioned, background and literature review show that the use of traditional patent valuation approaches such as costoriented (Drews, 2001), market-oriented (Daryl & Drews, 2006), income-oriented (Kamiyama, Sheehan, & Martinez, 2006) and real option (Pitkethly, 1999) have many shortcomings (Lee, Park, & Jang, 2015;Mattei, 2009) including the need for simultaneous attention to different financial and non-financial criteria together for each of the patents (Wang, García, Guijarro, & Moya, 2011;Hong, Seo, Kim, & Kang, 2010;Hytönen & Jarimo, 2010); and the necessity of using the opinions of experts in determining the value of patents and determining the criteria affecting the value of patents in the technological field (Grimaldi, Cricelli, Di Giovanni, & Rogo, 2015;Ha, Liu, Cho, & Kim, 2015;Park & Park, 2004;Collan, Fedrizzi, & Luukka, 2013). Over the past few years, the capabilities of MADM methods have been emphasized to address these problems and deficiencies (Collan, Fedrizzi, & Luukka, 2013;Chiu & Chen, 2007;Wang, García, Guijarro, & Moya, 2011;Hashemkhani Zolfani, Zavadskas, & Turskis, 2013). However, while there has been an emphasis on the use of the MADM approach by researchers, there have not been many types of research in this regard.…”