I assist my clients with valuing their technology in business transactions by working through the following aspects of the transaction:
Technology Rights are specified in some form of Intellectual Property (IP), principally in three forms: Patents, Trade Secrets, and Copyrights. The category of Trade Secrets is often inclusive of proprietary information relating to the technology itself and also the process for its manufacture, including suppliers and vendors, and delivery to customers, including channels of distribution. Copyrights generally refers to the protection of software and look and feel aspects, namely a particular expression of something valuable.
Risk is endemic to essentially any human enterprise, but especially so with respect to technology by virtue of uncertainties of it working, being manufactured, finding customers and establishing markets, all at reasonable cost with benefits sufficiently compelling to displace old ways of doing (or not doing) things.
Art is about wisdom and judgment, essential to high complexity/high ambiguity contexts common to technology development and commercialization.
Deal Economics is the cost of the opportunity from the point of view of the buyer and the reward realized or potential from the view of the seller.