A system and method for assessing valuation of a document. The system includes a server arrangement communicably coupled to a client device. The server arrangement is configured to obtain information pertaining to document and ontologically map to identify relevant entities and semantic inter-relationships between identified entities for the current research work in the document; access information about entities and semantic inter-relationships related to existing research work in technical field from publicly accessible knowledge; compare the entities and the semantic inter-relationships related to the current research work in the document with the entities and the semantic inter-relationships related to existing research work determine a novelty of the document; and determine an assessment value of the document, based on the determined novelty of the document with respect to the publicly accessible knowledge, utilizing an expectation maximization algorithm.