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According to a PricewaterhouseCoopers’
analysis of US market, intangible assets and
goodwill constituted 74% of avg. purchase
price of acquired companies in 2003, with
22% being Intangible Assets
Intangible assets (IA) are the IPRs owned by
the company including licenses, contracts,
non-compete agreements and so on
Copyright/Related Rights
protects reproduction &
performance in arts/software
Industrial Design
Patents
protects Only IP that
look of products,
protect packaging, aesthetics
generates
products, business direct cash flows
processes
in a commercial
Trade Secrets transaction
protect business plans,
know how, is considered
Mark/
client portfolio,
Geographical Indication tacit knowledge,
protects, logo, processes
slogans, symbols
Protection against Unfair Competition
IP is an intangible asset, ...
Knowledge Content
Transferability Background of users &
IP is transferable to a new context determine relevance
or similar business context of IP to business
Concept Impact
Internally Generated IP The same IP may be
is immediately expensed, perceived to be
Acquired IP is valued at its acquisition cost, worth nothing or
amortized or subject to an impairment test 100 Mn $
Implies a benchmark,
Fair value: “Amount at which an asset could
yet worth of IP
be bought or sold in a current transaction
depends also on context
between 2 willing parties, other than a
& background
liquidation.”
Much IP won’t
Intangible Asset: “… identifiable, controlled by
qualify since it has
an enterprise as result of past events & should
an indirect impact
generate future economic benefits for the firm.”
on cash flows
Goodwill: “price a market participant is ready to
Difficult to make
pay in excess of the value of a firm’s tangible
worth of IP explicit &
assets.”
compare Goodwill
of different firms
Advantages of Reporting IP
F M
• Communicates the value of IP to investors
O A
• Shows what IP the company owns
R N
• Puts a value to the IP
A
• Explains how the IP relates to business segments
G
E F I
R O N
S R V
• Get information on how IP drives growth E
• Receive adequate inputs for earnings/sales forecasts S
• Can better estimate risks/revenues of an investment T
• Can better understand the nature of a business O
• Increases predictability while decreasing volatility R
S
The IP Reporting Process
Create IP
Build IP ownership
Create Understand Report Generate
Business IP IP IP Superior
Culture Ownership Ownership Results