The Intangible Asset Economy
Too often there is no clear strategy for evaluating a company’s
intangible assets—this is true in many situations, even in
so-called pre-packaged bankruptcy reorganizations. For most non-intellectual
property specialists, bulk sale of the assets is the easiest course
of action, and these non-specialists typically ignore the intangibles
until all other assets have been dealt with. Strategies to maximize
value from the intangible assets are rarely identified; and if
they are, it is usually far too late in the process. Therefore,
implementing what would have been the best alternative is often
difficult because the process of sale, reorganization, liquidation,
etc., already has been decided upon; and the intangible asset strategy
is left until the very end of the game. Wherever possible, we need
to work to change this. A handful of key guidelines are important
to keep in mind.
Valuation Extraction Guidelines
- Timing can
be everything. Intangibles are wasting assets and can quickly
decline in value.
- In many cases,
the alternative strategies to maximize value are not necessarily
mutually exclusive; often two or more alternative strategies
can be pursued at the same time.
- Legal issues
concerning intangible assets are far more complex than those
associated with tangible assets groups, they are, however, just
as important.
- Early
in the game, one must ask the question as to whether the “juice
is worth the squeeze”—i.e., does it appear
that the time, effort, and resources required are justified,
given the relative value of the intangible assets involved.
- As a consequence,
early identification and evaluation of the intangible assets
is absolutely imperative.
More information about the book The
Intangible Assets Handbook
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