Intangible assets are non-physical assets that often hold significant value, representing benefits and rights such as intellectual property (’IP’). The two common types of intellectual property are formal IP and informal IP and they can incorporate various types of intangible assets. Some examples of intangible assets include patents, trademarks, copyrights, trade secrets, customer relationships, software, contracts and even goodwill, which is often referred to as an intangible asset. These IP assets usually contribute significantly to a business’s value and competitive advantage.
How to value intangible assets?
Given that intangible assets can be unique, the question of how to value intangible assets essentially comes down to choosing the right valuation method which can involve several approaches most suitable for the type of IP assets and the situation. For example, trade secrets have value and can be valued. We are often asked about how to turn knowledge into a valuable intangible asset.
How do intangibles feature in an IP strategy?
Here at Metis Partners, we utilize our expertise in the field of intellectual property strategy and monetization to provide business owners with the knowledge and skills they need to maximize the commercial exploitation of their IP assets. But of course knowledge comes in various forms, some of which can benefit your business and some of which can put your business at risk and so need to be carefully managed. Read more on how to turn knowledge into a valuable intangible asset.