What is valuation and how does it apply to IP?
By valuing your assets you place a dollar value on all the resources your business owns and will benefit from in the future. IP is another asset that you should not forget to value. It is not a quick or easy task and there are no hard and fast rules about how to value your IP assets. A good place to start is to assess your current IP management and commercialisation practices. What type of resource or asset is IP? Generally, a business will have two types of assets current assets, which can be converted to cash within a year, and noncurrent assets, which provide benefit beyond a year. Assets are then divided into tangible and intangible assets. Most non-current assets are tangible such as land, buildings and equipment. Intangible assets do not physically exist but carry particular rights. IP is a specialised classification of intangible assets and enjoys special legal recognition and protection. Patents, trade marks, designs and copyrights are IP rights and identifiable assets, which y
