Michael D. Moberly June 26, 2009
An intangible asset assessment is not merely a warmed over version of an intellectual property audit. Rather, an intangible asset assessment produces actionable outcomes largely geared toward identifying, assessing and, most importantly, utilizing a company’s intangible assets to further contribute to (company) revenue, value, competitive advantages, and sustainability. The assessment itself should include flexible protocols that reflect each company’s nuanced circumstances relative to the contexts/formats in which their intangibles’ are produced, exist, and contribute to value.
Intangible asset assessments can have multiple purposes and objectives, often depending on the company and its management teams’ familiarity with and receptivity to engaging and utilizing their intangible assets, i.e.,
1. recognize what intangible assets a company already has and produces and how those assets influence – contribute to company value, revenue, competitive advantages, image, goodwill, and reputation, etc.
2. bring economic and competitive advantage clarity to intangibles for near term and strategic application by demonstrating how to effectively utilize, leverage, and/or bundle the intangible assets to further contribute to (extract) value.
3. describe ‘best practice’ management, stewardship, and oversight techniques to ensure the assets’ value, use, control, and ownership are (a.) sustained throughout their respective functional life/value cycle, and (b.) aligned with core business competencies, mission, and strategy (vision).
4. identify and mitigate risks-threats that elevate the vulnerability-probability that the assets will become ensnared and/or entangled in costly, time consuming, and momentum stifling legal challenges and disputes that can undermine and/or erode their value and competitive advantages.