The Intangible Assets Handbook: Maximizing Value from Intangible Assets Book

Dedication     iii
Acknowledgments     v
Introduction: The Intangible Asset Economy     xi
Goodwill and Intangible Assets     1
Defining Intangible Assets and Intellectual Property     2
Intangible Assets     2
Intellectual Property     6
Goodwill     7
Other Intangible Asset Definitions     10
Intangible Asset Regulations and Organizations     12
Intangible Asset Value and Value Identification     13
Conclusion     15
Identification and Categorization of Intangible Assets     17
Due Diligence-The Process     17
The Internal Audit and Search for Intangibles     18
The Identification Process: Where to Look     20
Third Party Organizations     22
New and Changing Intangible Assets and Intellectual Property     24
Assembling Intangible Assets into Groups or Bundles     27
Marketing Bundle     28
IT Bundle of Assets     29
Technical Bundle     30
Other Important and Diverse Bundles of Intangible Assets     31
Bundling Intangible Assets in a Bankruptcy or Reorganization     38
Inventory, Codification, and Control of the Assets     38
Intangible Assets and Corporate Reorganization     41
Common Questions about Intangible Assets in Bankruptcy     42
How the Bankruptcy Code Affects Intangible Assets     43
Section 365 and Intangible Assets     47
Intangible Asset Values in Bankruptcy     50
Examples and Conclusions     54
Valuation of Intangible Assets     59
Traditional Intangible Asset Valuation Techniques     64
The Cost Approach     65
The Market Approach     67
The Income Approach     69
The Relief from Royalty Approach     70
The Technology Factor Approach     72
Alternative Valuation Methodologies     75
Valuation Considerations and Environmental Aspects     81
Research and Financial Considerations in Litigation and Bankruptcy     83
Remaining Useful Life Considerations     83
The Discount Rate     85
Summarizing the Valuation Process     87
Basic Tests to Confirm Intangible Assets with Values     89
The Triage Process: Prioritization of Assets to Be Valued     91
Valuing Intangible Asset Groups or Bundles     93
Licenses and Licensing     95
Licensing Royalty Rates     102
Internet Assets     103
Technology Valuation     107
Recognition of All Types of Value     109
Intellectual Property Holding Company     110
Tax Credits     112
Summary     114
Value Extraction and Maximization     117
Alternative Value Extraction Strategies     119
Implementing the Alternatives     121
Value Maximization Issues and Constraints     124
Legal Issues     124
The Five Critical Elements of Value Maximization     126
Value Maximization Constraints     128
Polaroid: A Case Study in Value Maximization     129
Situation Summary     130
The Process of Value Identification and Valuation     132
Technology Asset Bundles     134
Brand Asset Bundles     143
Disposition Plan Summary     148
Summary     150
Case Studies in Value Extraction     153
Astro Turf: How Not to Maximize Value     156
Jenny Craig: Leveraging Intangible Assets to Build Value     160
Montgomery Ward: Hidden Jewels     165
Alamo National Corporation: When Solvency Matters     168
Service Merchandise: A Broad Range of Asset Classes     171
Collins & Aikman: A Tale of Two Venues     175
Morgan Confections: How Mismanagement Destroys Value     179
The Marlon Brando Estate: Publicity Rights as Intangible Assets     181
Egg.com: Pricing a Bank's Intangible Assets     184
Final Thoughts and Conclusions     195
Review of the Handbook     195
Final Thoughts     198
The Five Critical Elements of a Successful Intangible Asset Study     203
Common Terms and Usages     204
Index     209
About the Author     215