Valuing intangible assets:
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
New York, NY [u.a.]
McGraw-Hill
1999
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| Schriftenreihe: | Irwin library of investment & finance
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| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XXVII, 518 S. graph. Darst. |
| ISBN: | 0786310650 9780786310654 |
Internformat
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| 100 | 1 | |a Reilly, Robert F. |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Valuing intangible assets |c Robert F. Reilly ; Robert P. Schweihs |
| 264 | 1 | |a New York, NY [u.a.] |b McGraw-Hill |c 1999 | |
| 300 | |a XXVII, 518 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 0 | |a Irwin library of investment & finance | |
| 650 | 0 | 7 | |a Bewertung |0 (DE-588)4006340-9 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Immaterielles Wirtschaftsgut |0 (DE-588)4072737-3 |2 gnd |9 rswk-swf |
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Datensatz im Suchindex
| _version_ | 1804128674914500608 |
|---|---|
| adam_text | Contents
Preface xvix
Acknowledgments xxiii
Introduction xxv
PARTI
INTRODUCTION TO INTANGIBLE ASSET VALUATION
1. Identification of Intangible Assets 3
Introduction. Definition of an Intangible Asset. Economic Phenomena
That Qualify as Intangible Assets. Economic Phenomena That Do Not
Qualify as Intangible Assets. Economic Phenomena That Indicate Value in
Intangible Asset. The Distinction between Tangible Assets and Intangible
Assets. The Relationship between Tangible and Intangible Assets. Four
Categories of Property. Real Estate. Tangible Personal Property.
Intangible Real Property. Intangible Personal Property. Common
Categories of Intangible Assets. Intellectual Properties. Attributes
That Distinguish Intellectual Properties. How Intellectual Property
Attributes Affect Value. Summary.
2. Reasons to Conduct an Appraisal of Intangible Assets 29
Introduction. Purpose of the Appraisal. Common Reasons to
Appraise an Intangible Asset. Allocation of an Overall Business
Purchase Price for Financial Accounting Purposes. Allocation of an
Overall Business Purchase Price for Income Tax Accounting Purposes.
Preacauisition Assessment of Business Value. The Purchase of Selected
Intangible Assets. Capital Formation through Debt Financing.
Reorganization and Bankruptcy Analysis. Establishment of Appropriate
Royalty Rates for Intangible Asset Licenses. Establishment of a Fair
Intercompany Transfer Price. Income Taxation Planning and Compliance.
Ad Valorem Property Taxes. Litigation Support and Dispute Resolution.
Business Formation and Dissolution. Corporate Planning and Governance.
Contribution of Intangible Assets to a Business Entity. Audience for
the Intangible Asset Analysis. Analyzing an Intangible Asset as a
Component of a Business. Analyzing an Intangible Asset as an
Independent Economic Unit. Summary.
3. Professional Standards Related to Intangible Asset Appraisals 39
Introduction. Uniform Standards of Professional Appraisal Practice.
American Society of Appraisers. Internal Revenue Service. Section
197. Section 482. Section 170. Summary. Bibliography.
4. Basic Valuation Concepts 55
Introduction. Importance of Documenting the Valuation
Engagement. Defining the Appraisal Assignment. The Objective of the
vii
Appraisal. The Purpose of the Appraisal. Selecting the Appropriate
Standard of Value. Selecting the Appropriate Premise of Value.
Highest and Best Use Analysis. Alternative Premises of Value. Describing
the Particular Intangible Asset Subject to Appraisal. Describing the
Bundle of Legal Rights Subject to Appraisal. Selecting the
Appropriate Valuation Date. Communicating the Valuation
Assignment in a Client Engagement Letter. Summary.
5. Data Collection and Analysis 77
Introduction. Generalized Intangible Asset Information Checklist.
Relevant Time Period. Data Sources Internal to the Intangible Asset
Owner. Prior Transactions or Offers. Data Sources External to the
Intangible Asset Owner. Scholarly and Legal Publications. Trade
Publications. News Sources. Court Cases. Published Books. Interviewing
the Intangible Asset Owner. Scheduling the Sequence of Due
Diligence Steps. Summary.
PART II
INTANGIBLE ASSET VALUATION APPROACHES,
METHODS, AND PROCEDURES
6. The Appraisal Process 87
Introduction. The Nature of the Appraisal Process. Identification of
the Appraisal Problem. Highest and Best Use. Data Collection. Three
Approaches to Value. Contingent and Limiting Conditions.
Valuation Conclusion. Reporting the Valuation Conclusion.
Summary.
7. Basic Valuation Approaches 95
Introduction. General Introduction to the Cost Approach. Cost
Approach Methods —Theoretical Concepts. The Concept of Obsolescence
within the Cost Approach. General Introduction to the Market
Approach. Market Approach Methods —Theoretical Concepts. Application
of the Market Approach. General Introduction to the Income Approach.
Income Approach Methods —Theoretical Concepts. Application of the
Income Approach. Introduction to Valuation Synthesis and Conclusion.
Introduction to Reporting Valuation Conclusions. Summary.
8. Cost Approach Methods 118
Introduction. Cost, Price, and Value. Type of Cost. Components of
Cost. When Does Cost Indicate Value? Data Verification with Regard
to Cost Approach Analysis. Current Cost Trend Factors.
Identification and Quantification of Obsolescence. Cost Approach
Analysis—Example. Summary. Bibliography.
9. Market Approach Methods 146
Introduction. Collecting, Classifying, and Verifying Data. Establishing
and Applying Pricing Multiples. Frequency of Use. Market Potential.
Units of Production. Alternative Market Approach Methods. Sales
Transaction Method. Relief from Royalty Method. Comparative Income
Differential Method. Rules of Thumb. Market Replacement Cost Method.
Applications and Limitations of the Market Approach. Standard of
Value. Marketability. Control versus Fractional Interests. Deal Structure.
Reconciliation of Value Indications. Data Sources. Summary.
Bibliography.
viii Contents
10. Income Approach Methods 159
Introduction. Income Approach Methods. Yield Capitalization Method.
Simplified Yield Capitalization Method Example. Direct Capitalization
Method. Simplified Direct Capitalization Method Example. Components of
the Income Approach. Pros and Cons of the Income Approach.
Measures of Economic Income. Income to Whom ? Alternative Measures
of Economic Income. Economic Income Projection Period. Income
Capitalization Rates. Discrete Valuation versus Collective Valuation
of Intangible Assets. Differences between Intangible Asset and
Business Valuation. Valuation Methods and Illustrative Examples.
Incremental Income Analyses. Profit Split Analyses. Royalty Rate
Analyses. Illustrative Examples. Summary. Bibliography.
PART III
INTANGIBLE ASSET REMAINING USEFUL LIFE ANALYSIS
11. Life Analysis and Remaining Useful Life Estimation 205
Introduction. Life and Retirements Analysis. Causes of Retirement,
Attrition, and Expiration in Intangible Assets. Physical Characteristics.
Functional Characteristics. Operational Characteristics. Economic
Characteristics. Value and Remaining Useful Life. Remaining Useful
Life and the Three Approaches to Value. The Cost Approach. The
Market Approach. The Income Approach. Reasons to Estimate Useful
Life of an Intangible Asset or Intellectual Property. Determinants to
Estimate Remaining Useful Life. Definite Analysis. Qualitative
Analysis. Quantitative Analysis. Survivor Curves. Definition of Terms.
Survivor Curve Analysis. Methods of Calculating Survivor Curves. ASL
from Survivor Curves. Standard Survivor Curve Functions. Iowa Type
Curves. Weibull Function. Calculation of Average Service Life.
Remaining Life Estimation When Actuarial Data Are Not Available.
The Use of Survivor Curve Analysis for DCF Calculations.
Summary. Bibliography.
12. Concluding Remaining Useful Life 238
Introduction. Differences between Business Enterprise Valuation and
Intangible Asset Valuation. Determinants of Remaining Useful Life.
Selecting a Remaining Useful Life Estimate. Summary.
PART IV
INTANGIBLE ASSET VALUATION SYNTHESIS
AND REPORTING
13. Valuation Synthesis 247
Introduction. Criteria for the Selection of Valuation Approaches and
Methods. Quantity and Quality of Available Data. Access to Available
Data. Supply of Industry Transactional Data. Type and Nature of the
Subject Intangible, and Industry Conditions in WJiich the Subject
Intangible Is Expected to Operate. The Particular Bundle of Rights
Represented in the Intangible Asset Subject to Appraisal. Statutory,
Judicial, Contractual, and Administrative Considerations. Informational
Needs of the Particular Appraisal Audience. Purpose and Objective of the
Appraisal. Compliance with Promulgated Professional Standards.
Professional Judgment and Technical Expertise of the Analyst. Criteria for
the Synthesis of Multiple Valuation Indications. Income Approach
Methods. Cost Approach Methods. Market Approach Methods.
Contents ;x
Reconciling an Inconsistency of Results among Valuation
Approaches and Methods. Summary.
14. Reporting of Intangible Asset Appraisals 258
Introduction. Overview of the Appraisal Report. USPAP Reporting
Standards. Intangible Asset Appraisal Reporting Guidance. Other
Related USPAP Standards. Retention of Appraisal Reports and
Workpaper Files. USPAP Confidentiality Provisions. Summary.
15. Sample Intangible Asset Valuation Opinion Report 268
Introduction. Summary Description of the Company. Definition of
Value. Highest and Best Use. Valuation Report Outline. U.S.
Economic Indicators. History and Description of the Company.
Financial Statement Analysis. Financial Overview. Balance Sheets.
Statement of Earnings. Financial and Operational Ratios. Valuation
Methodology. Asset Valuation Approaches. Intangible Asset Valuation
Methods. Tangible Personal Property. Valuation Analysis. Valuation
Conclusion. Patent License Agreements. General Theory of Patent
Valuation. Relief from Royalty Method. Valuation Analysis. Valuation
Conclusion. Customer Contract Valuation. Valuation Analysis.
Valuation Conclusion. Cellular Service Customer List Valuation.
Customer List—Remaining Useful Life Analysis. Customer
Relationships —Valuation Analysis. Description of Valuation Model Key
Input Variables. Valuation Conclusion. Valuation of the Noncompete
Agreement. Scenario I: Business Value with Noncompete Agreement in
Place. Scenario II: Business Value without the Noncompete Agreement in
Place. Valuation Conclusion. Business Enterprise Valuation.
Introduction. Discounted Net Cash Flow Method. Guideline Publicly
Traded Company Method. Business Enterprise Valuation Conclusion.
Valuation Synthesis and Conclusion. Appendix A—Statement of
Contingent and Limiting Conditions. Appendix B—Appraisal
Certification. Appendix C—Qualifications of the Principal Analysts.
PARTV
ANALYSIS OF SPECIFIC TYPES OF INTANGIBLE ASSETS
16. Contract Intangible Assets 322
Description of Contract Intangibles. Common Valuation Methods.
Cost Approach. Market Approach. Income Approach. Data Sources.
Internal Data Sources. External Data Sources. Valuation Example. Fact
Set and Assumptions. Income Approach —Discounted Cost Savings
Method. Contract Intangibles Valuation Considerations. Bibliography.
17. Copyright Intangible Assets 320
Description of Copyright Intangibles. Economic Benefits Associated
with Copyright Intangibles. Categories of Materials Subject to Copyright.
Term of Copyright Protection. Copyright Registration. Transferability of
Copyrights. Common Valuation Methods. Cost Approach. Market
Approach. Income Approach. Data Sources. Internal Data Sources.
External Data Sources. Valuation Example. Example I—Cost Approach
Analysis. Example II—Income Approach Analysis. Bibliography.
18. Customer Intangible Assets 338
Description of Customer Intangibles. Common Valuation Methods.
Cost Approach. Market Approach. Income Approach. Data Sources.
Internal Data Sources. External Data Sources. Valuation Example. Fact
x Contents
Set and Assumptions. Approaches and Methods. Valuation Reconciliation
and Value Conclusion. Bibliography.
19. Data Processing Intangible Assets 363
Description of Data Processing Intangibles. Computer Software.
Electronic Databases. Tangible or Intangible Assets. Intellectual Property
Protection Related to Data Processing Intangibles. Common Valuation
Methods. Cost Approach. Income Approach. Market Approach.
Obsolescence. Special Considerations in Software Valuation. Data
Sources. Internal Data Sources. External Data Sources. Valuation
Example. Cost Approach —Software Engineering Model Method
(COCOMO 1981). Relief from Royalty Method. Market Transaction
Method. Valuation Reconciliation and Conclusion. Bibliography.
20. Goodwill Intangible Assets 380
Description of Goodwill Intangibles. Components of Goodwill. Types of
Goodwill Intangibles. Accountant s Interpretation of Goodwill. Economist s
Interpretation of Goodwill. The Analysis of Goodwill. Reasons to
Analyze the Goodwill Intangible. Common Valuation Methods. Cost
Approach. Market Approach. Income Approach. Data Sources. Internal
Data Sources. External Data Sources. Financial Ratios. Directories,
Periodicals, and Newsletters. Trade and Professional Societies. Valuation
Example. Fact Set and Assumptions. Approaches and Methods. Valuation
Reconciliation and Value Conclusion. Bibliography.
21. Human Capital Intangible Assets 399
Description of Human Capital Intangibles. Trained and Assembled
Workforce. Covenants Not to Compete and Noncompete Agreements.
Common Valuation Methods. Cost Approach. Income Approach. Market
Approach. Special Considerations in the Valuation of Human Capital
Intangibles. Trained and Assembled Workforce. Covenants Not to
Compete and Noncompete Agreements. Data Sources. Internal Data
Sources. External Data Sources. Valuation Example. Trained and
Assembled Workforce. Valuation Reconciliation and Conclusion.
Covenants Not to Compete and Noncompete Agreements. Valuation
Reconciliation and Conclusion. Bibliography.
22. Location Intangible Assets 420
Description of Location Intangibles. Common Valuation Methods.
Cost Approach. Market Approach. Income Approach. Data Sources.
Internal Data Sources. External Data Sources. Valuation Example. Fact
Set and Assumptions. Approaches and Methods. Valuation Reconciliation
and Conclusion. Bibliography.
23. Marketing Intangible Assets 424
Description of Marketing Intangibles. Common Valuation Methods.
Cost Approach. Income Approach. Market Approach. Remaining Useful
Eife. Data Sources. Internal Data Sources. External Data Sources.
Valuation Example. Cost Approach —Trended Historical Cost Method.
Income Approach—Profit Split Method. Market Approach —Relief from
Royalty Method. Valuation Reconciliation and Conclusion. Bibliography.
Contents vi
24. Technology Intangible Assets 434
Description of Technology Intangibles. Common Valuation Methods.
Market Approach. Cost Approach. Income Approach. Data Sources.
Internal Data Sources. External Data Sources. Valuation Example. Fact
Set and Assumptions. Market Approach—Relief from Royalty Method.
Cost Approach—Research and Development Cost Savings Method. Income
Approach—Profit Split Method. Valuation Reconciliation and Conclusion.
Bibliography.
PART VI
SPECIAL TOPICS
25. Intercompany Transfer Pricing and Royalty Rate Analysis 449
Introduction. The Nature of Intercompany Transfer Pricing. Key
Features of the Final 482 Regulations. Reporting Taxable Income. The
Arm s Length Standard. The Best Method Rule. The Arm s Length Range.
Determining Comparable Circumstances. Comparability Factors.
Multiple Year Data. Two Major Types of Intercompany Transfers.
Intangible Asset Pricing Methods. The Profit Split Methods. The
Comparable Uncontrolled Transaction Method. The Comparable Profits
Method. Profit Split Methods. Other Methods. Transfer Pricing for
Domestic Taxation Purposes. Transfer Pricing—Related Valuation
Misstatement Penalties. The Revenue Reconciliation Act of 1993.
Transfer Pricing Penalty Safe Harbor Provisions. The Purposes and
Roles of Intangible Asset Experts. Potential Purposes of Transfer
Pricing Analysis. Types of Experts. Financial Analysis Experts.
Economists. The Role of Consultants and Experts in Transfer Pricing
Analysis. Summary. Bibliography.
26. Case Studies 475
Introduction. Case 1: Sale Transaction Transfer Price—Nice Name
Department Stores, Inc. Case Description. Valuation Theory and
Methodology. Economic Variables and Analyses. Sources of Information.
Valuation Synthesis and Conclusion. Case 2: Charitable Contribution—
Benevolent Software Corporation. Case Description. Description of the
Computer Software Subject to Analysis. Computer Software Valuation
Methods. Valuation Synthesis and Conclusion. Case 3: License to Use
Patented and Proprietary Technology—Way Cool Refrigeration, Inc.
Case Description. Valuation and Royalty Rate Analysis Methodology.
Valuation Synthesis and Conclusion. Case 4: Copyright Infringement
Litigation—Thick Metropolitan Directory Company, Inc. Case
Description. Description of the Intellectual Property Subject to Analysis.
Financial Statement Analysis. Analysis of the Publishing Industry. Royalty
Rate Analysis. Economic Analysis Synthesis and Conclusion.
Index 513
xii Contents
List of Exhibits
3 1 Uniform Standards of Professional Appraisal Practice,
Table of Contents 42
3 2 American Society of Appraisers, Description 43
3 3 Treasury Regulations Section 1.482 0 47
3 4 Treasury Regulations Section 1.482 4(b) 50
3 5 Treasury Regulations Section 1.170A 13(c)(3) 51
3 6 Treasury Regulations Section 1.170A 13(c)(5) 52
4 1 Illustrative Listing of Intangible Assets and Intellectual
Properties Commonly Subject to Appraisal and Economic Analysis 65
4 2 Illustrative Engagement Letter, Economic Analysis of
Intangible Asset 70
4 3 Illustrative Engagement Letter, Appraisal of Intangible Asset 73
4 4 Illustrative Engagement Letter, Appraisal of Intellectual Property 75
5 1 Valuing Intangible Assets, Preliminary Information Request 79
6 1 The Intangible Asset Appraisal Process 94
8 1 Community Hospital, Intellectual Property Materials
Including Documents, Reports, Manuals, Policies, and Procedures—
Partial Listing 136
8 2 Community Hospital, Intellectual Property Materials
Including Documents, Reports, Manuals, Policies, and Procedures—
Personnel Loaded Hourly Rates 138
8 3 Community Hospital, Intellectual Property Materials
Including Documents, Reports, Manuals, Policies, and Procedures—
Fair Market Value Indication 140
10 1 Adjusting Present Value Formulas for Periodic Compounding 187
10 2 Adjusting Present Value Formulas for Midyear Discounting
Convention 189
10 3 Big Dog Pet Food Company, Proprietary Technology Valuation,
Fleabegone Pet Food 196
10 4 Friendly Foods Company, Trademark and Trade Name Valuation of
Sweetstuff, Net Operating Income Analysis 297
10 5 Friendly Foods Company, Trademark and Trade Name Valuation of
Sweetstuff, Selling Price Differential Profit Split Method 198
10 6 Friendly Foods Company, Trademark and Trade Name Valuation of
Sweetstuff, Valuation Synthesis and Conclusion 199
10 7 Friendly Foods Company, Trademark and Trade Name Valuation,
Royalty Rate Analysis 299
11 1 Analytical Methods to Remaining Useful Life Estimation, Survivor
Curve Analysis 218
xiii
11 2 Analytical Method Life Analysis, Illustrative Survivor Curve 220
11 3 Illustrative Survivor Curve Construction, Calculation of the
Survivor Curve 221
11 4 Illustrative Survivor Curve Construction 223
11 5 Eyeballing the Stub Curve 224
11 6 Illustrative Survivor Curve Construction 225
11 7 Illustrative Original Modal Type Curves 226
11 8 Illustrative Left Modal Type Curves 227
11 9 Illustrative Right Modal Type Curves 228
11 10 Illustrative Symmetrical Type Curves 229
11 11 Calculation of the Area under a Survivor Curve 233
11 12 Calculation of the Area under a Survivor Curve 234
11 13 Illustrative Survivor Curve Construction, Calculation of Surviving
Customer Relationships 236
15 1 North South Supply Company, Inc., Balance Sheets and
Common Size Analysis 275
15 2 North South Supply Company, Inc., Statements of Operations and
Common Size Analysis 276
15 3 North South Supply Company, Inc., Financial and Operating
Ratios 277
15 4 North South Supply Company, Inc., Tangible Personal Property,
Fair Market Value 281
15 5 North South Supply Company, Inc., Patent License Agreement,
Fair Market Value 284
15 6 North South Supply Company, Inc., Customer Contracts, Fair
Market Value 286
15 7 North South Supply Company, Inc., Cellular Service Customer
List, Fair Market Value 289
15 8 North South Supply Company, Inc., Noncompete Agreement, Fair
Market Value 292
15 9 North South Supply Company, Inc., Discounted Net Cash Flow
Method, Fair Market Value 294
15 10 North South Supply Company, Inc., Guideline Publicly Traded
Company Method, Valuation Summary 296
15 11 North South Supply Company, Inc., Guideline Publicly Traded
Companies 297
16 1 Illustrative Listing of Contract Intangibles 313
16 2 Illustrative Supplier Contract Valuation, Favorable Contract
Summary and Key Considerations 317
16 3 Illustrative Supplier Contract Valuation, Income Approach—
Present Value of Projected Cost Savings 318
17 1 Cost Approach Analysis, Copyright Related to How to Change
a Light Bulb 332
17 2 Copyright Infringement Damages Analysis, Value of Expected
Copyright License Payments 336
18 1 A Typical Survivor Curve 353
18 2 The Three Basic Survivor Curves 354
18 3 The Probable Life Integral 355
18 4 A Typical Probable Life Curve 355
xiv List of Exhibits
18 5 Example for Deriving Percent Surviving Table 357
18 6 Stub Period Curve Fitting 358
18 7 Iowa Type Survivor Curve, Type L 0.0, Five Year Average New
Customer Life 359
18 8 Live Long and Prosper Prescription Drug Files, Customer
Survival Table 360
18 9 Live Long and Prosper Prescription Drug Files, Valuation Variables 361
18 10 Live Long and Prosper Prescription Drug Files, Valuation Analysis 362
19 1 Software Valuation, Software Engineering Model Method,
COCOMO1981 377
19 2 Software Valuation, Relief from Royalty Method 377
19 3 Software Valuation, Market Transaction Method 378
20 1 Lotsa Goodwill, Inc., Summary Financial Statements 394
20 2 Lotsa Goodwill, Inc., Application of Capitalized Excess Economic
Income Method, Value of Net Identified Asset Value 395
20 3 Lotsa Goodwill, Inc., Application of Capitalized Excess Economic
Income Method, Overall Required Rate of Return and Overall
Direct Capitalization Rate 396
20 4 Lotsa Goodwill, Inc., Application of Capitalized Excess Economic
Income Method, Estimation of Excess Earnings 397
20 5 Lotsa Goodwill, Inc., Application of Capitalized Excess Economic
Income Method, Capitalization of Excess Economic Income 397
20 6 Lotsa Goodwill, Inc., Capitalized Excess Economic Income Method,
Indicated Value of Business Enterprise 397
21 1 Historical Cost Data Expressed as a Percent of Total Annual
Compensation by Employee Grade and Tenure 405
21 2 Historical Compensation Data and Number of Employees by
Employee Grade and Tenure 406
21 3 Estimated Replacement Cost of Assembled Workforce 407
21 4 Loss of Income Method, Scenario I Projections, with
Noncompetition Agreement in Place 408
21 5 Loss of Income Method, Scenario II Projections, without
Noncompetition Agreement in Place 408
22 1 Hotel Development Corporation, Value of Subject Building Permit,
Cost Approach Analysis, as of the Date of Revocation 421
22 2 Hotel Development Corporation, Value of Subject Building Permit,
Income Approach Analysis, as of the Date of Revocation 422
22 3 Hotel Development Corporation, Value of Subject Building Permit,
Market Approach Analysis, as of Date of Revocation 422
22 4 Hotel Development Corporation, Value of Subject Building Permit,
Valuation Synthesis and Conclusion, as of Date of Revocation 423
23 1 Attributes That Affect the Valuation of Trademarks and Trade
Names 426
23 2 Illustrative Trademark Valuation, Cost Approach—Trended
Historical Cost Method 430
23 3 Illustrative Trademark Valuation, Income Approach—Profit Split
Method 431
23 4 Illustrative Trademark Valuation, Market Approach—Relief from
Royalty Method 432
List of Exhibits xv
24 1 Attributes That Influence the Value of Technology Intangible
Assets 437
24 2 Illustrative Technology Valuation, Market Approach—
Relief from Royalty Method 442
24 3 Illustrative Technology Valuation, Cost Approach—Research and
Development Cost Savings Method, Comparative Cost Savings
Analysis 442
24 4 Illustrative Technology Valuation, Income Approach—Profit Split
Method 443
24 5 Illustrative Technology Valuation, Valuation Synthesis and
Conclusion 444
26 1 Nice Name Department Stores, Inc., Nice Name Canada Limited
Trademark and Trade Name Valuation Synthesis and Conclusion 477
26 2 Nice Name Department Stores, Inc., Nice Name Canada Limited
Trademark and Trade Name, Capitalized Advertising Cost Savings
Valuation Method 477
26 3 Nice Name Department Stores, Inc., Nice Name Canada Limited
Trademark and Trade Name, Capitalized Advertising Cost Savings
Method, U.S. Retail Stores Advertising Analysis 478
26 4 Nice Name Department Stores, Inc., Nice Name Canada Limited
Trademark and Trade Name, Profit Split Valuation Method 479
26 5 Nice Name Department Stores, Inc., Nice Name Canada Limited
Trademark and Trade Name, Relief from Royalty Valuation
Method 480
26 6 Nice Name Department Stores, Inc., Nice Name Canada Limited
Trademark and Trade Name, Nice Name Canada Limited Income
Statements 481
26 7 Nice Name Department Stores, Inc., Nice Name Canada Limited
Trademark and Trade Name, Nice Name Canada Limited Balance
Sheets 482
26 8 Benevolent Software Corporation, MED Software, COCOMO—
Effort Adjustment Factor Estimation 487
26 9 Benevolent Software Corporation, MED Software, COCOMO Cost
Estimation Method, Market Value Indication 487
26 10 Benevolent Software Corporation, MED Software, SLIM Cost
Estimation Method, Market Value Indication 488
26 11 Sample Outputs from SLIM Model 489
26 12 Way Cool Refrigeration, Inc., Clever Research, Patented and
Proprietary Technology Valuation, Discounted Cash Flow Analysis 492
26 13 Way Cool Refrigeration, Inc., Clever Research, Patented and
Proprietary Technology, Royalty Rate Analysis, Profit Split
Analysis 493
26 14 Way Cool Refrigeration, Inc., Clever Research, Patented and
Proprietary Technology, Royalty Rate Analysis, Return on
Investment Analysis 494
26 15 Way Cool Refrigeration, Inc., Clever Research, Patented and
Proprietary Technology Valuation, Royalty Income Stream
Analysis 495
26 16 Thick Metropolitan Directory Company, Inc., Historical and
Common Size Balance Sheets 498
xvi List of Exhibits
26 17 Thick Metropolitan Directory Company, Inc., Historical and
Common Size Income Statements 499
26 18 Thick Metropolitan Directory Company, Inc., Ratio Analysis 500
26 19 Greater Metropolis Industrial Buying Guide, Historical and
Common Size Income Statements 501
26 20 Thick Metropolitan Directory Company, Inc., Greater Metropolis
Industrial Buying Guide, Royalty Rate Analysis, Profit Split
Method 504
26 21 Thick Metropolitan Directory Company, Inc., Greater Metropolis
Industrial Buying Guide, Royalty Rate Analysis, Estimation
of Present Value Discount Rate 505
26 22 Thick Metropolitan Directory Company, Inc., Greater Metropolis
Industrial Buying Guide, Royalty Rate Analysis, Excess Earnings
Method—Net Asset Basis 508
26 23 Thick Metropolitan Directory Company, Inc., Greater Metropolis
Industrial Buying Guide, Royalty Rate Analysis, Recreation Cost
Method 520
26 24 Thick Metropolitan Directory Company, Inc., Greater Metropolis
Industrial Buying Guide, Royalty Rate Analysis, Arm s Length
Copyright License Royalty Rate Evidence 522
List of Exhibits xvii
|
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| discipline | Wirtschaftswissenschaften |
| format | Book |
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| geographic | USA (DE-588)4078704-7 gnd |
| geographic_facet | USA |
| id | DE-604.BV013841152 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T18:53:00Z |
| institution | BVB |
| isbn | 0786310650 9780786310654 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-009467809 |
| oclc_num | 246236453 |
| open_access_boolean | |
| owner | DE-N2 DE-473 DE-BY-UBG DE-M382 DE-706 DE-20 DE-945 DE-703 DE-91 DE-BY-TUM |
| owner_facet | DE-N2 DE-473 DE-BY-UBG DE-M382 DE-706 DE-20 DE-945 DE-703 DE-91 DE-BY-TUM |
| physical | XXVII, 518 S. graph. Darst. |
| publishDate | 1999 |
| publishDateSearch | 1999 |
| publishDateSort | 1999 |
| publisher | McGraw-Hill |
| record_format | marc |
| series2 | Irwin library of investment & finance |
| spelling | Reilly, Robert F. Verfasser aut Valuing intangible assets Robert F. Reilly ; Robert P. Schweihs New York, NY [u.a.] McGraw-Hill 1999 XXVII, 518 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Irwin library of investment & finance Bewertung (DE-588)4006340-9 gnd rswk-swf Immaterielles Wirtschaftsgut (DE-588)4072737-3 gnd rswk-swf USA (DE-588)4078704-7 gnd rswk-swf USA (DE-588)4078704-7 g Immaterielles Wirtschaftsgut (DE-588)4072737-3 s Bewertung (DE-588)4006340-9 s DE-604 Schweihs, Robert P. Sonstige oth HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009467809&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Reilly, Robert F. Valuing intangible assets Bewertung (DE-588)4006340-9 gnd Immaterielles Wirtschaftsgut (DE-588)4072737-3 gnd |
| subject_GND | (DE-588)4006340-9 (DE-588)4072737-3 (DE-588)4078704-7 |
| title | Valuing intangible assets |
| title_auth | Valuing intangible assets |
| title_exact_search | Valuing intangible assets |
| title_full | Valuing intangible assets Robert F. Reilly ; Robert P. Schweihs |
| title_fullStr | Valuing intangible assets Robert F. Reilly ; Robert P. Schweihs |
| title_full_unstemmed | Valuing intangible assets Robert F. Reilly ; Robert P. Schweihs |
| title_short | Valuing intangible assets |
| title_sort | valuing intangible assets |
| topic | Bewertung (DE-588)4006340-9 gnd Immaterielles Wirtschaftsgut (DE-588)4072737-3 gnd |
| topic_facet | Bewertung Immaterielles Wirtschaftsgut USA |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009467809&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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