Valuation of intangible assets has become a significant portion of many valuation practices. Although the need to value identifiable intangible assets such as brand, intellectual property, customer relationships and non-compete agreements has been driven by the constantly evolving Canadian, U.S. and international financial accounting standards, valuators are still called upon to perform stand-alone valuations of intangible assets for tax and litigation purposes.
Reilly& Schweihs (Valuing Intangible Assets, McGraw-Hill, 1999) provide a common categorization of intangible assets follows: