This guidance note covers the valuation of intellectual property (IP), a subset of intangible assets. Its purpose is to expand on the IVS 2013 and the Red Book in order to clarify the legal, functional and economic characteristics of IP valuers should consider and report on in an IP valuation.

The guidance note includes:

• Introduction and scope
• Defining the subject IP and assessing legal characteristics
• Clarifying and disclosing the extent of investigation
• Assessing the functional and economic characteristics of the subject IP
• Selecting an appropriate valuation approach
• Integrating IP characteristics into valuation analysis