14
/ December
2023
Intellectual Property
Of increasing importance is the need for accurate and defensible intangible property and intellectual property valuations. Whether for fair value or transfer pricing compliance, or for forecasting business growth, Business Valuation Resources offers the leading portfolio of solutions.
Guides & Books
Understanding Business Valuation - 6th Edition
February 2022
In this exciting new edition of Understanding Business Valuation, Gary Trugman takes his characteristic talent for simplifying the technical and complex to even greater heights. In his easy-to-read and understand style he covers all the bases with valuation approaches, methods, and techniques. Trugman identifies critical points in his callout notes throughout the publication.
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Benchmarking Identifiable Intangibles and Their Useful Lives in Business Combinations, Third Edition
August 2021
Benchmark data is used to help support the allocation of intangible assets and the estimation of remaining useful lives for a purchase price allocation (PPA). Now in its third edition, Benchmarking Identifiable Intangibles and Their Useful Lives in Business Combinations delivers a compilation of reported, vetted and carefully analyzed data, particularly focused on useful lives of intangible assets as reflected in almost 16,000 purchase price allocations
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Intellectual Property Valuation Case Law Compendium, Fourth Edition
January 2021
Intellectual property (IP) valuation and litigation continue to make headlines – especially when damages are involved. Every financial expert and attorney practicing in this area needs to keep up with legal precedent – and stay ahead of new and evolving methodologies. This 4th edition of BVR’s IP Valuation Case Law Compendium puts all vital thought leadership and case law at your fingertips.
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Early Stage Valuation: A Fair Value Perspective
June 2020
Early Stage Valuation: A Fair Value Perspective provides a comprehensive review of the current methodologies used to value Early Stage Enterprises (ESEs) at fair value for financial reporting, investment, and mergers and acquisitions. Author Antonella Puca, Senior Director with Alvarez & Marsal Valuation Services in New York, provides accurate, up-to-date information on recent guidelines and new approaches for valuation assessments.
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BVR/ktMINE Royalty Rate Benchmarking Guide, 2017/2018 Global Edition
October 2017
The BVR/ktMINE Royalty Rate Benchmarking Guide, 2017/2018 Global Edition was developed to help provide analysts clarity with an aggregated, big-picture indication of royalty rate trends within industries. The 21 industries examined within this guide help provide better transparency from licensing transactions in a global marketplace that is often murky.
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Calculating Economic Damages in Intellectual Property Infringement Cases
September 2016
In this one-stop resource you’ll find a comprehensive overview of strategies, analysis, case studies, and legal insight to help you calculate and recover or defend a case involving the infringement of intellectual property. Nowhere else will you find such a complete and thorough analysis of current case law and the valuation methods that form the basis of damage awards in IP infringement cases.
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Royalty Rates for Technology, 6th Edition (PDF)
March 2015
Royalty Rates for Technology, 6th Edition contains more information on pricing of licensed technology than in any other publication – and 21% more than the previous edition. This unique reference reports all available compensation terms from actual completed license agreements.
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Business Valuation Update Yearbook 2015
February 2015
BVR has you covered with the latest news in the business valuation profession! Get your Business Valuation Update Yearbook 2015 now to stay up to date with the most innovative approaches and techniques, leading conferences, new court decisions and changes in regulations and standards in the profession with on-the-ground reporting from valuation experts, thought-leaders and the BVR editorial team.
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BVR Legal and Court Case Yearbook 2015
February 2015
The BVR Legal and Court Case Yearbook 2015 is essential for business valuation professionals and attorneys to stay current on the most important legal issues confronting the profession. The Yearbook covers marital disputes, breach of contract actions, damages, dissenting shareholder disputes, estate and gift tax cases, federal taxation, intellectual property cases, bankruptcy litigation, and more.
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Guide to Intangible Asset Valuation
November 2014
This 700-page book, published by the AICPA, explores the disciplines of intangible asset valuation, economic damages, and transfer price analysis. Guide to Intangible Asset Valuation examines the economic attributes and the economic influences that create, monetize, and transfer the value of intangible assets.
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Royalty Rates for Pharmaceuticals & Biotechnology, 8th Edition
March 2012
Royalty Rates for Pharmaceuticals & Biotechnologyfeatures more real-deal royalty rates, license fees, and milestone payment benchmarks than any other publication. This new edition contains hundreds of royalty rates and other financial compensation benchmarks that can be used to optimize the pricing of biotechnology and pharmaceutical innovations.
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BVR's Guide to Intellectual Property Valuation, Second Edition
March 2012
Author and leading IP expert Michael Pellegrino analyzes real-world examples of IP valuation and discusses each of the primary IP categories including patents, trademarks, copyrights and trade secrets. The new edition includes chapters on valuation approaches and guidance, due diligence, discount rate development, royalty rates and much more.
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Licensing Trade Secrets: Overview and Sample Agreements
March 2011
Trade secrets are certainly a consideration in every technology license. It has been estimated that the addition of trade secrets to a patent license in technology can increase the value of the license up to ten times. This book discusses and provides an overview of what constitutes a trade secret and how they affect value, plus several different kinds of real agreements that license trade secrets in one way or another.
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Royalty Rates in Copyright Agreements: A BVR Guide to Full-Text Licensing Agreements
August 2010
For an owner of intellectual property rights, “managing” that intellectual property is now the operative demand. And the first step to “managing” IP is ascertaining its value.This one-of-a-kind guide features over 800 pages of agreements and summaries, including agreements for music, movie, character/personas, scientific/technological information and more.
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Royalty Rates in Biotech: BVR's Guide to Full-Text Licensing Agreements
June 2010
To assist in constructing agreements, BVR has published the Royalty Rates in Biotech guide, which contains over 500 pages of full text copies of actual licensing agreements in the biotech industry. These hard-to-find agreements will provide valuable guidance in setting royalty rates and addressing complex issues in a license agreement.
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Training
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Black Scholes Option Model: Global Education by iiBV (eLearning Course)
The Black Scholes Option Model was first published in 1973, but the applicability in valuation is strong to this day. Join iiBV expert Andrew Strickland as he dissects and explains the various components of the models, and how they can be utilized in your valuation.
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Excel for Valuation: Beginner to Advanced (eLearning course)
Whether you're new to the field or a veteran business valuation practitioner, there is no tool more critical than Excel. BVR's new eLearning course, "Excel for Valuation: Beginner to Advanced," will catapult your Excel knowledge and skills so you can work as efficiently as possible with spreadsheets, formulas and functions. You can customize the course to match your skill level; start with the very basics or jump right into more complex areas. The eLearning combination of video, notes, take-away templates, quizzes, and exercises ensure you will remain thoroughly engaged for the duration of the course.
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International Business Valuation Standards and Ethics (eLearning course)
Valuation is a global profession, and for many that means complying with the new 2020 International Valuation Standards and Code of Ethical Principles. This comprehensive eLearning course delivers what you need to know to demonstrate global valuation competency and understand the significant changes to the standards. See practical and relevant examples by working through an actual case study that follows all of the logical steps of a valuation engagement. Hold yourself to a higher global standard and be prepared to venture wherever your next valuation assignment takes you.
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International Cost of Capital: Global Education by iiBV (eLearning course)
The income approach is the most relied upon approach for most valuations, and determining the cost of capital for your engagement for a non-U.S. company is often difficult due to lack of local data. Utilizing commonly applied models in developing international cost of capital, such as relative volatility models or country yield spread models, is critical for success. Learn the shortcomings of each model in terms of their ability to capture the systematic and unsystematic risk in a subject company.
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Masterclass in the Valuation of Family Limited Partnerships and LLCs (eLearning course)
As professional appraisal methodology has advanced, so has the valuation of family limited partnerships (FLPs) and limited liability companies (LLCs). Adopting an analytical method for valuing FLPs and LLCs using the income and market approaches allows appraisers to more accurately and objectively determine a value that can withstand the scrutiny of IRS challenges. Experts Bruce Johnson, Jim Park, and Spencer Jefferies conduct case studies to teach the best practices for valuing noncontrolling, nonmarketable FLP and LLC interests.
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Monte Carlo: Applications, Examples and Best Practices for Valuation (eLearning course)
As complexity and uncertainty continue to increase, business valuation experts must up their game to master the challenges that accompany today's engagements. Rise to – and soar beyond – the occasion using Monte Carlo simulations, an indispensable method for advanced valuation scenarios. This eLearning course, "Monte Carlo: Applications, Examples and Best Practices for Valuation" distills the best instruction and content on the topic.
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Valuing Early Stage Companies: Global Education by iiBV (eLearning course)
Early stage companies are challenging to value. Often with undeveloped or even no revenue these companies require a unique set of tools for a business valuer. Learn the common models used to deploy valuations in this area such as the Current Value Method, Option Pricing Model, and the Probability Weighted Expected Return Method (PWERM), along with their shortcomings.
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Valuing Intangible Assets: Global Education by iiBV (eLearning course)
Every valuation professional needs to be able to identify the differences between intangible and tangible assets. The first step is to define the major categories of intangible assets and understand the common models used to determine value. Often the purpose of intangible valuation is for financial reporting contexts, including purchase price allocation. Join Jon Barton in this fundamental eLearning course that builds on core valuation concepts with in depth lectures and Excel-based case studies.
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Valuing Minority Interests: Global Education by iiBV (eLearning course)
Valuing a partial interest in a business is difficult, and when that interest is a minority ownership stake the impact to value can be significant. In this eLearning course, led by John Barton, you’ll learn methods to adjust for and quantify minority discounts. Control is a key issue, and understanding the multiple methods an appraiser can utilize is critical to a defensible valuation.
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14
/ June
2023
Patent Infringement Damages: Lost Profits and Royalties
20
/ December
2022
Commercial Success – Using Economic Analysis to Show Patentability
23
/ August
2022
Calculating Infringement Damages (A BVR Workshop)
09
/ June
2022
Keys to Using a Royalty Database (FREE WEBINAR)
30
/ March
2022
ABCs of Intangible Asset Valuation
04
/ December
2019
Royalty Rates and How to Use Them in the Relief from Royalty Method
26
/ November
2019
Application of the Cost Approach to Valuing Identifiable Intangible Assets
31
/ October
2019
The IP in IPO: IP Valuation Lessons from Recent Public Exits
Deal & Market Data
ktMINE Reports
ktMINE Reports are customized products that streamline your intellectual property (IP) research process, saving you time and money. ktMINE Reports provide you with a company’s current IP portfolio and investments to expose its innovation strategy and give you the information you need for valuable company insight.
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ktMINE Royalty Rate Comparables & Full Text Licensing Agreements Database
The ktMINE royalty rates database provides an efficient and organized gateway to canvass the landscape of intellectual property (IP) licensing payments and agreement terms. This interactive database provides direct access to royalty rates, full-text licensing agreements, and detailed agreement summaries. With precise search functionality, robust data mining capabilities, and a time-saving analysis center, ktMINE is the tool you should use to quickly identify and analyze market comparables from a goldmine of licensing agreements.
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News & Research
Business Valuation Update
The Business Valuation Update (BVU), a monthly newsletter with searchable online access, includes new thinking from leading professionals, detailed reports from valuation conferences, analysis of new business valuation approaches, thorough analysis of “landmark” legal cases in key business valuation issues, regulatory and standards updates, and much more.
Learn more >>
Blog Posts
12
/ May
2021
Seven Steps to Managing an Intellectual Property Engagement
There is an inherent flow to managing an intellectual property valuation engagement. In BVR’s publication, Guide to Intellectual Property Valuation, 2nd edition, author Michael Pellegrino outlines the typical process and steps that a valuation professional may want to follow when performing an intellectual property (IP) valuation. Read more >>
27
/ February
2021
Prince Estate and IRS Embroiled in Fierce IP Valuation Dispute
Back in January, BVWire ran a news item on a recent article from the Star Tribune. The article states that the executor of the estate of Prince, the late world-famous rock star, and the Internal Revenue Service are currently locked in a fierce estate and gift tax dispute. The IRS argues the executor has seriously undervalued the estate, and the executors claim the IRS’ calculations “are riddled with errors.” Read more >>
29
/ July
2020
Understanding Force Majeure Through Agreement Analysis
Since the onset of COVID-19, organizations are reassessing their intercompany agreements to include force majeure clauses. Force majeure is an “Act of God” clause that allows involved parties to renegotiate or terminate an agreement if an unforeseen or unpredictable event occurs. Read more >>
06
/ May
2020
Force Majeure: Examining the Post COVID-19 Intercompany Agreement Reality
As COVID-19 continues to shift everyday life and the global economy, accounting professionals are looking for information to help guide their clients through these trying times. These organizations will lean on their in-house experience and should pay close attention to the lessons learned during the 2008 market crisis. Force Majeure is a clause included within an agreement that is commonly referred to as the “Act of God” clause. Read more >>
24
/ February
2020
Examining the Correlation Between IP and Startup Valuations
In a recent article published in the Business Valuation Update, Efrat Kasznik (Foresight Valuation Group) covered six of the most common questions that routinely come up with regard to the correlation between intellectual property (IP) and startup valuations. These questions are important for each startup (particularly in the software industry) looking to manage IP as a strategic business asset. Read more >>
02
/ October
2019
Building a credible forecast for brand valuation
The most visible and recognizable intangible asset for a firm is its brand. A brand contains legal protections that trigger value. But knowing how to quantify the latter in view of the former can be perplexing to even the most experienced valuation professional. According to expert Mike Pellegrino, the author of BVR’s guide on Intellectual Property Valuation, there are some fundamental, underlying legal rights that provide brands monopoly protection and, ultimately, their value. Read more >>
04
/ September
2019
University Patent Trends Around the World
By the start of the 21st century, 50% of all basic research was credited to universities, some major examples being antibiotics, plastic, and even Google. Patent activity can offer insight into where the top universities (including colleges) across the world have recently been focusing their efforts, both geographically and industrially. Read more >>
02
/ July
2019
Underdeveloped Comparability Analysis Leads to Exclusion of Reasonable Royalty Opinion
In the recent patent infringement case, Meridian Mfg. v. C&B Mfg. (Oct. 5, 2018), both parties raised Daubert challenges to the opposing expert’s damages opinions. This provides a good reminder of key legal principles informing reasonable royalty and lost profits calculations. Read more >>
09
/ April
2019
Corporate Cannabis: One-Hitter or Here to Stay?
This is the second installment in ktMINE's Cannabis series. In Part I, it discussed the marijuana IP landscape in general and explored trademarks in the industry. In this post, it investigates the potential movement of Big Pharma and multinational agricultural corporations into the cannabis space. Read more >>
24
/ January
2019
Tips for applying art and science to intellectual property valuations
Valuing intellectual property depends on a broad range of expertise and requires a valuation professional to have more than a cursory understanding of marketing, accounting, finance, scientific and/or applied science, the applicable intellectual property law, statistics, financial modeling, and report writing. Read more >>