How do you select a holding period for an long-lived asset like a trademark

IP valuation expert Mike Pelligrino confirms that the cost of capital is a function of the investor. So, while the McDonald's trademark might have "infinite" value over time, the holding period for an investor might be 10 or 20 years. So, when calculating IP values, your rate of return should be influenced by the holding period of the specific, or hypothetical buyer--as influenced by the standard of value for your engagement.