Case Studies

Intangible assets


Greek chamber of commerce


Shaping a common European methodology for the valuation of intangible assets


We participated in a team of distinguished experts (representatives of business support organizations, financial institutions, venture capital firms, intellectual property offices, business angels etc.) invited by the Chamber to work together so as to identify an integrated methodology for the evaluation of intangible assets from a financial and economical point of view. What is clear is that while tangible assets can leverage debt and equity instruments to raise finance for SMEs, the nature of intangible assets —which are also referred to as intellectual assets (IA), intellectual capital (IC) and knowledge-based capital (KBC)— poses difficulties on placing a value, thus enabling access to financial markets. To tackle this challenge, our focus group adopted robust approaches, starting with the consultation with key stakeholders (involved in valuation, financing, technology transfer, intellectual property rights) in order to better understand the needs at national level. Based on the conclusions of this process and combining quantitative and qualitative analyses, we effectively contributed to the formulation of a common valorization method for Europe. Subsequently, we selected 5 SMEs to pilot-test the proposed criteria within a real business context and examine both the adaptability and usefulness of our overall methodology. Our round table discussions led to suggestions for disseminating results and ended up with policy recommendations for the appraisal of intellectual assets as strategic tools for value generation.