'Accounting' for Intangibles - Taxation, Intellectual Property and the Law ... Lost in Translation?

Frequently, practitioners encounter client queries relating to the ‘value' of their intangible asset (including, but not limited to, identifiable intangible assets other than intellectual property and goodwill, intellectual property such as trademarks, patents, copyright or indeed goodwill). Such questions may, for example, arise the context of a merger, sale or internal business restructure. There exist a number of facets for practitioners to consider even before they ‘pass the buck' to an accounting practitioner or expert valuer or both. This article highlights some of these facets, but with a focus on ‘brands', and outlines some practical tips and traps for practitioners in countries including the United States, Australia and Canada