Does your business own intellectual property? Did you know it can help add a positive impact to the total worth of your business? Yes! Any intangible property such as a patent, accreditation, and trademark can go a long way in creating an economic impact. Thus, calculating its worth becomes essential to know how much your business is worth. Besides, several benefits of getting IPR (Intellectual Property Rights) Valuation for your business are discussed here.
Benefits of IPR Valuation
The core objective of an IP valuation is to predict how such an asset will impact the future sales of a business based on market industry data. While valuations are usually considered beneficial during sales and acquisitions, an IPR valuation has a different advantage. It can be used to set the right cost of royalty for letting others use an intellectual property your company owns.
Besides, it can also be used to promote the promotion, latest technologies and knowledge’s dissemination, provide support for innovation, build new enterprises, and other benefits. And, not to forget, it also matters in case of a business sale/purchase deals. Unlocking the right value of a company's intangible asset helps set the right price of sale, considering trademarks, patents, and trade secrets among others.
However, to get the IPR valuation done right, you need to find the right business valuation expert. You can look for service providers having relevant experience and expertise in evaluating businesses of the same industry and holding similar intangible assets. And you can get references from other business owners who recently got their business valued by experts.