Trademark Valuation A Tool for Brand Management

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  • Edition: 2nd
  • Format: Hardcover
  • Copyright: 2013-11-25
  • Publisher: Wiley

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A practical and useful resource for valuing trademarks

The Second Edition of Trademark Valuation is a fresh presentation of basic valuation principles, together with important recent changes in worldwide financial reporting regulations and an update on the current worldwide legal conditions and litigation situation as they relate to trademarks.

A new section discussing issues surrounding valuation of counterfeits and the economic effects of trademark counterfeiting is included in this informative Second Edition.

  • Considers methods to determine the real value of your trademark and exploit its full potential
  • Offers dozens of case studies that illustrate how to apply valuation methods and strategies to real-world situations
  • Communicates complex legal and financial concepts, terms, principles, and practices in plain English
  • Discusses GATT, NAFTA, emerging markets, and other international trademark considerations

Author Biography

Gordon V. Smith is Chairman Emeritus of AUS Inc., a multidiscipline consulting and market research firm, a member of the Board of Trustees of the University of New Hampshire School of Law, and Distinguished Professor of IP Management at the law school's Franklin Pierce Center for Intellectual Property. During his long consulting career, he has advised clients on the value of intellectual property and closely held stock and has consulted in support of transactions, litigation, and tax-related matters. He is the author and coauthor of several books on IP valuation and exploitation strategies. An active international lecturer, Smith is Chair of the Advisory Board of the Licensing Economics Review, as well as an Adjunct Professor at the National University of Singapore (Division of Engineering & Technology Management). Mr. Smith earned an A.B. degree from Harvard University in 1959.

Susan M. Richey is a Professor of Law at The University of New Hampshire School of Law (formerly the Franklin Pierce Law Center) and a former Associate Dean of the law school. She recently completed an appointment as Visiting Distinguished Scholar with the International Economic and Commercial Law Group at the University of Limerick in Ireland. Richey has been involved in numerous programs teaching intellectual property concepts to nonlawyers, including workshops sponsored by the World Intellectual Property Organization and UNITRAD, the trainingarm of the United Nations. Active in the International Trademark Association (INTA), she served a three-year appointment as an editor of The Trademark Reporter, a scholarly publication of INTA, a two-year appointment as Chair of INTA's Panel of Neutrals, and she currently serves on INTA's Academic Committee.

Table of Contents



Chapter 1 The Nature of a Trademark

Trademark Defined

The Legal Underpinnings of Trademarks

Trademarks, Brands and the Products and Services They Represent


Chapter 2 Valuation Basics

The Business Enterprise

Valuation Principles

Property and Rights to Property

Premise of Value

Valuation Methods


Chapter 3 Using Financial Information

Financial Reporting

Financial Statements and Value: Disaggregating S&R’s Assets

Tax Issues


Chapter 4 Trademark Valuation

Cost Method

Estimating Reproduction and Replacement Cost

Using the Cost Method for Trademarks

Market Method

Using the Market Method for Trademarks

Income Method

Using the Income Method for Trademarks


Chapter 5 Trademark Economic Benefit

Future Economic Benefit

Quantifying Economic Benefit

Direct Techniques

Indirect Techniques


Chapter 6 Income Method
Economic Life and Risk

Defining Economic Life

Trademark Economic Life & Pattern

Survivor Curves and Studies of Historical Life

Forecasting Growth

S-Curves in General

Elements of Risk


Chapter 7 The Income Method
Putting It All Together

Trademark Valuation by Residual

Multiple Exploitation Scenarios

Valuation Based on Income Allocation


Chapter 8 Trademark Licensing Economics

Licensing Economics

Some General Thoughts

Royalty Quantification

Quantification Techniques

Scoring and Rating Techniques

Discounted Cash Flow Model

Dividing the Economic Benefit

Another Analytical Technique

Rules of Thumb


Chapter 9 Quantification of Harm in Trademark Enforcement Cases

Civil Trademark Enforcement Actions

Monetary Recovery in Civil Actions

Enhancement of Monetary Recovery

Valuing Counterfeits for Purposes of Criminal Sentencing


Chapter 10 Special Trademark Valuation Situations

Trademarks in Finance

Trademarks in Bankruptcy

Valuation Directions

Trademarks and Ad Valorem Taxes


Chapter 11 Global Trademark Issues

Trademark Holding Companies

The Scourge of Trademark Trolls

International Valuation Standards

Counterfeiting:  A Worldwide Contagion

Political / Investment Risk


Appendix A Basic Investment Principles

Appendix B Theoretical Foundations for the Determination of a Fair Rate of Return on Intellectual Property

Appendix C Investment Rate of Return Requirements


Appendix D Predicting Sales and Revenues for New Ventures with Diffusion Models (Richard A. Michelfelder, Ph.D., Rutgers University, School of Business – Camden and Maureen Morrin, Ph.D., Temple University, Fox School of Business – Philadelphia)

New Product Sales Forecasting Models: Product Diffusion

Types of Product Diffusion Models

The Bass Model

Caveats of the Bass Model



Appendix E Dealing with Uncertainty and Immeasurables in Trademark Asset Valuation (William J. Murphy)

Elements of Valuation Analysis

Decision Analysis and Decision Trees

Monte Carlo Techniques

Obtaining Information from Indirect Observation

Option Pricing Models

Good Enough Decision Making


About the Authors


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