1 Identification of Intangible Assets 1
2 Identification of Intellectual Property Assets 19
3 Reasons to Conduct an Intangible Asset Valuation 45
4 Reasons to Conduct an Intangible Asset Damages Analysis 59
5 Intangible Asset Valuation Principles 71
6 Intellectual Property Valuation Principles 99
7 Intangible Asset Damages Principles 111
8 Valuation Data Gathering and Due Diligence Analysis 133
9 Damages Due Diligence Procedures 147
10 Structuring the Intangible Asset Analysis Assignment 161
11 Intangible Asset Valuation Process 171
12 Intangible Asset Economic Damages Process 179
13 Highest and Best Use Analysis 209
14 Cost Approach Methods and Procedures 219
15 Cost Approach Valuation Illustrative Example 237
16 Market Approach Methods and Procedures 257
17 Market Approach Valuation Illustrative Example 287
18 Income Approach Methods and Procedures 295
19 Income Approach Valuation Illustrative Example 369
20 Valuation Synthesis and Conclusion 403
21 ASC 820 and Fair Value Accounting 415
22 ASC 805 and Acquisition Accounting 429
23 Fair Value of Intangible Assets Not Acquired in a Business
Combination 459
24 Fair Value Accounting Goodwill 471
25 Intellectual Property 485
26 Contract Intangible Assets—continued Valuation Methods 520
27 Customer Intangible Assets 537
28 Data Processing Intangible Assets 579
29 Human Capital Intangible Assets 627
30 Licenses and Permits 643
31 Technology 661
32 Engineering 679
33 Goodwill 697
34 Reporting the Results of the Intangible Asset Analysis 719
Selected Bibliography 729
Index 737
Robert F. Reilly is a managing director in the Chicago office of
Willamette Management Associates, a business valuation, forensic
analysis, and financial opinion firm. Prior to joining the firm in
1991, he was a valuation services partner for accounting firm
Deloitte & Touche. Robert specializes in the valuation of
businesses, securities, and intangible assets for transaction,
taxation, accounting, financing, and litigation purposes. He also
specializes in economic damages analysis, license and other royalty
rate analysis, and intercompany transfer price analysis related to
intangible assets and intellectual property. He is a CPA, chartered
financial analyst, certified management accountant, and chartered
global management accountant, and he is accredited in business
valuation and certified in financial forensics. He is also a
certified business appraiser, certified valuation analyst,
certified valuation consultant, certified review appraiser,
certified real estate appraiser, and state-certified general
appraiser. Mr. Reilly serves in an editorial capacity for several
professional journals, including Valuation Strategies, ABI Journal,
Journal of Accountancy, and Construction Accounting and Taxation.
He received his BA in economics and his MBA in finance from
Columbia University. He is an inductee into the AICPA business
valuation Hall of Fame.
Robert P. Schweihs is a managing director in the Chicago office of
Willamette Management Associates. Before joining the firm in 1991,
Bob was a partner and national director of valuation services at
the accounting firm Deloitte & Touche. Bob’s practice includes
intellectual property valuation, economic damages, and intercompany
transfer price analyses. These analyses are performed for both
transactional and notational purposes and relate to license royalty
rate estimation, purchase accounting, financing, securitization and
collateralization, joint venture formation and transactions,
taxation planning and compliance, not-for-profit entity regulatory
compliance, structuring commercialization and exploitation
programs, and infringement claims and other types of commercial
litigation matters. He has testified before federal, state, and
local courts. Bob holds a BS in engineering from the University of
Notre Dame and an MBA in finance and economics from the University
of Chicago Booth School of Business. He is an accredited senior
appraiser designated in business valuation and a certified business
appraiser.
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