Valuation of intangible assets: an artistic science

André Gorius

Chapter 30 in Handbook on Intangibles, 2026, pp 569-582 from Edward Elgar Publishing

Abstract: Knowledge, interacting systems, transactions based on human interactions are the key features of today’s economy. Enterprises’ value being more and more based on intangible assets cannot be a surprise. This does not imply that we know how to value intangible assets, but rather that this exercise will become more and more critical, driven by the need to recognize individually the interacting components of value. Valuation of intangible assets is thus not a simple accounting or mathematical exercise. It starts with a thorough science-based systemic approach, based on irrefutable time-dependent facts and circumstances. Interactions between the systems at stake are not necessarily rational and require from the evaluator more than a good understanding of valuation methods, i.e. also the experience and intuition of which method(s) to retain and necessarily adapt. The chapter shows several real-life examples in various contexts, which stages of the valuation exercise can be considered as (semi-)scientific and which other stages rather belong to art-like activities. Existing mathematical approaches show their limits and accepting these facts allows one to determine, instead of unique values carved in stone, reasonable ranges, inherent to the natural uncertainty related to our knowledge of the future. We are finally showing how new ideas can improve the solidity of the mathematical modelling involved and how more elaborate and specific regulations could support setting a more trustful and rigorous environment is finally addressed.

Keywords: Intangible asset valuation; Artistic science; Systemic approach; Uncertainty; Valuation methods; Mathematical modelling; Regulatory frameworks (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035306367
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/doi/10.4337/9781035306374.00041 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:22045_30

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Jack Sweeney ().