Intellectual Property Valuation in Ireland
Intellectual Property Valuation in IrelandUpdated on Friday 09th December 2016
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Intellectual property valuation in Ireland refers to the procedures which are performed in order to establish a value for various types of intellectual property assets. There are several methods on which an intellectual property asset can be estimated at its commercial value, applicable under the regulations established by the World Intellectual Property Organization (WIPO). Our team of Irish lawyers can provide legal assistance for the businessmen or natural persons who are interested in evaluating the commercial price of a patent or other intellectual property asset.
The value of intellectual property in Ireland
In order to establish the value of an intellectual property asset in Ireland, the investors should register the respective patent, trademark or any other intellectual property work with the relevant authorities in Ireland. It is not compulsory to register intellectual property here, but it is recommended to proceed to this legal action, as the rights of the person who created the respective work will be protected under the applicable law.
Through intellectual property valuation, the investors will be able to establish a fair price for their products or services, which can be sold on local or international market. The price will be set up in accordance with the value that the products will bring on the market. It also takes into account the novelty of the products. Our Irish law firm can offer more details on this matter.
Intellectual property valuation methods
As mentioned above, WIPO sets up several methods for the valuation of intellectual property (IP). Ireland is a member –state of the WIPO and thus, such regulations are also applicable here.
According to WIPO, an IP asset can refer to a tangible or intangible asset, which has the potential of generating financial returns.
As a general rule, the value of IP products and services are determined based on their capacity of generating financial benefits for the owner, as well as on their ability to increase the value of similar products.
It is important to know that 22,6% of the employment in Ireland is related to the IP industry.
Please contact our lawyers in Ireland for more details related to the intellectual property valuation methods available here.