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World Intellectual Property Organization and International Valuation Standards Council Announce Collaboration to Promote Intellectual Property Valuation

February 15, 2023

Recently, WIPO signed a Memorandum of Understanding (MoU) with the International Valuation Standards Council (IVSC), a key global standard-setter for the valuation practitioners and the financial community. IVSC's mission as independent, not-for-profit, private sector standards organization is to promote transparency, credibility, and integrity in the valuation profession, and to enhance the international comparability and consistency of valuation practices.

Valuation plays a critical role in progressing intangible asset finance. During WIPO’s recent High-level Conversation on Unlocking Intangible Asset Finance, valuation came up regularly as a significant obstacle to moving intangible asset finance from the margins to the mainstream. To make progress, WIPO is strengthening ties with partners to make progress and address challenges such as valuation and accounting treatment of intellectual property and other intangible assets. The signing of the MoU with IVSC marks an important milestone in that work.

The MoU will facilitate the exchange of information and expertise between the two organisations, and will include collaboration in research and development activities, training and capacity building, and the promotion of best practices in the valuation of intellectual property and other intangible assets.

"WIPO is pleased to join forces with the IVSC in this important initiative," said WIPO Assistant Director General Marco M. Alemán, who leads the Intellectual Property and Innovation Ecosystems Sector, “Today, both commercial and public sector actors recognize the systemic importance of consistent and comparable valuation of intellectual property and other intangible assets. That is why WIPO is focusing its efforts on progressing this topic. We are working with key partners, such as global and regional organizations that set standards on valuation of intangible assets, to ensure that valuation professionals have the tools and resources they need to do their work. This MoU is a major step in this direction.”

"We are delighted to be partnering with the World Intellectual Property Organization," said IVSC Chief Executive, Nick Talbot. "Intellectual property is a rapidly growing asset class, and this MoU will help ensure that valuation professionals have the knowledge and skills they need to provide accurate and reliable valuations of these assets."

Building this relationship and further links with other participants in the IP valuation and finance ecosystems, is part of WIPO’s Action Plan on Unlocking Intangible Asset Finance. Progress needs to be made to help IP owners and other stakeholders understand the value their intellectual property holds, to enable it to be used as a financial asset. As part of work in this area, WIPO will also establish an Expert Consultative Group to advance how valuation can support better access to financing.

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