Some Questions of the Property Valuation of Intellectual Creations

At the Intersection of Law and Economics

Abstract

This study examines the theoretical and practical questions of the property valuation of intellectual creations at the intersection of law and economics. Its starting point is the empirical observation that the value of the modern enterprise is predominantly embodied in intangible assets, the measurement of which is only partially possible with the classical accounting and legal conceptual apparatus. The author’s central thesis is that the property value of an intellectual creation is never identical with the content of the legal protection attached to it. Valuation is always a joint function of the legal framework, the purpose of the valuation and the market context. The paper distinguishes between the legal concept of the intellectual creation and the accounting concept of the intangible asset, presents the four value concepts and three classical valuation approaches of the International Valuation Standards (IVS 2025), and then analyses four points of tension where legal protection and economic value diverge: the scope of protection, the measure of damages for infringement, the valuation of know-how and trade secrets, and the relationship between the trademark and brand value. The study also addresses the intersection of the three normative systems of the domestic regulatory context, the question of valuer liability, and the valuation challenges posed by artificial intelligence and data assets as new types of property.