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Intangible assets --- New product development and start-ups

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Intangible property --- Incorporeal property --- Intangible assets --- Intangibles --- Accounting --- Law and legislation --- Accountancy --- Property

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When buying a company, the acquirer analyses and estimates each asset and liability of the
target company in order to fix a reasonable purchase price and, later on, to integrate the acquired
assets and assumed liabilities into the consolidated balance sheet. Furthermore, the breakdown of
the purchase price, called the purchase price allocation, has an important future influence on the
financial values of the combined entity and is specific to each market.
The aim of this dissertation is to analyse the purchase price allocation in the analog and mixed
signal semiconductor market based on a database of more than fifty European and American acquisitions by the main market players between 2010 and 2019. Due to the more subjective aspect
of the intangible assets (technology, customers, trade names,...) and of the goodwill, i.e. the difference between the agreed purchase price and the fair value of the target company, a focus has been
set on their value, their amortisation period, their justification and dependencies.
First, the main trends of each interesting element of the purchase price allocation have been
observed. The goal is to understand what an acquisition and its purchase price allocation in this
technical market are typically like. Table 1 represents an acquisition sheet of a fictive target and
shows the average values and the most frequent justifications of each individual element. It has
also been shown that some values as for example the allocation to technology based intangible
assets depend on the acquisition size whereas other values such as assets related to the trade names
or the trademark do not. The activity of the target is also a source of dependence for the allocation
of intangible assets as well as the goodwill estimation. However the justification of goodwill does
not justify different goodwill values. Finally this analysis allowed us to understand the acquisition
strategy of some acquirers, some are customer driven while others prefer targets with promising
technologies.
It is hoped this study will help acquirers as well as financial analysts understand the purchase
price allocation in this specific market.

Acquisition --- Purchase Price Allocation --- Goodwill --- Intangible assets --- Analog and mixed signal semiconductor market --- Sciences économiques & de gestion > Comptabilité & audit

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The latest System of National Accounts (the 2008 SNA) explicitly recognises, for the first time, that expenditures on research and experimental development (R&D) should be recorded as capital formation. This is a natural extension to the 1993 SNA, which recommends recording many acquisitions of software and databases, mineral exploration, and entertainment, artistic and literary originals as capital formation, too. These products have a common characteristic, namely that their value reflects the underlying intellectual property they embody, which is why they are referred to collectively in this publication as intellectual property products (IPPs). But they also share another important characteristic: their measurement is not straightforward, and in the absence of clear guidance it is highly likely that estimates will not be comparable between countries. This Handbook is designed to provide that guidance by considering IPPs collectively, based on their common characteristics, by type, based on any specificities, such as data availability, and by detailed transaction - for example the valuation of IPPs that have been produced for internal use by their developers, the valuation of unsuccessful IPPs, and the production of IPPs produced and made freely available by government.

BUSINESS & ECONOMICS --- General --- Intellectual property --- Management Styles & Communication --- Management --- Business & Economics --- Economic aspects --- Intangible property. --- Economic aspects. --- Incorporeal property --- Intangible assets --- Intangible property --- Intangibles --- Law and legislation --- Property

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For the recorded history of management, the world has managed value creation according to what can be seen, touched and proven. In today's knowledge-based economy, value creation is derived primarily from how well firms manage intangibles (knowledge, service, expectations, response time, innovation, change management, etc). The large capital outlays that signified the manufacturing economy are no longer required. In fact, such 'tangibles' now explain less than 20% of the value of most publicly listed firms. For example, Time Warner has only 6.49% of its value attributable to tangibles. As such

Intellectual capital --- Intangible property --- Knowledge management. --- Management. --- Accounting. --- Valuation. --- Management of knowledge assets --- Incorporeal property --- Intangible assets --- Intangibles --- Law and legislation --- Management --- Information technology --- Organizational learning --- Property