The IVSC valuation standards from 2008 helped to formalise approaches to valuation which were then used to help create ISO 10668.
ISO 10668 specifies three alternative brand valuation approaches: Market, Cost, and Income Approaches.
As the value of brands stems from their ability to generate higher profits for either their existing or potential new owners, the Royalty Relief method - a variation of the Income Approach - is the most widely accepted.
There are a multitude of reasons one might complete a brand valuation: purchase price allocation, damages litigation, capital gains tax planning, brand positioning and marketing budget allocation.
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