Cuadro Legal has created a new service through its Intellectual Property practice area, led by Isabel Piedrahita, which integrates the identification, protection, valuation, and accounting of a company’s intangible assets, including those protected by intellectual property regulations. All of this is aimed at value generation, in accordance with your company’s strategy.
How to manage your company's intangible assets?
Our mission at Cuadro Legal is to provide services that generate value for our clients, and through experience, we have learned that we can achieve this with proper advice on managing your company’s intangible assets. Through our new Intellectual Property area, we have designed an intangible asset management advisory service that is flexible, as it adapts to the size and goals of your organization; interdisciplinary, because it integrates fiscal and tax management and the valuation of intangibles; and high-level, to advise you in each of the four stages of the management process: identification, protection, valuation, and exploitation, always from the perspective of your company’s strategic goals.
What are intangible assets?
IAS 38 defines an intangible asset as “an identifiable non-monetary asset without physical substance.” In other words, it is a resource controlled by the company, originating from past actions, and from which future economic benefits are expected. Furthermore, it differs from other assets because it can be sold, transferred, licensed, or rented independently, or because it arises from contractual or legal rights.
Within these intangible assets, there are different categories such as:
Intangible assets purchased separately: These are assets that the company acquires directly, such as patents, registered trademarks, licenses, and economic copyrights over various creations like software. Their cost includes the price paid and the expenses necessary to make them ready for use.
Intangible assets acquired in a business combination: When one company buys another, it identifies and separates the intangible assets (excluding elements that make up “goodwill”) and values them by applying specific methodologies.
Internally developed intangible assets: These are created within the company itself and are divided into two stages:
Research phase: Here, expenses are incurred to obtain new knowledge. At this stage, it cannot be guaranteed that they will generate future benefits.
Development phase: If the company demonstrates that it can complete the project and use or sell the result, and that costs can be accurately measured, then it is possible to speak of the capitalization of an intangible asset.
Intangible assets received by government grant or free transfer: In some cases, the company may obtain these assets without payment, for example, through government financing. There are special rules for measuring and recognizing both the asset and the financing.
What happens when a company's intangible assets are not managed?
The main consequences of non-existent or inadequate intangible asset management in your company are:
- Loss of competitive advantage: Failing to properly leverage assets such as the brand, copyright-protected creations like software, databases, business secrets, patents, and other intangible assets can cause the company to lose its position against competitors.
- Undervaluation of the company: By failing to recognize and manage these assets, financial statements may not reflect the true value of the company, affecting its ability to attract investors or secure financing.
- Inefficient resource allocation: Without a clear strategy, resources may be invested in areas that do not generate the greatest benefit, wasting capital and effort.
- Risks in intellectual property protection: Poor management can lead to the loss or weakening of rights over patents, trademarks, or business secrets, exposing the company to litigation or unfair competition.
- Difficulties in innovating: Intangible assets are closely related to the ability to innovate. Without proper management, opportunities to develop new products or services may be lost.
- Strategic decisions based on incomplete information: The lack of proper administration of these assets makes it difficult to have accurate data on their value and potential, which can affect long-term decision-making.
This is how we protect your rights and manage your assets at Cuadro Legal
Along with our comprehensive intangible asset management advisory service, we offer training, advisory, consulting, and judicial and extrajudicial representation services regarding:
- Due Diligence in intellectual property matters.
- Valuation of intangible assets.
- Preparation of risk matrices in intangible asset management.
- Drafting and management of contracts regarding intellectual property rights (copyright and related rights, and industrial property).
- Protection of creations (invention patents, utility model patents, industrial designs, new plant varieties).
- Procedures before INVIMA.
- Registration or filing of distinctive signs (trademarks, commercial slogans, trade names, commercial emblems).
- Dispute resolution (Alternative Dispute Resolution mechanisms such as conciliation, arbitration, or friendly settlement, and strategic litigation regarding judicial actions related to intellectual property and unfair competition).
We work with specialized and committed lawyers:
Isabel Piedrahita: Litigating lawyer and university professor with 18 years of experience in intellectual property, business law, and alternative dispute resolution mechanisms. Specialist in business law and civil procedural law, with a Master’s in Intellectual Property and New Technologies Law. Member of the Colombian Institute of Procedural Law.
Juan José Galindo: Litigating lawyer specializing in business law, with high-level studies in intellectual property.
Conclusion:
We advise you to identify, protect, and value the key assets that drive success in today’s companies. At Cuadro Legal, we have an expert team with extensive experience, ready to transform your company’s intangible assets into the engine that drives the achievement of your business objectives.
Contact us via WhatsApp and let’s talk about your company.
