It can be seen on no financial statement, however, it represents up to two thirds of the value of any business. The theme of a breakfast debate organised by Synergia on the 6th of May, intangible assets are one of our key sources of competitiveness.

For the last fifteen years, immaterial elements have come to dominate the value of our businesses; sometimes they are quantifiable, sometimes less, and can include, for example, the value of their patent and trademark portfolio or the creative capacity of their workforce. “We estimate that, today, intangible assets generate two thirds of a business’s turnover,” highlights Didier Dumont, associate director of Goodwill Management and a member of the Observatoire de l’Immatériel (Intangible Assets Observatory) scientific committee. But what does such capital actually include? “There are nine categories of intangible assets: client (goodwill), human and organisational capital, information systems, knowledge, trademarks, partners, shareholders and environment,” adds Didier Dumont. The importance of each of these assets varies from one business to another; hence, trademark is more important to Coca-Cola than to Cap Gemini, which relies essentially on human capital.

Developing an evaluation method

There are methods to evaluate these assets. The Observatoire de l’Immatériel offers a free diagnostic tool via its website www.observatoire-immateriel.com. Generally speaking, “assets need to be broken down into criteria. For example, human capital can be broken down into skills, motivation, individual qualities, staff loyalty…, then results need to be converted into marks.” explains Didier Dumont. Guy Jacquot is in charge of assessing trademarks and patents for Sorgem, a market study consultancy. “There are several reasons that can lead a business to evaluating a trademark (accounting, financial, strategic). The method needs to be in keeping with the motive,” he highlights. Evaluation can be made by assessing the costs that such assets generate, with regard to the market, or by the income they create.

Funding the immaterial

In any case, evaluating these assets is worthwhile from many a point of view, be it for a business leader looking to successfully manage his/her business or to appreciate its true value, to justify such value or the worth of a specific project. It is an operation that can prove fruitful when looking for funding, even if financial institutions are generally reluctant when it comes to funding immaterial capital. That’s precisely why Oséo Basse-Normandie, with support from the Regional Council, has developed new products to support businesses, particularly those that innovate. Among such support: reimbursable advances, the Contrat de Développement Innovation (Innovation Development Contract), the Prêt Participatif d’Amorçage (Participatory Priming Loan)… “In 2008,” notes Alexandre Jeanne, Innovation delegate for Oséo Basse-Normandie, “we accompanied some 1,200 businesses for a total funding of 120 million Euros.”

Didier Dumont
Tél. : 01 49 26 05 49

Guy Jacquot
Tél. : 01 40 67 20 00

Alexandre Jeanne
Tél. : 02 31 46 76 36

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