When a business is acquired, restructured, or seeking investment, one question surfaces immediately: what intangible assets does this company actually own? The answer determines purchase price allocation, balance sheet recognition, tax amortisation benefits, and strategic investment decisions. Yet most companies cannot list their intangible assets beyond the obvious ones — patents and trademarks.
This guide catalogues 35 distinct types of intangible assets, classified under both the IFRS 3 / ASC 805 accounting standard (used in formal transactions) and the Corrado-Hulten-Sichel (CHS) growth accounting framework (used for strategic decision-making). Understanding both classification systems is essential because they serve different purposes and capture different assets.
Most businesses own far more intangible assets than they realise. A complete inventory — using both accounting and strategic frameworks — is the foundation for accurate valuation, effective capital allocation, and defensible purchase price allocations.
Under IFRS 3 (Business Combinations), intangible assets acquired in a business combination are recognised separately from goodwill if they meet either the separability criterion or the contractual-legal criterion. The standard organises identifiable intangible assets into five classes.
These assets are used primarily in the marketing or promotion of products and services.
| # | Asset Type | Example | Typical Valuation Method |
|---|---|---|---|
| 1 | Trademarks and trade names | Nike swoosh, Apple logo | Relief-from-Royalty |
| 2 | Service marks | Certification marks, collective marks | Relief-from-Royalty |
| 3 | Trade dress | Distinctive packaging, restaurant decor | Relief-from-Royalty |
| 4 | Newspaper mastheads | Financial Times, The Economist | Relief-from-Royalty |
| 5 | Internet domain names | business.com, insurance.co.uk | Market Approach |
| 6 | Non-competition agreements | Executive non-competes post-acquisition | With-and-Without |
When Unilever acquires a consumer brand, the trademark and trade dress are often the most valuable identifiable intangible assets. A Relief-from-Royalty valuation might assign the brand name a value of 3-5x the annual royalty savings, capitalised over its useful life.
These assets arise from relationships with customers or clients.
| # | Asset Type | Example | Typical Valuation Method |
|---|---|---|---|
| 7 | Customer lists | Verified contact databases | Cost Approach |
| 8 | Customer relationships | Recurring B2B contracts | MPEEM |
| 9 | Order or production backlog | Unfulfilled signed orders | Income Approach |
| 10 | Customer contracts | Multi-year service agreements | MPEEM |
| 11 | Non-contractual customer relationships | Repeat purchase patterns | MPEEM |
Customer relationships are frequently the single most valuable identifiable intangible asset in service-sector acquisitions, often representing 30-50% of total identified intangible value.
These assets arise from the right to benefits from artistic works.
| # | Asset Type | Example | Typical Valuation Method |
|---|---|---|---|
| 12 | Literary works and copyrights | Published books, articles | Relief-from-Royalty |
| 13 | Musical compositions | Song catalogues, scores | Income Approach |
| 14 | Pictures and photographs | Stock photo libraries | Income Approach |
| 15 | Video and audiovisual material | Film libraries, training content | Income Approach |
These assets represent the value of rights arising from contractual arrangements.
| # | Asset Type | Example | Typical Valuation Method |
|---|---|---|---|
| 16 | Licensing and royalty agreements | Software licences, franchise rights | Income Approach |
| 17 | Construction permits | Planning permissions, building permits | Market Approach |
| 18 | Franchise agreements | McDonald's franchise rights | MPEEM |
| 19 | Operating and broadcast rights | Spectrum licences, TV broadcast rights | Relief-from-Royalty |
| 20 | Servicing contracts | Mortgage servicing rights | Income Approach |
| 21 | Employment contracts | Key executive agreements | With-and-Without |
| 22 | Use rights | Water rights, air rights, mineral rights | Market Approach |
These assets arise from contractual or non-contractual rights to use patented or unpatented technology.
| # | Asset Type | Example | Typical Valuation Method |
|---|---|---|---|
| 23 | Patents and patent applications | Drug patents, technology patents | Relief-from-Royalty |
| 24 | Trade secrets and know-how | Manufacturing processes, formulas | With-and-Without |
| 25 | Software and databases | Proprietary platforms, data warehouses | Cost or Income Approach |
| 26 | Unpatented technology | Algorithms, proprietary methodologies | With-and-Without |
The IFRS 3 classification only captures assets that can be identified in a business combination. The CHS framework, developed by economists Corrado, Hulten, and Sichel, captures a broader set of intangible investments — including those that accounting standards typically expense rather than capitalise.
The CHS framework adds three critical asset categories that IFRS 3 does not recognise: Human Capital, Organisational Capital, and Design. These are often the most strategically important intangible assets a company owns — and the ones Opagio specifically measures through the Intangible Asset Questionnaire.
| # | Asset Type | CHS Category | Why It Matters |
|---|---|---|---|
| 27 | Workforce skills and expertise | Human Capital | Drives productivity and innovation |
| 28 | Training investment | Human Capital | Compounds over time as capability |
| 29 | Management practices | Organisational Capital | Determines execution quality |
| 30 | Organisational culture | Organisational Capital | Affects retention, innovation, speed |
| 31 | Proprietary processes | Organisational Capital | Source of operational efficiency |
| 32 | Product and service design | Design | Differentiates offering in market |
| 33 | UX/UI design systems | Design | Drives engagement and retention |
| 34 | Architectural design | Design | Physical environment as brand asset |
| 35 | Data assets | Technology (CHS) | Training data, analytics, proprietary datasets |
The right classification depends on your context.
For a complete valuation, most companies need both frameworks working together. The IFRS 3 classification ensures compliance and defensibility in transactions. The CHS framework ensures that the strategically important assets — particularly human capital and organisational capital — are visible and measurable.
Use the Opagio Valuator to identify and value your intangible assets across both frameworks, or take the Intangible Asset Questionnaire to discover which of these 35 asset types your business already owns.
| IFRS 3 Class | CHS Category | Assets Captured |
|---|---|---|
| Marketing-Related | Brand & Marketing | Trademarks, trade names, domain names |
| Customer-Related | Brand & Marketing / Economic Competencies | Customer lists, relationships, contracts |
| Artistic-Related | Innovative Property | Copyrights, creative works |
| Contract-Based | Various | Licences, permits, franchise rights |
| Technology-Based | Computerised Information / Innovative Property | Patents, software, databases |
| Not in IFRS 3 | Human Capital | Workforce skills, training |
| Not in IFRS 3 | Organisational Capital | Processes, culture, management |
| Not in IFRS 3 | Innovative Property (Design) | Product design, UX, architecture |
IFRS 3 captures 26 asset types across five classes. The CHS framework adds 9 more — particularly Human Capital and Organisational Capital — that are invisible to accounting standards but frequently the most important drivers of long-term business value.
Each intangible asset type has a preferred valuation approach. The three primary methods are:
Relief-from-Royalty (RFR) — estimates value based on the royalty payments the owner avoids. Best for brands, patents, and technology with observable licensing rates.
Multi-Period Excess Earnings Method (MPEEM) — isolates the earnings attributable to a specific intangible after deducting returns on all other assets. Best for customer relationships and core technology.
With-and-Without Method — compares the business value with and without the intangible asset. Best for workforce, non-competes, and assets without market comparables.
Cost Approach — estimates the cost to recreate or replace the asset. Best for software, databases, and assembled workforce.
Market Approach — uses comparable transaction data. Best for domain names, licences, and assets with active markets.
For a deeper exploration of each method, see our Valuation Methods academy programme or use the Opagio Calculator to model specific asset valuations.
Practitioners regularly make these errors when identifying and classifying intangible assets:
Underidentifying intangible assets in a PPA is not conservative — it is incorrect. It overstates goodwill, reduces tax amortisation benefits, and creates future impairment risk. Regulators and auditors increasingly scrutinise this.
Whether you are preparing for an acquisition, building a case for investment, or simply trying to understand where your company's value comes from, a complete intangible asset inventory is the essential first step.
Ivan Gowan is the Founder and CEO of Opagio. With 25 years of experience in financial technology — including senior roles at IG Group — he leads Opagio's mission to make intangible assets visible, measurable, and actionable. Meet the team.
A clear guide to the difference between goodwill and identifiable intangible assets. Covers recognition rules, impairment testing, tax implications, and why the distinction matters for investors, acquirers, and CFOs.
Read more →A step-by-step guide to recognising and measuring intangible assets under IFRS 3 Business Combinations. Covers the identification criteria, fair value measurement, and purchase price allocation process with practical examples.
Read more →IAS 38 excludes the majority of intangible capital from the balance sheet. This CFO guide explains what the standards require, where the gaps are, and how voluntary disclosure frameworks can close the information asymmetry that suppresses valuation. Financial reporting framework showing the gap between recognised intangible assets under IAS 38 and the full intangible capital base of a modern company
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