Value Drivers Register
Definition
The formal, auditable record of the intangible assets a business owns, with each asset individually named, described and classified against the Opagio 12 intangible value drivers. It is the output of Guided Asset Discovery, the first step of The Opagio Method, and it exists because the accounting standards leave most intangible value undocumented: IAS 38 and FRS 102 Section 18 prohibit recognising internally generated intangibles on the balance sheet, so brand, software, customer relationships, data and know-how built in-house appear nowhere in the filed accounts. The Register closes that documentation gap. Every entry carries the evidence that supports it, so the record can be examined by a valuer, a lender's credit team, an acquirer's diligence team or an auditor rather than taken on trust — the audit trail, not the assertion, is what gives the Register its standing. Once assets are on the Register they can be valued using recognised methods such as relief from royalty, multi-period excess earnings, with-and-without and cost, presented in a funding or lending conversation, and tracked over time as investment continues. Opagio's implementation is the Opagio Value Drivers Register™, which supersedes the earlier informal labels asset registry, growth asset register and intangible asset register.
Complementary Terms
Concepts that frequently appear alongside Value Drivers Register in practice.
An intangible asset that meets the identifiability criteria under IFRS 3 or IAS 38, meaning it is either separable from the entity (can be sold, transferred, or licensed independently) or arises from contractual or legal rights. Identified intangible assets are recognised separately from goodwill in purchase price allocations.
The documented record that establishes an intangible asset exists, where it sits in the Opagio 12 framework, what it is worth, and how that value can be defended at a measurement date. Evidence comes in four forms: identification (the asset is named and classified), provenance (the source documents are attached), measurement (a valuation method has been applied with documented inputs), and persistence (the evidence is reviewed and updated on a defined cadence).
A chronological record of system activities, transactions, or document changes that provides a verifiable history of who did what, when, and why. Audit trails are essential for regulatory compliance, fraud detection, and internal controls, and are required by standards including SOX, GDPR, and ISO 27001.
A hierarchical diagram that breaks down a company's enterprise value into its component financial and operational drivers, mapping how inputs such as customer acquisition, pricing, retention, and productivity combine to produce revenue, profit, and cash flow. Value driver trees are essential for identifying where intangible asset investments create the greatest impact.
The International Accounting Standard governing the recognition, measurement, and disclosure of intangible assets. IAS 38 requires that an intangible asset be identifiable, controlled by the entity, and expected to generate future economic benefits.
The Opagio attestation that an asset, company, or practitioner meets a defined evidence-quality standard. Modelled on the hallmark on silver: the hallmark certifies that the metal has been tested by an independent assay office and meets a defined standard of purity — it does not certify that the silver is valuable, or that any particular price should be paid for it.
The IPEV evidence standard, set out in the commentary under paragraph 2.5 of the Guidelines: information that is known or knowable as of the measurement date is in scope at every quarterly Fair Value remark, whether the founder surfaced it or not. The Guidelines define it as facts, conditions or observable information that exist at the measurement date and are available to the valuer, or would reasonably be available through routine inquiry or due diligence; information that becomes known, or events that occur, after the measurement date are subsequent events and are not known or knowable at that date.
The Opagio 12 is Opagio's framework of twelve intangible value drivers that determine a company's hidden enterprise value: Brand & Reputation, Customer Capital, Technology & Innovation, Data & Intelligence, Network Effects & Platforms, Human Capital, Organisational Capital, Ecosystem & Partnerships, Content & IP, Regulatory & Compliance, Switching Costs & Lock-In, and Culture & Ways of Working. Because roughly nine-tenths of a modern private company's value sits in intangible assets, and most of it never appears on the balance sheet, a buyer effectively prices a business through these drivers whether they name them or not.
Further Reading
Discover: The First Step of The Opagio Method
How the Register is built, what it contains and who uses it.
Read more →Opagio 12 Intangible Value Drivers
The twelve driver categories every asset on the Register is classified against.
Read more →AI and IAS 38: When Can You Capitalise AI Development Costs?
IAS 38 sets six criteria for capitalising development costs, but applying them to AI projects is fraught with ambiguity. This article maps each criterion to AI development realities and provides practical guidance for CFOs and accountants navigating the recognition question.
Read more →Related FAQ
What are the implications of crypto and digital assets for intangible asset accounting?
Under IFRS most crypto-assets are accounted for as intangible assets under IAS 38 — held at cost less impairment, so falls in value are recognised but gains are not — while US GAAP (ASU 2023-08) now measures qualifying crypto-assets at fair value.
Read full answer →How do you value in-process research and development (IPR&D)?
IPR&D is valued using an income approach (typically MPEEM) with probability-adjusted cash flows reflecting the likelihood that the R&D project will reach commercial completion.
Read full answer →How do you value favourable and unfavourable contracts in a PPA?
Favourable contracts are valued at the present value of the above-market benefit they provide versus current market terms. Unfavourable contracts represent liabilities measured at the below-market difference.
Read full answer →Put this knowledge to work
Use Opagio's free tools to measure and grow the intangible assets that drive your business value.