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The challenge.
Engage Works needed to understand the value of its IP and intangible assets, particularly those relating to CoCreate, across three different scenarios: getting investment or funding, either for the company or the software; a potential sale, either of the software or the company; or licensing the software to reseller/distributor partners globally. Dave Wilson, Engage Works’ Strategic Project Director at the time it used Sollomon, said, “We have developed custom built software programmes and apps for many clients, and it was important for us as a company to retain the IP on the software modules to allow us to develop and re-use modules in new solutions. This in turn developed into a software platform that allowed us to customise the features and branding to new clients – the motivation for us with the platform was to eventually develop a fully licensable product that could scale and increase our IP and organisational value.”
The solution.
The result.
Between 2016 and 2018, Engage Works used Inngot’s Sollomon valuation tool three separate times to help inform decisions around the future strategic direction it should take with its IP. The first valuation helped inform the development of the Co Create platform and how best to monetise it. Subsequent valuations explored how CoCreate’s value had increased, and then looked at potential values for different versions of Co- Create then being developed.
If I met someone else who had developed a piece of software, I would ask them what they’d done from an IP point or view, have they had it valued. If they hadn’t, I’d certainly recommend Inngot’s tools because they provide independent validation of the value of your IP. There’s some clever intelligence behind Inngot’s products – it isn’t just a person estimating a value. It’s really helpful to have an independent valuation of your IP. Inngot has gravitas – we can reference the valuation in negotiations with interested parties.
