Stream is being spun out of the VAT IT Group, and as part of the planning for that move, international accountancy firm BDO UK suggested to Willem Van den Berg CA (SA), Stream’s Chief Financial Officer, that it should use Inngot’s online IP identification and valuation platform to inform future IP strategy and help to quantify any tax issues relating to the IP transfer for BDO to address. BDO had previously conducted IP valuations for parent company VAT IT using Inngot’s Sollomon IP valuation tool.
Willem says: “It’s the first time we have valued IP on its own, although I have previous experience of valuing businesses as a whole. Inngot’s tools are pretty intuitive, and we only needed help when we finished our first valuation, about how we should refine things before a final valuation.”
As a division of a highly-successful parent company, Willem says that funding is not an issue at the moment. However, he says: “If we were looking for funding in the future as a separate company, then I would certainly get another Inngot valuation to help in those discussions.”
Stream is using the Sollomon valuation in its discussions with its parent company, VAT IT, to inform its spin-out as an independent business and identify and prepare for any tax issues relating to the purchase of its IP from VAT IT.