Gli approcci valutativi alla stima del marchio. Alcuni spunti critici alla luce dei principi di valutazione

Among the intangibles, the brand is certainly one of the most important assets, both as regards its ability to represent the company in its industry (it is the hallmark par excellence), and for its ability to generate income independently with the consequent possibility of proceeding to its autonomous economic evaluation. For these reasons, the present study aimed to deepen the theme of the economic valuation of the brand, by developing the analysis in two parts. In the first, the authors treated theoretical issues concerning the brand, first carrying out an analysis of the literature addressed to the issues closely linked to its evaluative aspects. Subsequently, the functions and the role of the brand were analyzed as a resource to create economic value. Preparatory for the subsequent study on approaches and methods of valuation, was then the analysis of the different areas in which we are called to determine the value of the brand. The second part illustrates the analyzes dedicated to the main valuation approaches, such as the income based approaches, the market and cost approaches and indirect approaches. These "traditional" approaches have some limits that can be overcome, according to the authors, using several approaches jointly, or through the application of suitable corrections to the method that is most significant and consistent with the specific situation.