When a business is involved in a family law property settlement, most people naturally think about physical assets such as property, equipment, or cash. However, some of the most valuable assets in a business cannot be seen or touched. These are known as intangible assets . They include things such as brands, customer relationships, software, intellectual property, and goodwill. In many businesses, these intangible assets represent a significant portion of the overall value.

When a marriage or de facto relationship breaks down, dividing assets can quickly become complex. This is especially true when one or both parties own a business. Determining what that business is worth is rarely straightforward. A key issue is not only how the business is valued, but what definition of value is being used . This is where IVS 102 Bases of Value becomes important. The International Valuation Standards explain that the “basis of value” sets the foundation for