Accounting -based valuation methods of intangible assets: Theorethical overview

Intangible assets are fundamental generators of companies' competitive advantage. While the tangible assets were the most important company's resources in the past, nowadays, the intellectual resources determine the success of a company. Intangible resources represent the non-physical substances, which are difficult to define, measure and valuate. Thus, the purpose of the paper is to analyze the valuation methods of intangible assets in the area of the traditional accounting framework. The paper addresses the importance of the intangible assets in management literature, and links various valuation methods of intangible assets to the context of economics, business and strategic management.