Tangible assets (manufacturing assets, land, buildings and financial assets) have always been regarded as the main source of business value. However, market conditions in the last quarter of the twentieth century showed that a company's value is not made up of its tangibles alone. The importance of intangibles, primarily the brand, but also patents, technology and employees has been recognized in the market, which lead to a dramatic shift in the market value of some companies relative to their book value. In spite of the fact that a company's market value (shareholder value) has increased, brand contribution and its specific value remained unclear and were not specifically quantified. Current accounting standards continue to deal mainly with tangibles to determine a company's value. Brand is rarely explicitly and adequately valued and it appears very rarely on financial statements. Even when it does appear, the numbers do not have a universally reco
