Abstract
Purpose – As part of steps toward providing valuation clients with requisite information on
the preparedness of practitioners for intellectual property (IP) valuation, this study developed
and evaluated a framework for determining the preparedness of practitioners for IP valuation.
Design/Methodologies/Approach – The developed framework built on ideas from past
related studies and was evaluated by estate surveyors and valuers (ESVs) in Lagos property
market, Nigeria. Through online survey, 125 ESVs participated in evaluating the framework.
The professionals evaluated the significance, to preparedness, of 32 variables components of
5 main preparedness framework’s indicators. The variables were rated on a five-point Likert
scale, ranging from 1-5 with 1 representing Not at all important and 5, Highly important. The
data obtained were transposed into preparedness scales and relative important index (RII)
using mean rating.
Findings – The result showed that four of the five main indicators in the developed framework
were judged to be important in the measurement of practitioners’ preparedness for IP
valuation. These are: sensitisation and awareness of practitioners about IP valuation, training
and education at tertiary institutions level, acquisition of informational materials, and further
professionals’ training. The fifth indicator (the presence of regulatory and clients’ support)
was considered only moderately important. The study concluded that the developed
framework, when applied, should be sufficient to establish practitioners’ (ESVs) level of
preparedness for IP valuation in the study area and similar markets elsewhere.
Practical Implication – The study has implication for the education and training of IP
valuation practitioners. It will also serve as impetus for further study in the area of IP valuation,
particularly with respect to measuring valuers’ preparedness, in the developing countries.
Originality/Value – This study presents one of the few attempts at developing a framework
for determining preparedness of practitioners for IP valuation in developing countries; a step
which is expected to stimulate further actions towards full IP valuation practice