In order to regulate the copyright asset valuation and facilitate the development of cultural industry, China Appraisal Society recently announced that the Guiding Opinions on Appraisal of Copyright Assets(hereinafter refers to as Opinions) will be implemented on July 1, 2011.
The Opinions define the principles and standards in copyright asset valuation, definition of copyright asset valuation, the basic requirements, the subject to be valuated, the operational requirements and disclosure of valuation. It will to certain extent solve the issue of lacking special guidance for copyright asset valuation.
Due to the complexity of copyright ownership and rights and the uncertainty of the potential revenues, copyright asset valuation became the bottleneck of intangible asset valuation. The lack of special technology standards made the valuation even harder. Undoubtedly, the professional support of the asset appraisal industry is in an urgent need.
The Guiding Opinions on Appraisal of Copyright Assets is another important measure adopted by appraisal industry after the implementation of Intangible Assets Valuation Standards and Guiding Opinions on Appraisal of Patent Assets in 2008. It will play an active role in the valuation, transaction and financing of copyright assets within the cultural industry, thus effectively promoting the cultural restructuration and the development of Chinese cultural creative industry.
