BPI France (the French public investment bank) runs a flagship diagnostic combining a strategic IP audit and a financial valuation of intangible assets. The mission is delivered by a registered expert advisor such as Dreyfus & Associés. It is the natural next step after the INPI IP Pass and a prerequisite for any major corporate operation involving intangible assets.
Reviewed by Nathalie Dreyfus, European Trademark and Patent Attorney, registered expert advisor with BPI France. Last updated: June 2026.
The diagnostic is far more than a legal check. It is a hybrid mission combining four perspectives in a single deliverable.
Legal perspective: validity, scope and chain of title of every IP right held by the company (trademarks, patents, designs, copyrights, software, domain names, trade secrets).
Strategic perspective: alignment between the IP portfolio and the business roadmap, target markets, competitive landscape and innovation pipeline.
Financial perspective: monetary valuation of intangible assets using cost, income and market approaches (relief from royalty, multi-period excess earnings, comparable transactions) under ISO 10668 for brands.
Operational perspective: governance, processes, internal IP management and reporting to executive committees and boards.
ISO 10668 sets the requirements for monetary brand valuation, covering the three classic approaches (income, market, cost), the requirements of transparency, validity and reliability, and disclosure rules. It is the global reference for credible brand valuation in M&A and tax.
Source: International Organization for Standardization, ISO 10668.
Under IAS 38, intangible assets must be recognised on the balance sheet when identifiable, controllable and likely to generate future economic benefits. Initial measurement is at cost, subsequent measurement uses cost or revaluation model.
Source: IFRS Foundation, IAS 38 Intangible Assets.
IFRS 3 requires the acquirer in a business combination to allocate the purchase price across identifiable assets and liabilities, including intangible assets such as brand, customer relationships, technology and contracts. PPA is a frequent driver of post-deal disputes.
Source: IFRS Foundation, IFRS 3 Business Combinations.
NF X50-772 from AFNOR sets a French national framework for the valuation and reporting of intangible assets, complementing international standards. It is increasingly cited in French M&A documentation and tax practice.
Source: AFNOR, NF X50-772 standard on intangible asset valuation.
Companies use the diagnostic at strategic turning points. Five use cases stand out.
Preparation of an M&A transaction (buy-side or sell-side) where the IP portfolio is a deal driver and a Purchase Price Allocation will be required.
Pre-IPO due diligence on intangible assets, to anticipate auditor and regulator questions and structure the IP narrative for investors.
Fundraising rounds (Series A to growth), where a credible intangible asset valuation reinforces the equity story and supports negotiation on valuation.
Annual IFRS reporting and audit cycles where intangible assets are material under IAS 38 or were recognised through a prior Purchase Price Allocation.
Refinancing operations where intangible assets serve as collateral or as a key value driver for lenders, including innovation loans from BPI France or the European Investment Bank.
Mapping of every IP right, software, database, know-how, brand asset and contract. Reconciliation with the legal owner, the user and the geographical scope of protection.
Benchmarking of IP governance, IP filing strategy, contractual hygiene (employment IP clauses, R&D agreements, M&A warranties), enforcement track record and internal reporting.
Quick wins, mid-term actions and 3-year IP investment plan, aligned with the business roadmap and the available innovation funding tools (CIR, IP Pass, BPI France instruments).
Choice of valuation approach (income, market, cost), assumptions discussion with management and audit, calculation and sensitivity analysis under ISO 10668, IAS 38 and IFRS 3.
Delivery of a written report fit for board, auditor, tax authority and investor use. Presentation to the executive committee and follow-up support.
The diagnostic typically lasts three to ten working days delivered over three months. BPI France co-finances the mission for eligible SMEs and mid-caps. The exact cost, scope and funding rate are calibrated by BPI France case by case, and the proposal is shared with you before the mission starts. Dreyfus, as a registered expert advisor, handles the interface with BPI France.
ISO 10668-compliant brand valuation for M&A, IFRS reporting, transfer pricing and licensing.
Income-based, cost-based and market-based valuation of patents and patent portfolios.
Valuation of proprietary software, content libraries and copyright portfolios.
Identification and valuation of customer relationships, contracts and goodwill in M&A PPA.
Documentation and valuation of intra-group IP licensing under OECD transfer pricing guidelines.
Buy-side and sell-side IP and intangible assets due diligence, with warranty negotiation support.
Eligibility is reserved to SMEs and mid-caps (Entreprises de Taille Intermediaire) registered in France with fewer than 2 000 employees. Foreign groups operating in France through a French subsidiary can apply provided the subsidiary itself meets the criteria. Specific sector restrictions may apply, including EU State Aid rules. We confirm eligibility during the initial scoping call.
It is an analysis and advisory mission co-funded by BPI France, combining a strategic IP audit and a financial valuation of intangible assets. It is delivered by a registered expert advisor over three to ten working days spread across approximately three months.
Your company must be an SME or a mid-cap (ETI) registered in France with fewer than 2 000 employees. Foreign groups can apply through their qualifying French subsidiary. Sector restrictions and EU State Aid rules may apply. We confirm eligibility during a free preliminary call.
Yes. Our reports are prepared in line with ISO 10668 for brand valuation and consistent with IAS 38 (Intangible Assets) and IFRS 3 (Purchase Price Allocation). They are routinely reviewed by statutory auditors and used for year-end financial statements and M&A documentation.
Yes. We work under strict confidentiality, with named-team setup, secure data rooms and tailored disclosure protocols. The diagnostic can be deployed as part of a sell-side vendor due diligence to optimise IP value before the process opens.
The INPI IP Pass focuses on early-stage strategic protection for SMEs, capped at 5 000 euros of subsidy. The BPI France diagnostic is more ambitious in scope and budget, covering full IP audit and financial valuation, suited for companies preparing M&A, IPO, fundraising or major refinancing.
A valuation prepared under recognised standards (ISO 10668, IAS 38, OECD transfer pricing guidelines) and supported by robust assumptions and documentation is far harder to challenge. We routinely defend our valuation reports before French tax authorities and statutory auditors.
