NEW YORK--(BUSINESS WIRE)--Brands create value, both for consumers who use their preferred brands and for the companies that own the brands. For more than 25 years, Interbrand – represented on every continent with some 40 offices around the world – has been evaluating exactly how much brands are worth. Now its brand valuation methods have been certified according to International Standards Organization (ISO) 10668:2010, making Interbrand the first brand consultancy in the world to achieve ISO 10668 certification.
ISO 10668 is the international norm that sets minimum standard requirements for the procedures and methods used to determine the monetary value of brands. It defines a coherent and reliable approach for brand valuation that takes into consideration financial, legal and behavioral science aspects. The certification program on the basis of ISO 10668 was developed in collaboration with the external certification institute Austrian Standards plus Certification, which has now attested that Interbrand’s valuation method conforms with ISO 10668 standards.
"We are very proud that our methods for assessing the financial value of a brand are the first in the world to achieve ISO certification,” said Nik Stucky, Global Practice Leader for Brand Valuation at Interbrand. "We are pioneers in the area of brand valuation. In the past 25 years we have conducted more than 5,000 brand valuations on behalf of numerous companies representing a wide variety of industries the world over. Our brand valuations are of tremendous benefit for a broad range of applications such as financial transactions, added-value-based brand management, controlling and reporting. The certification according to this internationally accredited standard underscores our high standards of quality and our outstanding performance, and validates the confidence our clients have placed in us. It is evidence that they can trust the methods we use to determine the financial value of their brands."
Dr. Holger Mühlbauer, managing director of the IT security association TeleTrusT Deutschland e.V., is a former managing director of the German Institute for Standardization (DIN) and served as secretary general for the development of national, European and international service standards. He also served as auditor for the ISO 10668 certification standards and conducted the audit of Interbrand. He praised Interbrand for taking the lead in acquiring certification of its own accord. “The ISO standardization project for service companies came about because of the dearth of broadly recognized, uniform requirements for brand valuation, against the background of international accounting standards which require greater attention to a precise breakdown of intangible assets in the balance sheets of companies listed on capital markets. ISO 10668 is the new, internationally authoritative standard for evaluating the monetary value of brands. ISO certification by an independent entity enables brand consulting companies such as Interbrand to document their professionalism and affords them more authority in the competitive marketplace."
Brand valuation serves an important function in assessing a company’s business potential. Previously it was difficult to compare the results of various brand valuation methods, as the lack of general standards for brand valuation resulted in highly divergent results. This led to insecurity on the part of companies, which were often reluctant to participate in brand valuation processes. The brand valuation standards in ISO 10668 were created to address this problem and make brand valuation a more respectable enterprise.
Founded in 1974, Interbrand is recognized for being at the forefront of the dialogue on brands as business assets. Today, Interbrand is amongst the largest brand consultancies and has grown to include 40 offices in 25 countries. The combination of rigorous strategy and analytics with world-class design creativity help its clients to create and manage brand value in all market dynamics. It is widely respected for its annual study, The Best Global Brands, and creating a broader platform for the discussion on brands in the Webby-award winning website brandchannel.com. For more on Interbrand, visit www.interbrand.com.