LES Global News—Book Review
Book Review | By Michael Lasinski
The Long Journey To Software Valuation By Dwight Olson, CLP Publisher: Larry Goldstein (July 5, 2013) ISBN 978-1-7344129-0-1
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rue to its title, Dwight Olson’s book takes the reader on a “journey.” Unlike other valuation texts that assume that software is an asset, it starts by giving the reader a framework that is important to the understanding of how software became an asset worthy of valuation and why the software asset’s journey was important to corporate financial management, accountants, investors and some of the most valuable companies in the world. Sure it covers the traditional cost, market and income methods to valuing intellectual property (including software), but it also builds on those traditional approaches and highlights the TSV or total software value, which considers the value of ownership, market value and internal cost savings, and how one should think about that in context. Importantly, this book is more than just a valuation text. The journey it takes the reader on is important for those that are transacting software as an asset and how they can protect themselves and the asset they have developed or acquired. This is particularly important in a cloud-based world where traditional rules of the road are no longer adequate in securing a company’s software and data. It considers the importance of access controls, anti-virus technology, and the use of distributed environments. I have even taken a page out of the text and required some of my clients to get licensor’s to escrow their trade secrets (chemical formulas) when entering into partnership arrangements. The best way to use this text is to read it cover-to-cover (it’s 173 pages, not including its useful exhibits). But then keep it with you and refer to it when completing software-intensive deals (and other types of intellectual property as well). It will help the reader not only value the assets, but identify value drivers and minimize risk. ■
In Memory of:
Jack Ott
To All Members of LES Societies Globally, We honor Jack Ott, a good friend and colleague to many of us in the Licensing Executives Society. Jack recently passed after living a wonderful life for 88 years and we will miss him. Jack contributed mightily to the Licensing Executives Society. He served as editor of the quarterly publication les Nouvelles from 1974 to 2000 and also edited other publications including LES Viewpoints and the LES USA & Canada Annual Report. We all appreciate his devotion to LES in chronicling its founding and early years in a short book called The Licensing Executives Society: The First 40 Years A Living History. In his early years, Jack attended Ohio State University where he graduated with a degree in journalism and married his high school sweetheart Phyllis Roley in 1953. Together they raised four sons while moving around Ohio as Jack worked as a photographer, reporter and editor at the Dayton Daily News, the Painesville Telegraph and finally
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Licensing Executives Society International
for SOHIO, where he edited and wrote for their publications about the Alaska pipeline. Jack was accomplished in scouting, reaching the top rank of Eagle Scout as did all four of his sons and four grandsons. He could always be found with a camera in hand. Additionally, Jack ran many triathalons, and loved to take his boat Osprey out for scuba diving adventures. He thoroughly enjoyed spending time with his family and friends. We honor Jack and appreciate all he did for LES, especially in his friendship and in maintaining the high quality of our publications. View Jack Ott's Obituary Thank you to LES USA & Canada for putting together this memoriam. ■
