SECTION 1 – All groups must answer this question Question 1. What are the critical challenges associated with valuing a firm with significant intangible assets? Should valuation approaches be adjusted to accommodate the differences? If so what differential approaches should be taken? Question 1 Explanatory note – Clearly a number of issues abound, please ensure that in your analysis you consider the challenges associated with the valuation of firms heavily reliant on intellectual properties, such as patents and copyright. Consider for example, how a patent portfolio could be valued and the various ways that intellectual properties can be employed.