Siobhan Duncan
Siobhan joined Temple Tax Chambers in April 2023, following the successful completion of her pupillage. She draws from her diverse legal background which primarily lies in the commercial sector, having worked at numerous prestigious institutions such as Imperial College London and the Office of the New York State Attorney General.
Siobhan advises in all areas of tax on behalf of taxpayers, and regularly produces case reports alongside her practice.
Practice Area
Panel
- Contributing Author
Qualified Year
- 2023
Experience
- Harrison Clark Rickerbys (2021 - 2022)
- Office of the New York State Attorney General (2019 - 2020)
- Imperial College London (2019 - 2019)
Membership
- Revenue Bar Association
Qualifications
- LLM (2020)
- LLM (2015)
- LLB (Law with French Law) (2014)
Education
- New York University School of Law (2020)
- University College London (2015)
1 Contributions by Siobhan Duncan
PRACTICE NOTES
UK IP Valuation for Lawyers: Market Comparables, Income (Royalty Relief, Premium Profits, Excess Earnings), Cost Approach, Discounted Cash Flow, and Uses in Transactions, Disputes, Insolvency and Tax
Introduction
Valuation is needed at multiple stages in an IP asset’s life for diverse aims, including business or IP disposals, joint ventures, litigation outcomes, insolvency, financial reporting and tax matters (such as transfers between connected parties and transfer pricing). In every instance, a market value or arm’s length figure—or an arm’s length royalty for a licence—must be derived for a hypothetical transaction, ignoring owner‑specific synergies.
There is no universal method; the chosen approach should reflect the putative deal and the level of robustness required, which depends on the asset’s significance, the nature of the transaction and the reason for valuing (eg loan security or a critical patent transfer).
Comparison approach: references prices, bids or offers for comparable IP, often via specialist databases; typically a corroborative check due to scarce, non‑identical data and undisclosed terms.
Income/economic benefit approach: discounts forecast cashflows, savings or profits to present value, commonly using royalty relief, premium profits or excess earnings; highly sensitive to assumptions, discount rates and remaining economic life.
Cost approach: estimates replacement or reproduction cost (including opportunity costs and tax effects); straightforward yet least informative where future economic benefit underpins value.
For tax‑led valuations, note that “IP” has a specific meaning for tax purposes...
IP
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