The US transition to a knowledge economy is all but complete, exposing an economic foundation built squarely upon intangible assets and specifically intellectual property. Arguments over whether or not IP has become an asset class are settled – it is. Debate now centers on whether this new market place will learn from the misfortunes of the last generation of corporate finance solutions, many of which are today berated by the US Congress as the cause or accelerator of our economic troubles. In this speech for the Ocean Tomo IP Think Tank, intellectual property expert Weston Anson described the current issues in intangible asset valuation and tackled the complex topic of how to develop and set acceptable valuation standards, noting key institutional participants who can help or hinder the process.