← Every exhibit
The lines a change of hands will name, and the evidence that fills them
Four evidence lines from systems already running, and the boundary: the file documents the institutionalised share of the asset base, and stops where value sits in a person.
| The line they will name | The evidence that fills it | Where it sits today |
|---|---|---|
| Customer relationships | Churn by customer cohort, three years back; share of revenue under contract and remaining term | CRM, invoicing, contract register |
| Brand and trade name | Branded search demand over time; pricing next to unbranded competitors | Search Console (16 months) or any keyword tool for longer series |
| Technology and process | The playbooks, templates and tooling that run without their authors | Wherever they are written down: if they are |
| Order backlog and contracts | Signed volume not yet delivered; renewal rates | ERP, contract register |
| What no file shows | Whether the relationships are the company's or the founder's | Not documentable: the subject of the asset that can leave |
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Reference & Evidence
Source: Categories: Deloitte PPA-Examiner 2022 and Houlihan Lokey PPA Study 2019/2020 (asset classes); KfW Research Fokus 526 (buyer criteria). The evidence column and the boundary row are the author’s own.