Identify the most important intangible asset that you believe should be recognised on the balancesheet of a company listed on the Singapore Exchange (http://www.sgx.com).

Background
BreadTalk Group Limited was incorporated in Singapore on 6 March 2003 as an investment holding company. It operates its chain of 22 retail outlets selling breads, buns, cakes and pastries through its principal subsidiary, BreadTalk Pte Ltd.

The most intangible asset of BreadTalk
Innovation is the most important asset of BreadTalk. Innovation, contrary to established customs, manners and rites, involves doing something unique and specialized. It costs more in time, effort and experimental fees. Tried-and-tested products will go in with no expensive surprises but will deliver nothing special to the customers.

Identifiability
BreadTalk has single-handedly revitalized on entire industry. Much of its success is due to the fact that BreadTalk chose not just to enter the fresh bakery industry but to totally redefine it. This has allowed the company to create a unique identity and capture on ext...