Today, the OECD released a discussion draft on the arm’s-length pricing of intangibles where valuation is highly uncertain at the time of the transaction.  The discussion draft responds to the requirement under Action 8 of the Base Erosion and Profit Shifting Action Plan to develop an approach to pricing hard-to-value intangibles.  The discussion draft, which proposes revisions to the OECD’s existing guidance, “includes an approach based on the determination of the arm’s length pricing arrangements, including any contingent pricing arrangements, that would have been made between independent enterprises at the time of the transaction.”