I've been doing optimization on a clients website and want to make sure I'm maximizing my characters.

Does anyone have any feedback on the spacing in between the pipes ( | ) ?

IE: Internet Marketing Company | Denver SEO | Brand Name

Do the spaces before and after the pipes play a role in whether the search engines can distinguish the keyword or is it all considered one word if there is no spaces such as:

IE: Internet Marketing Company|Denver SEO|Brand Name

Any information will be super helpful.  Thanks for your help!