SU8 Finite Lived Intangible Assets

Question 1

List common forms of Finite Lived Intangible Assets.

Answer 1

Marketing-related (e.g., trademarks)
Customer-related (e.g., customer lists)
Artistic-related (e.g., copyrights)
Contract-related (e.g., franchise rights)
Technology-related (e.g., computer software)
Goodwill (recognized only in business combinations)

Question 2

What is the result of Intangible assets not being a “financial assets”?

Answer 2

hey are not financial assets.
Intangible assets thus do not include such items as cash, equity investments, accounts and notes receivable, bonds receivable, or prepaid expenses.

Question 3

What is the amortizion period for a patent?

Answer 3

is the shorter of (1) its useful life or (2) the legal life remaining after acquisition or the moment the application was filed.