WHAT ASSETS ARE INTANGIBLE ASSETS?
- "According to the IFRS, intangible assets are non-monetary assets without physical substance. Like all assets, intangible assets are expected to generate economic returns for the company in the future."
- Identifiable and Unidentifiable Intangible Assets
"Identifiable intangible assets are those that can be separated from other assets and can even be sold by the company. They are assets such as intellectual property, patents, copyrights, trademarks, and trade names. Software and other computer-related assets outside of hardware also classify them as identifiable intangible assets."
- "Unidentifiable intangible assets are those that cannot be physically separated from the company. The most common unidentifiable intangible asset is goodwill."
Source: Corporate Finance Institute
TYPES OF INTANGIBLE ASSETS
- Intellectual property
This includes:
- Trade Secrets/Confidential Information
- Inventions/Patents
- Brands/Trademarks/Service Marks
- Works of Authorship
- Customer and Vendor relationships
- Goodwill
- Human Capital/Know-How: The skills, knowledge, and experience of a company's employees.
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