Intangible Asset
Intangible Asset means:
a right or a nonphysical resource, including copyrights, patents, trademarks, goodwill, computer programs, capitalized advertising costs, organization costs, licenses, leases, franchises, exploration permits, and import and export permits. Intangible Property is a commercially transferable interest in property that does not have a physical presence. Some intangible assets are amortizable for tax purposes over 15 years. See Section 197 Intangibles.
Examples include computer software, patents, goodwill, government license, franchises, trademarks, etc.
Description and Definition of Intangible Asset
Intangible assets that come within Internal Revenue Code section 197. Nonphysical resources or rights to other assets. Property that does not have value itself but represents something else. Patents, goodwill, permits, computer programs, stocks, bonds, and franchises are intangible assets.
Leave a Reply