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Intellectual property – Your most valuable intangible asset

Intellectual property – Your most valuable intangible asset

by Sonica Wilken

The International Accounting Standards 38 (IAS 38) defines an intangible asset as: “an identifiable non-monetary asset without physical substance.” The International Financial Reporting Standards committee developed IAS 38 to manage the financial accounting and reporting of intangible assets. Intangible assets include intellectual property such as patents (technology), trade marks(brands), franchises, designs, copyright, trade secrets, confidential information and know-how. As mentioned, intangible assets are non-physical assets...

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