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Topic: Intangible

In the News (Mon 6 Jul 09)

Northern Trust

Marvin Harrison

Peter Chernin

Gary Locke

Match Play

Penelope Cruz

Mickey Rourke

AR Rahman

Danny Boyle

Hugh Jackman

	Intangible Heritage: UNESCO Culture Sector
		Convention for the Safeguarding of the Intangible Cultural Heritage
		The Director-General inaugurates the Festival of the Chinese Intangible Cultural Heritage at UNESCO Headquarters
		Traditional Indian performances of the Ramayana, the Ramlila, Japan’s Kabuki theatre, the Zambian Makishi Masquarade and the Samba of Roda (Brazil) are among the masterpieces proclaimed.
	portal.unesco.org /culture/en/ev.php-URL_ID=2225&URL_DO=DO_TOPIC&URL_SECTION=201.html (1714 words)

	Project Pages—Intangible Assets
		Intangible assets that are acquired through an exchange transaction and intangible assets that are internally generated should be reported based on the cost of their acquisition or development.
		Intangible assets acquired through a nonexchange transaction and intangible assets created by statute or the inherent nature of a government should be reported at their estimated fair value at the time of their acquisition or creation.
		Intangible assets considered to have indefinite useful lives should not be amortized, unless facts and conditions change resulting in the useful life no longer being indefinite, in which case the asset would begin to be amortized over its remaining estimated useful life.
	www.gasb.org /project_pages/intangible_assets.html (5295 words)

	Intangible property - Wikipedia, the free encyclopedia
		Intangible property, also known as incorporeal property, describes something which a person or corporation can have ownership of and can transfer ownership of to another person or corporation, but has no physical substance.
		Intangible property is used in distinction to tangible property.
		In English law and other Commonwealth legal systems, intangible property is traditionally divided in pure intangibles (such as debts, intellectual property rights and goodwill) and documentary intangibles, which obtain their character through the medium of a document (such as a bill of lading, promissory note or bill of exchange).
	en.wikipedia.org /wiki/Intangible_property (348 words)

	Current - Intangible Asset Valuation
		For example, determining the appropriate value of an intangible asset (or set of intangible assets) may be necessary or useful for corporate planning, establishing royalty rates, intercompany transfer prices or even litigation dispute and resolution (although often this is tied into taxation related reasons!).
		One should be mindful that the distinction between intangible assets and characteristics of intangible assets is important, especially when valuing a particular intangible asset or set of intangible assets.
		Understanding the reason for the intangible asset valuation, whether for tax purposes, corporate planning, or dispute resolution, is paramount when considering the nature of the intangible asset under investigation.
	www.iic-inc.com /curr.intangible.shtml (2700 words)

	FASB: Summary of Statement 142
		It addresses how intangible assets that are acquired individually or with a group of other assets (but not those acquired in a business combination) should be accounted for in financial statements upon their acquisition.
		Intangible assets that have finite useful lives will continue to be amortized over their useful lives, but without the constraint of an arbitrary ceiling.
		Intangible assets that are not amortized will be tested for impairment at least annually by comparing the fair values of those assets with their recorded amounts.
	www.fasb.org /st/summary/stsum142.shtml (1131 words)

	intangible Management Consulting
		The Intangible Management Operating Standards acknowledges that the strength of subjective measures is in their ability to assist organizations manage intangibles, not value them.
		The purpose of Intangible Management Operating Standards is to ensure that investments in intangible valuation are kept to a minimum on an ongoing basis, by ensuring that additions and subtractions in components does not occur as components are not used in objective valuation.
		Intangible costs are productivity costs that result from opportunity costs generated from ineffective knowledge assets, ineffective relationship assets, ineffective emotional assets, and ineffective time assets.
	www.standardsinstitute.org /im/standards3.html (2384 words)

	FL Dept Rev - Intangible Personal Property Tax
		The annual intangible taxes that were owed to the state for the 2006 tax year and for prior years, are still due.
		The intangible tax on leases of governmentally owned real property and the one-time intangible tax on notes secured by a mortgage on real property in Florida are still in effect.
		The last annual intangible tax return that these taxpayers were required to file was the 2006 return that was due by June 30, 2006.
	dor.myflorida.com /dor/taxes/ippt.html (393 words)

	UNESCO Culture Sector - Intangible Heritage - 2003 Convention : Legislation
		Under this law, “Intangible Cultural Properties” are defined as “stage arts, music, craft techniques, and other intangible cultural assets that possess high historic or artistic value for Japan,” and efforts are made for their safeguarding.
		According to the Law, all heritage properties including intangible cultural heritage properties are classified as “common”, “valuable” or “unique and valuable", and the subjects for the protection of each of these are identified at the national, provincial, and local level.
		In the framework of the 2004 Law, the Intangible Cultural Heritage is defined as "an expression and/or a testimony of the human creation in the past and the present, or a representation of the interaction between the man and the nature", and it covers three types of properties: folklore, language and toponyms.
	www.unesco.org /culture/ich_convention/index.php?pg=00034 (3333 words)

	Integrated IAM intellectual asset management software - a competitive advantage solution managing intellectual property
		For acquirers and their professional advisers, the challenge is not only to improve their due diligence of intangible assets at target companies but to assemble new competencies that enable them to address the unique issues of these assets.
		In the due diligence prior to the closing of a deal, the more knowledge acquirers have about their own intangible assets and the target's intangible assets, the better the deal they are likely to make.
		Many of the intangible assets of a company are kept secret from outside parties but because of regulations and reporting mechanisms, it is hard to keep them all under wraps.
	www.delphion.com /news_stories/news-petrash_article (1981 words)

	Interstate intangible asset transfer programs. (includes related article)
		By choosing the situs and operating form of the corporation holding the intangibles, a very tangible benefit may be the reduction of the total state tax obligation of the consolidated entity holding the assets.
		Since it is difficult to quantify an asset-specific cost of capital, and since the transferred intangibles are presumably used as part of the overall going concern business enterprise, a weighted average cost of capital is often used as proxy for a fair return on transferred intangible assets.
		The most common intangible asset transfer pricing formula is one where the transfer price is expressed as a percentage of net sales, e.g., the fair transfer price for a retailer's trademarks may be 1.5% of net sales.
	www.nysscpa.org /cpajournal/old/13027383.htm (3855 words)

	Valuing Intangible Assets
		Insuring individual intangible assets, or portfolios of intangible assets, began in the mid-1970s, and such insurance was offered to cover infringement litigation expenses in the 1980s.
		Annual intangible asset appraisals used to determine values of collateral for loans and values for IP insurance may be another way to reliably determine amortization.
		Intangibles are at risk of loss due to intangible forces, such as changing overall economic conditions, increased competition, new technology, and employment changes.
	www.nysscpa.org /cpajournal/2003/1003/features/f105003.htm (2418 words)

	Proclamation of Masterpieces of the Oral and Intangible heritage of Humanity
		The oral and intangible heritage encompasses complex, broad and diverse forms of living heritage in constant evolution.
		The oral and intangible heritage has gained international recognition as a vital factor in cultural identity, promotion of creativity and the preservation of cultural diversity.
		The new Proclamation of the Oral and Intangible Heritage is part of a longer term strategy that is aimed at creating a normative instrument.
	www.unesco.org /bpi/intangible_heritage/backgrounde.htm (989 words)

	Amortization of Certain Intangible Assets
		Revisit an intangible asset with an indefinite life during each reporting period to determine whether the life is still indefinite.
		Intangible assets other than goodwill may or may not be amortized depending on their useful lives to the entity: Assets with finite lives are amortized; assets with indefinite lives are not.
		Intangible assets other than goodwill that a company is not amortizing should be reevaluated in each reporting period to determine whether amortization should begin (if the assets’ useful lives go from indefinite to definite).
	www.aicpa.org /pubs/jofa/dec2004/mueller.htm (2550 words)

	IAS Plus International Accounting Standards IAS 38, Intangible Assets
		If an intangible item does not meet both the definition of and the criteria for recognition as an intangible asset, IAS 38 requires the expenditure on this item to be recognised as an expense when it is incurred.
		Intangible assets may be carried at a revalued amount (based on fair value) less any subsequent amortisation and impairment losses only if fair value can be determined by reference to an active market.
		An intangible asset with an indefinite useful life should not be amortised.
	www.iasplus.com /standard/ias38.htm (1441 words)

	Intangible Assets (Site not responding. Last check: 2007-10-14)
		Intangible assets are those non-physical things that patrons want and need to make their work and lives easier, or more enjoyable.
		Other intangible assets of this kind include service information, such as how to order a product, how to make a warrantee claim, as well as helpful technical support.
		The key to developing the intangible assets of an organization is increase the information flow between the organization and the customer, or user.
	www.umsl.edu /~klein/IntangibleAssets.html (487 words)

	Intangible Assets (Site not responding. Last check: 2007-10-14)
		The Intangible Assets Monitor is described on the site as a 'method for measuring intangible assets and a presentation format which displays a number of relevant indicators for measuring intangible Assets in a simple fashion.' and includes the option to click on indicators for more detailed information.
		Intangibles - Measurement and Management - online bibliography of papers by Baruch Lev (Director of the Vincent C. Ross Institute of Accounting Research) on intangible assets with links to the full text where available.
		Intangibles Research Project - website in support of the project established by the Vincent C. Ross Institute of Accounting Research to assist researchers in gaining access to 'internal data on corporate intangible investments'.
	www.icaew.co.uk /librarylinks/index.cfm?AUB=TB2I_36679 (520 words)

	Is The Florida Intangible Personal Property Tax A Voluntary Tax?
		The Florida intangible personal property tax (herein "intangible tax") is considered by many to be unusual because Florida is one of the few states that imposes the intangible tax.
		The intangible tax is an annual tax imposed on the just valuation of all intangible personal property having a taxable situs in Florida, other than mortgage notes secured by Florida real property and certain intangible personal property that is specifically exempted by Florida law.
		Such an approach may yield a smaller economic return if the economic return from assets not subject to the intangible tax is less than the return on investments which are subject to the intangible tax, even after factoring in the analysis the intangible tax payable on those investments.
	www.fresehansen.com /CM/OurPublications/OurPublications26.asp (1180 words)

	Home : Intangible Business Brand Valuation
		Intangible Business was set up in 2001 to fill the need for an independent approach to brand valuation, brand strategy and brand development.
		Intangible assets, such as brands, trademarks, patents, copyrights and licenses, are often the most valuable assets within a company.
		What qualifies Intangible Business in brand valuation is its global network of people, who all focus on brand valuation from various complementary angles – brand and marketing, finance and accounting, management and strategy.
	www.intangiblebusiness.com (475 words)

	The Value of Intellectual Property, Intangible Assets and Goodwill (Site not responding. Last check: 2007-10-14)
		For the value of intangible assets, calculating the value of intangible assets is not usually a major problem when they have been formally protected through trademarks, patents or copyright.
		This is not the case with intangibles such as know how, (which can include the talents, skill and knowledge of the workforce), training systems and methods, technical processes, customer lists, distribution networks, etc. These assets may be equally valuable but more difficult to identify in terms of the earnings and profits they generate.
		With many intangibles, a very careful initial due diligence analysis needs to be undertaken together with IP lawyers and in-house accountants.
	www.wipo.int /sme/en/documents/value_ip_intangible_assets.htm (1934 words)

	Measuring Intangible Assets and intellectual Capital - An Emerging Standard (Site not responding. Last check: 2007-10-14)
		When a company invests in an intangible asset like a research program or an entrance to a new customer segment, it is not generally permitted to record the value of the research as an asset on the balance sheet.
		While the Intangible Assets Monitor is based on the notion of a "knowledge perspective" of a firm, Kaplan Norton regards the notion of the firm as given by its strategy.
		Measuring intangible assets is an art form very much in its early stages and Australia needs people who have both the qualifications to develop measurement systems in their companies, and who understand the problems involved in measuring intangibles and reporting and interpreting this fuzzy stuff.
	intelegen.com /money/EmergingStandard.html (5073 words)

	FASB: Disclosures About Intangible Assets
		Those unrecognized intangible assets include assets that are developed internally (such as brand names and customer relationships) and those that are acquired and written off immediately (acquired in-process research and development).
		That decision limits the scope to intangible assets that are either grounded in contracts or other legal rights or are separable from the business.
		This possibility would expense research and development and other costs to develop intangible assets until technical feasibility is reached, and then retroactively capitalize those previously expensed costs and capitalize all further costs to complete creation of the asset.
	www.fasb.org /project/intangibles.shtml (1140 words)

	Definition of Intangible Property from RoyaltyStat.com
		Otherwise, such intangible rights could be transferred without arm's-length compensation simply by transmitting the intangibles via the memory of an employee.
		Thus, a royalty or other payment for the intangible may be required, and the controlled purchaser will presumably be treated as owning the embedded intangible for purposes of determining its arm's-length income.
		Ownership of Intangible PropertyAs with the 1968 regulations, the final regulations in Income Tax Regulations section 1.482-4(f)(3)(ii) require that arm's-length consideration be paid when intangible property is transferred from one member of a controlled group to another.
	www.royaltystat.com /article3.cfm (6102 words)

	Workshop on Museums and Intangible Heritage - Asia Pacific Approaches
		ICOM membership commitment to protecting the vulnerable intangible heritage is so great that the theme of the General Assembly of ICOM 2004 in Seoul, Korea, is Intangible Heritage.
		It is this concern that led the ICOM Asia Pacific Organisation to identify a focussed workshop on Museums, Intangible Heritage and Globalisation as a preparatory activity, the outcomes of which would inform ICOM 2004.
		For practical purposes it was understood that intangible heritage resources consist of voices, values, traditions, languages, oral history, folklife, creativity, adaptability and the distinctiveness of a people.
	icom.museum /shanghai.html (533 words)

	Intangible asset - Wikipedia, the free encyclopedia
		Intangible assets are defined as those non-monetary assets that cannot be seen, touched or physically measured and which are created through time and/or effort.
		Millions are spent each year by corporations to research and develop new intangible assets.
		offers some guidance as to how intangible assets should be accounted for in financial statements.
	en.wikipedia.org /wiki/Intangible_asset (301 words)

	Intangible Heritage
		At the ICOM General Conference in Barcelona, July 2001, several meetings emphasised the need to develop a range of methods for identifying and managing resources, both tangible and intangible.
		ICOM also has an important contribution to make in the drafting of the Convention on Intangible Heritage that UNESCO is currently preparing.
		ICOM commitment to protecting intangible heritage is shown in the fact that the theme of the General Conference of ICOM in 2004 in Seoul, Korea, is Intangible Heritage
	icom.museum /intangible_heritage.html (111 words)

	Intangible Asset Valuation \| United States - Deloitte & Touche USA LLP
		Our intangible asset valuation professionals employ systematic and well-established approaches to identify and value various categories of intangible assets.
		We perform intangible asset valuations and IAM engagements for a variety of clients, ranging from start-up enterprises to Fortune 100 companies, on a worldwide basis.
		Develop an understanding of deployment options along with resource allocation of intangible asset portfolios, based on an awareness of their current and future contribution to company value.
	www.deloitte.com /dtt/section_node/0,1042,sid=41493,00.html (395 words)

	The Intangible Economy
		The good news is that our intangibles surplus grew by over 2%, continuing its strong positive trajectory.
		The increase in the overall deficit was due to a $4 billion rise in imports that overshadowed the $2.4 billion increase in exports.
		The term "royalties" generally refers to payments for the utilization of copyrights or trademarks, and the term "license fees" generally refers to payments for the use of patents or industrial processes.
	www.athenaalliance.org /weblog (2933 words)

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