n Professional Accountant - Assessing intangible assets and their value to business : business & economy

Volume 2016, Issue 28
  • ISSN : 1680-7537


Intangible assets can be something of a grey area for businesses, difficult to value, but undoubtedly properties that have a bearing on the company's bottom line. Viewed simply,intangible assets are those assets that are not physical in nature - rather, they refer to the intellectual property and knowledge that a business has which provides it with a competitive edge. "Intangible assets are the cornerstone of any business," confirms head of Intellectual Property practice at Norton Rose Fulbright, Likonelo Magagula. "While they are not physical, they are critical in determining a company's value." In addition to knowledge, intangible or intellectual assets encompass the skills and creativity of employees, as well as the processes, methods or systems used in business activities and relationships with customers and suppliers.

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