Asked by
Evelyn Williams
on Dec 16, 2024
Verified
A patent
A) has a legal life of 20 years.
B) is not amortized.
C) can be renewed indefinitely.
D) is rarely subject to litigation because it is an exclusive right.
Legal Life
The duration for which an asset is protected or regulated by legal rights, often referring to intellectual property or contractual agreements.
Patent
An exclusive right granted for an invention, which provides the patent holder with protection for the invention from commercial exploitation by others.
- Learn about the legal and usable life of intangible assets and its consequences on amortization.
Verified Answer
NC
Learning Objectives
- Learn about the legal and usable life of intangible assets and its consequences on amortization.
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