In accounting terms, an asset refers to any resource owned or controlled by an entity that is expected to provide future economic benefits. Assets can be either tangible or intangible.
Intellectual property (IP) refers to creations of the mind, such as inventions, literary and artistic works, designs, and symbols, names, and images used in commerce.
Invisible assets, often referred to as intangible assets, are non-physical assets that add value to a company such as intellectual property, brand reputation, and customer relationships.
Expenditures incurred for promoting and marketing interests, which are capitalized as an intangible asset (and not deductible or amortizable).
A Trademark is a distinctive symbol or device used to identify and differentiate the products of a particular trader from those of others. Trademarks offer legal protection and can be registered for exclusive use.
