![]() ![]() ![]() An example would be a covenant not to compete contract with payments made over 5 years. However, if you can show that the useful life of the intangible asset is less than 15 years you can use that period to amortize the asset. any franchise, trademark, or trade name.Īfter you purchase the company you must allocate the premium paid in excess of the net tangible asset values to the appropriate intangible asset listed above.any covenant not to compete entered into in connection with an acquisition of an interest in a trade or business and.any patent, copyright, formula, process, design or knowhow.supplier based intangibles such as the existence of favorable distribution relationships or favorable contracts. ![]() business books and records, proprietary operating systems, or any other information base including client lists or other information with respect to current or prospective customers. ![]()
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