Intangible asset Sample Clauses
The 'Intangible asset' clause defines and governs the treatment of non-physical assets, such as intellectual property, trademarks, copyrights, patents, or goodwill, within a contract. It typically outlines how these assets are identified, valued, transferred, or protected between the parties. For example, it may specify ownership rights to software developed during a project or set terms for licensing a brand name. The core function of this clause is to ensure clarity and prevent disputes regarding the rights and obligations related to intangible assets, which are often critical to the value and operation of a business agreement.
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Intangible asset. Intangible asset represents computer software is stated at cost after deducted accumulated amortization. Amortization is charged to the statement of comprehensive income on a straight-line basis from the date that the computer software is available for use over the estimated useful life of the software of 5 years.
Intangible asset. Intangible asset is stated at less amortization. Amortization of intangible asset is calculated by reference to its cost on the straight - line basis over 3 year.
Intangible asset. Movement of intangible asset for the years ended December 31, 2022 and 2021 are as follows:
Intangible asset. A nonphysical, noncurrent right that gives Bluegreen or any of its subsidiaries an exclusive or preferred position in the marketplace including but not limited to a copyright, patent, trademark, goodwill, organization costs, capitalized advertising cost, computer programs, licenses for any of the preceding, government licenses (E.G., broadcasting or the right to sell liquor), leases, franchises, mailing lists, exploration permits, import and export permits, construction permits, and marketing quotas.
Intangible asset. On April 23, 2004, the Company entered into a license agreement with EWT to obtain the North American intellectual property rights and know-how relating to EWT's medium capacity wind turbines, for an indefinite period of time. The license fee was EUR 1,350,000 and the license was measured at $1,601,670, the fair value at the date the licensing agreement was entered into. The asset is not amortized due to the indefinite life term of the agreement. There is no assessed impairment noted. Cash $ 95,167 Loan receivable 45,584 GST Receivable 18,744 Investment in Emergya Wind Technologies B.V. (note 3) 809,006 Equipment, Net (note 4) 137,711 Intangible Asset (note 5) 1,951,906 Total Assets $ 3,058,118
Intangible asset. The term “Intangible Asset” shall mean all “general intangibles” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation, all Intellectual Property, claims, income and other tax refunds, security and other deposits, payment intangibles, contract rights, options to purchase or sell real or personal property, rights in all litigation presently or hereafter pending (whether in contract, tort or otherwise), insurance policies (including without limitation key man, property damage, and business interruption insurance), payments of insurance and rights to payment of any kind.
Intangible asset. On April 23, 2004, the Company entered into a license agreement with EWT to obtain the North American intellectual property rights and know-how relating to EWT's medium capacity wind turbines, for an indefinite period of time. The license fee was EUR 1,350,000 and the license was measured at $1,601,670, the fair value at the date the licensing agreement was entered into. The asset is not amortized due to the indefinite life term of the agreement. There is no assessed impairment noted.
Intangible asset. Seller holds good and marketable title, license to or leasehold interest in the Intangible Asset and has the complete and unrestricted power and the unqualified right to sell, assign and deliver the Intangible Asset to Buyer. Upon consummation of the transactions contemplated by this Agreement, Buyer will acquire good and marketable title, license or leasehold interest to the Intangible Asset free and clear of any Liens and there exists no restriction on the use or transfer of the Intangible Asset.
Intangible asset. On January 31, 2002, the Company entered into an Asset Purchase Agreement to acquire all the rights to the intellectual property known as "Carb Fighter". The total cash consideration paid was $250,000. The intangible asset represents the purchase of all the license rights, title, patents, and interest to certain proprietary formulas.
Intangible asset. The Company continually monitors its intangible assets to determine whether any impairment has occurred. In making such determination with respect to these assets, the Company evaluates the performance on an undiscounted cash flow basis, of the intangible assets or group of assets, which gave rise to an asset's carrying amount. Should impairment be identified, a loss would be reported to the extent that the carrying value of the related intangible asset exceeds the fair value of that intangible asset using the discounted cash flow method. The Company has not amortized intangible assets as operations have not commenced. THINKA WEIGHT-LOSS CORPORATION (Formerly Encore Ventures, Inc.) (A Development Stage Company) NOTES TO FINANCIAL STATEMENTS JUNE 30, 2002 (Stated in U.S. Dollars)