Renaissance for LEADERS

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Tag: Intangible

Amortization

1. A tax deduction for the gradual consumption of the value of an intangible asset. For example, if a company spends $10 million on a 10-year license, it amortizes the expense by deducting $1,000,000 from its taxable income per year for 10 years. Often used interchangeably with depreciation, which is the same thing for tangible assets. 2. The spreading of loan repayments over a given period of time.

Intellectual Property

Intangible assets that are products of the intellect that is the result of creativity, with commercial value including trademarks, copyrighted property such as literary or artistic works, patents, business methods, ideas, know-how, systems, and industrial processes, etc.

Licensing

Renting or leasing an intangible asset. It is a process of creating and managing contracts between the owner of the asset and a company or individual who wants to use the asset in association with a product, for an agreed period of time, within an agreed territory, for an agreed payment.

Spirit

1. The Lifeforce, you, the one who perceives what exists and what is needed and wanted. 2. That which is traditionally believed to be the vital principle or animating force within living beings. 3. Any supernatural being, such as a ghost. 4. That which constitutes one’s unseen, intangible being. 5. The essential and activating principle of a person; the will. 6. To impart courage, animation, or determination, or determination to; stimulate; encourage.

Spiritual

1. Of, relating to, consisting of, or having the nature of spirit; not tangible or material. 2. Of, concerned with or affecting the soul. 3. Of, from or pertaining to God. 4. Of or belonging to a church or religion; ecclesiastical; sacred. 5. Pertaining to or having the nature of spirits; supernatural.

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