Business valuation and intangible assets

RICS Valuation – Global Standards (Red Book Global Standards) defines an intangible asset as:

'A non-monetary asset that manifests itself by its economic properties. It does not have physical substance but grants rights and economic benefits to its owner.'

and goodwill as:

'Any future economic benefit arising from a business, an interest in a business or from the use of a group of assets that is not separable.'

A number of standard and technical guides are published by various professional bodies that cover intangible assets and goodwill.

Steve Choi maintains this section.

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