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Typical Intangible Assets include R&D, patents, copyright, franchises, goodwill, trademarks, trade names, software and other computer-based facilities.
The Intangible Assets normally lose Financial Accounting regulations assume that all Intangible Assets (with very few exceptions like Goodwill) continuously lose their value over time which accounts as is being accounted for as Amortization.
It is similar to Depreciation of Tangible AssetsAmortization in Financial Accounting.
Intangible Assets can be both Short Term and (called Current Assets) and Long-Term.
See also
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Business / Business Administration / Financial Management / Financial Accounting
[ Asset ] [ Fixed Asset ] [ Intangible Asset ] [ Current Asset ]
[ Amortization ][ Depreciation ][ Profit and Loss (P&L) ]