Intellectual property refers to creations of the mind. Examples include inventions, symbols, names, images, logos, and designs

Question:

Intellectual property refers to creations of the mind. Examples include inventions, symbols, names, images, logos, and designs used in commerce. For example, the annual reports for a mutual fund company will often list all fund managers with their associated professional credentials, academic history, and honors they have received. This provides useful information to the investors and helps individuals realize the value of good fund managers. Is there a way to “quantify” this type of information so that it can appear in the as an asset to the firm?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...