Intangible assets have two primary traits:

They do not have a physical substance.

They are not financial instruments.

Intangible assets acquire value from the rights and privileges the owner grants to users, as with patents, trademarks, or copyrights. These assets can be created internally or purchased. In addition, how each asset's cost is determined depends on its use.

Imagine you are working as an accounting professional for Computer Company, Inc. The CEO noticed that the intangible assets are considerably higher than expected. She is questioning the valuation of each asset type and whether each is properly categorized. Your task is to prepare a response to the following:

Choose two asset categories from the following intangible assets:

Market$-$related.

Customer$-$related.

Artistic$-$related.

Contract$-$related.

Technology$-$related.

Compare the reporting and valuation of each.

Explain your rationale and support your response with two specific examples.