Your friend Harry does not understand the concept of an indefinite-life intangible asset. He wonders, Does this

Question:

Your friend Harry does not understand the concept of an indefinite-life intangible asset. He wonders, “Does this mean the life is infinite?” What does the authoritative literature say about indefinite-life ?

Intangible Assets
An intangible asset is a resource controlled by an entity without physical substance. Unlike other assets, an intangible asset has no physical existence and you cannot touch it.Types of Intangible Assets and ExamplesSome examples are patented...