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Chapter 12: 12-11Q (page 637)

Explain the difference between artistic-related intangible assets and contract-related intangible assets.

Short Answer

Expert verified

The distinction between artistic-related intangible assets and contract-related intangible assets is that copyrights protect artistic-related assets, but contract-related assets represent the value of rights arising from contractual agreements.

Step by step solution

01

Artistic-related intangible assets

Ownership rights to plays, photos, photographs, and video and audiovisual content are examples of artistic intangible assets. Copyrights safeguard these ownership rights.

02

Contract-related intangible assets

These are the worth of rights arising from contractual agreements. Examples are franchise and license agreements, building permissions, broadcast rights, and service or supply contracts.

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