Intangible assets

Intangible assets

1. they are non-monetary assets without physical appearance susceptible of economic valuation ». That is, despite not having material support, they are capable of generating value for the company.

2. Advantages of intangible assets in a business

   • Improving your ability to increase sales
     • Intangible assets allow you to open new business lines in which to obtain new demand. Example of this are patents.
   • Reducing production costs
     • growth of the company's productivity, which allows to reduce production costs. Example, the know-how allows the company to perform tasks that without that know-how would be impossible in the short term or that might be approachable in the long term with very high costs.
   • The transfer of rights of use on intangible assets
     • obtaining income derived from the transfer of rights of use of certain intangible assets. Example, patents, copyrights, sharing company experiences useful for its customers, etc.
   • The reduction in the tax base of the Corporate Income Tax on income from certain intangible assets
     • Corporate Tax Law establishes a reduction in the tax base of income from certain intangible assets.
   • The sale of intangible assets
     • the company can generate income from the sale of said assets, so that the final control of said assets is transmitted.
   • The advantageous position they can generate in operations between companies
     • operations between companies such as the acquisition of companies, the takeover of a company, the conduct of joint ventures, the realization of long-term collaboration contracts between two or more companies and many others, the valuation of intangibles can be a determining element.