Final answer:
Research and development costs are not considered an intangible asset as they are typically expensed due to the uncertainty of future benefits, whereas patents, trademarks, and goodwill, which are capitalized, represent ownership and measurable future economic benefits.
Step-by-step explanation:
The intangible asset that would not be considered among the options provided is a. Research and development costs. Intangible assets are non-physical assets that include intellectual properties such as patents, trademarks, and goodwill. These assets represent potential future benefits and are recognized on a company's balance sheet. However, research and development (R&D) costs are typically expensed as incurred, unless they meet certain criteria for capitalization, due to the uncertainty associated with the future economic benefits they may generate.
In the context of intellectual property, patents and trademarks fall under the body of law protecting inventors and their inventions, conferring exclusive rights and competitive advantage, thus they have private benefits. Goodwill represents the premium that is paid over the fair market value of a company, reflecting the established reputation and customer base, which are also considered private benefits. Contrary to these, R&D costs are not certain to result in a commercially viable product, hence are not capitalized as an asset until there is a clear outcome that will bring economic benefits to the company.