151k views
2 votes
Match the following definitions to the correct term. A. Patent B. Research and development costs C. Trademark D. Intangible assets E. Copyright F. Plant assets G. Goodwill H. Franchise

1 Answer

7 votes

Answer:

A. Patent: government license that provides title over an invention and right to use for a certain amount of time.

B. Research and development costs: costs incurred to develop new products or processes.

C. Trademark: a brand name or symbol that is registered under an individual or a business.

D. Intangible assets: non-physical assets, e.g. patents

E. Copyright: the legal right that the owner of a work (e.g. song, movie) possesses to decide who can use his work or not, and charge a fee for it.

F. Plant assets: asset that is used to generate revenue and whose useful life is more than one year.

G. Goodwill: when a business is sold, it represents an intangible asset associated with the reputation of the business.

H. Franchise: a business model where a franchisee starts a business by using someone else's (franchisor) business model and know how.

User SteveEdson
by
3.5k points