Wiley GAAP 2020 by Joanne M. Flood

Author:Joanne M. Flood [Flood, Joanne M.]
Language: eng
Format: epub
ISBN: 9781119652670
Publisher: Wiley
Published: 2019-01-02T00:00:00+00:00

Exhibit—Categories of Distinct Licenses of Intellectual Property: FASB’s Alternative Approach

Symbolic license. With a symbolic license, the IP may change over the course of time. This can occur because of the entity’s continuing involvement with activities that affect its IP. Even if the right is unchanged, the benefit or value to the customer may be affected by the licensor’s activities during the license period. With symbolic IP, the entity fulfills its obligation over time, as the entity:

Grants the customer rights to use and benefit from the entity’s intellectual property by making it available for the customer’s use

Supports or maintains the intellectual property.

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