IB Business Management Topic 3.4.3 Intangible Assets Revision Notes (SL/HL)

IB Business Management Topic 3.4.3 Intangible Assets Revision Notes (SL/HL) | RevisionDojo

Written by official IB examiners

Intangible Assets: Non-Physical Assets with Long-Term Value

Consider your local bakery, all their physical essentials are obvious: a storefront, inventory, and equipment.
But what about the non-physical elements that make the business unique?
The smile on the owner's face, their expertise in kneading bread, their secret recipe for your favorite sourdough.
These are your intangible assets, the invisible yet invaluable resources that drive growth and differentiate businesses from competitors.

What Are Intangible Assets?

Definition

Intangible Assets

Non-physical assets with value, such as patents, trademarks, copyrights, and goodwill.

They include:
1. Patents
  1. A patent is a legal right granted by a government to an inventor, giving them exclusive rights to make, use, or sell an invention for a certain period (usually 20 years).
  2. It protects new and useful inventions, such as products, processes, or machines.
2. Logo
  1. A logo is a unique design, symbol, or emblem representing a company, brand, or organization.
  2. It is used for brand identity and recognition in the marketplace.
3. Copyrights
  1. Copyright is a legal protection granted to creators of original works, such as books, music, movies, software, and art.
  2. It gives the creator exclusive rights to reproduce, distribute, and display their work for a specific period (usually the creator’s lifetime plus 70 years in many countries).
4. Brand Value
  1. Brand value refers to the financial worth or perception of a brand in the market.
  2. It is determined by factors such as customer loyalty, reputation, market position, and financial performance.
  3. High brand value means a brand is widely recognized and trusted.

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Definition

Paywall

(on a website) an arrangement whereby access is restricted to users who have paid to subscribe to the site.

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Duis aute irure dolor in reprehenderit

Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

Note

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam quis nostrud exercitation.

Excepteur sint occaecat cupidatat non proident

Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit.

Tip

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris.
Duis aute irure dolor in reprehenderit in voluptate velit esse cillum.

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Intangible Assets: Non-Physical Assets with Long-Term Value

Consider your local bakery, all their physical essentials are obvious: a storefront, inventory, and equipment.
But what about the non-physical elements that make the business unique?
The smile on the owner's face, their expertise in kneading bread, their secret recipe for your favorite sourdough.
These are your intangible assets, the invisible yet invaluable resources that drive growth and differentiate businesses from competitors.

What Are Intangible Assets?

Definition

Intangible Assets

Non-physical assets with value, such as patents, trademarks, copyrights, and goodwill.

They include:
1. Patents
  1. A patent is a legal right granted by a government to an inventor, giving them exclusive rights to make, use, or sell an invention for a certain period (usually 20 years).
  2. It protects new and useful inventions, such as products, processes, or machines.
2. Logo
  1. A logo is a unique design, symbol, or emblem representing a company, brand, or organization.
  2. It is used for brand identity and recognition in the marketplace.
3. Copyrights
  1. Copyright is a legal protection granted to creators of original works, such as books, music, movies, software, and art.
  2. It gives the creator exclusive rights to reproduce, distribute, and display their work for a specific period (usually the creator’s lifetime plus 70 years in many countries).
4. Brand Value
  1. Brand value refers to the financial worth or perception of a brand in the market.
  2. It is determined by factors such as customer loyalty, reputation, market position, and financial performance.
  3. High brand value means a brand is widely recognized and trusted.

Definition

Paywall

(on a website) an arrangement whereby access is restricted to users who have paid to subscribe to the site.

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Note

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam quis nostrud exercitation.

Excepteur sint occaecat cupidatat non proident

Tip

Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris.
Duis aute irure dolor in reprehenderit in voluptate velit esse cillum.

Unit 1: Introduction to Business Management - Core operational components and business functions6 subtopics

Unit 2: HR Management - Motivation, Structure, Hierarchy7 subtopics

Unit 3: Financial Management - Accounting, Ratio evaluation, Core Financial Documents9 subtopics

Unit 4: Marketing Management - The 7 P's, strategies and forecasting6 subtopics

Unit 5: Operations Management - Production Methods, Production planning and management9 subtopics

BM Toolkit - Core business frameworks and tools15 subtopics

IB Business Management 3.4.3 Intangible Assets Notes

Unit 1: Introduction to Business Management - Core operational components and business functions6 subtopics

Unit 2: HR Management - Motivation, Structure, Hierarchy7 subtopics

Unit 3: Financial Management - Accounting, Ratio evaluation, Core Financial Documents9 subtopics

Unit 4: Marketing Management - The 7 P's, strategies and forecasting6 subtopics

Unit 5: Operations Management - Production Methods, Production planning and management9 subtopics

BM Toolkit - Core business frameworks and tools15 subtopics

Intangible Assets: Non-Physical Assets with Long-Term Value

What Are Intangible Assets?

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Excepteur sint occaecat cupidatat non proident

Unlock the rest of this chapter with a free account

Intangible Assets: Non-Physical Assets with Long-Term Value

What Are Intangible Assets?

anim nostrud sit dolore minim proident quis fugiat velit et eiusmod nulla quis nulla mollit dolor sunt culpa aliqua

Duis aute irure dolor in reprehenderit

Excepteur sint occaecat cupidatat non proident

Unlock the rest of this chapter with a free account