When intangibles are recognized as assets, their cost is written off over their service life. For example, patents have a maximum life of approximately 17 years. In no case can the life of an intangible asset exceed 40 years. The process is called amortization . Amortization, therefore, means . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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