Question
company A is suing company B for$500000 in relation to a breach or copyright . company B produced designer clothes identical to those for which
company A is suing company B for$500000 in relation to a breach or copyright . company B produced designer clothes identical to those for which company A holds legal rights, without permission and without paying companyA for permission to use the designs. legal experts have advise companyA that it has a strong case and that there is a 50% likelihood that company B will be required to pay damages, although these are estimated at $400000.
explain whether the potential damages receivable for companyA would meet the definition and recognition criteria of an asset, applying the principal in the proposed framework(2018 conceptual framework )
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