Discussion - Chapter 11 Intangible Assets \#1 Chapter 11 Intangible asset (MO1.1 &MO1.2) Description: An intangible asset is an asset that lacks physical substance. Examples are patents, copyright, franchises, goodwill, trademarks, and trade names, as well as software. This is in contrast to physical assets and financial assets. An intangible asset is usually very difficult to valuate. Wikipedia Please discuss why Wikipedia states above the "An intangible asset is usually very difficult to valuate." Please provide some examples of said intangible assets and how they would be recorded on the balance sheet