Information concerning Blossom Corporations intangible assets follows:

1.		Blossom incurred $ 67,900 of experimental and development costs in its laboratory to develop a patent which was granted on January 2, 2020. Legal fees associated with registration of the patent totaled $ 25,200. Blossom estimates that the useful life of the patent will be 10 years; the legal life of the patent is 20 years.
2.		On January 1 2020, Blossom signed an agreement to operate as a franchisee of Dairy King, Inc. for an initial franchise fee of $ 153,000. The agreement provides that the fee is not refundable and no future services are required of the franchisor. Blossom estimates the useful life of the franchise to be 15 years.
3.		A trade name was purchase from Stine Company for $ 79,200 on May 1, 2018. Expenditures for successful litigation in defense of the trade name totaling $ 23,040 were paid on June 1, 2020. Blossom estimates that the trade name will have an indefinite life.