Identifiable intangible assets are those that can be separated from other assets and can even be sold by the company. These are assets such as intellectual property, patents, copyrights, trademarks, and trade names. ... The most commonplace unidentifiable intangible asset is goodwill.

Is intangible asset an identifiable asset?

An intangible asset is an identifiable non-monetary asset without physical substance. Such an asset is identifiable when it is separable, or when it arises from contractual or other legal rights. ... Examples of intangible assets include computer software, licences, trademarks, patents, films, copyrights and import quotas.

What are identifiable assets?

Identifiable assets consist of anything that can be separated from the business and disposed of such as machinery, vehicles, buildings, or other equipment. If an asset is not deemed to be an identifiable asset, then its value is considered part of the goodwill amount arising from the acquisition transaction.