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Patent
Legal right granted by a government to an inventor, allowing them to exclude others from making, using, or selling their invention for a certain period of time.
Trademark
A legal designation that protects the exclusive use of a brand or product name.
Goodwill
The intangible asset that arises when a business is acquired for more than the fair value of its net identifiable assets.
Straight-Line Method
A method of calculating depreciation of an asset by evenly spreading the cost over its useful life.
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