Examlex
The consumption of fixed capital in each year's production is called
Amortized
This refers to the process of gradually paying off a debt through regular payments over a set period, factoring in both principal and interest.
Legal Life
The duration for which an asset is protected or regulated by legal rights, often referring to intellectual property or contractual agreements.
Patent
An exclusive right granted for an invention, which provides the patent holder with protection for the invention from commercial exploitation by others.
Intangible Asset
An asset that lacks physical substance, such as patents, trademarks, goodwill, and copyrights, which can nonetheless provide economic benefits.
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