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Patent Amortization
This refers to the systematic reduction over time of the book value of a patent, treated as a non-cash expense on the income statement, reflecting the expiration of the patent's useful life.
Amortization Period
The amortization period is the duration over which an intangible asset's cost is gradually expensed or written off through systematic charges to income.
Impairment
The reduction in recoverable value of a fixed asset or goodwill below its carrying amount on the balance sheet, leading to a charge against earnings.
Franchise Cost
Initial and ongoing fees paid by a franchisee to a franchisor for the rights to use the franchisor's brand and operating system.
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