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A service mark distinguishes the provider of a service rather than a product.
Intangible Asset
A non-physical asset having value due to its intellectual or proprietary characteristics, such as patents, trademarks, and goodwill.
Amortized
The gradual reduction of a debt through regular payments that cover both interest and principal over time.
Finite Life
The limited time span during which an asset is expected to be useful in the operations of a business, after which it becomes obsolete or non-functional.
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.
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