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What is Intangible Asset? - Vietnam Valuation Standards

According to Vietnam Valuation Standard No.13, an intangible asset is defined as follows:

Intangible asset does not have a physical form and is likely to create economic rights and benefits – Vietnam Valuation Standard No. 13

Intangible asset is the entity subject to the asset valuation when it can meet all of the following requirements:

  • Have no physical form
  • Be recognizable and supported by visible evidence for its existence, such as contract, protection deed, certificate, computer software, list of clients and other documentary evidences;
  • Be able to provide profits for the asset owner;
  • Be able to measure the value of the intangible asset.

Intangible assets shall include main categories such as:

  • Intellectual asset;
  • Intellectual property rights stipulated by the law on intellectual property, such as authors’ rights, industrial property rights, etc.
  • Right to offer economic benefits to parties as defined in the civil contract under the provision of laws, such as mineral extraction right, trading right, and transferable emission right;
  • Non – contract relationships that offer economic benefits to parties, or relationships with clients, suppliers or other legal entities, such as a list of clients and database
  • Other intangible assets.

Source: Vietnam Valuation Standards

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