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Unformatted text preview: condition for its intended use. This includes purchase price, legal fees, and filing fees; however, research and development is not included. Patents last for 20 years, copyrights last for the life of the author plus an additional 70 years, and trademarks are purchased for 10 year renewable periods. This is compared to the Netherlands where the costs of the internally developed brands, patents, and licenses and research and development are all expensed. Also in the Netherlands, other intangible fixed assets are capitalized and amortized by the straight line method over 3 years. Fixed Assets in the Netherlands are stated at replacement cost less accumulated depreciation, and in the United States, Assets are valued on basis of their original costs, and inventory following both the conservative principle and the lower cost or market....
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- Fall '08