a Active Market - is a market in which all the following conditions exist: 1) the items traded in the market are homogeneous, 2) willing buyers and sellers can normally be found at any time; and 3) prices are available to the public.
b Amortization - is the systematic allocation of the depreciable amount of an intangible asset over its useful life.
c Development - is the application of research findings or other knowledge to a plan or design for the production of new or substantially improved materials, devices, products, processes, systems, or services before the start of commercial production or use.
d Intangible Assets - are identifiable non-monetary asset without physical substance.
e Intangible Heritage Assets - are intangible assets which displayed the following characteristics:
1. Their value in cultural, environmental and historical terms is unlikely to be fully reflected in a financial value based purely on a market price;
2. Legal and/or statutory obligations may impose prohibitions or severe restrictions on disposal by sale;
3. Their value may increase over time; and
4. It may be difficult to estimate their useful lives, which in some cases could be several hundred years.
f Research - is original and planned investigation undertaken with the prospect of gaining new scientific and technical knowledge and understanding?