V. N. Kirillov - Dr.Sc. (Econ.), Associate Professor, State University of management (Moscow). E-mail: Kirillov44@ yandex.ru

Intangible assets are the most important element of the value of modern companies. In the «new economy» the market value of the companies is associated mainly with financial assets and technologies, know-how, qualified personnel and other intangible assets. The use of intangible assets is possible from two dimensions: as an independent economic unit that you can buy and sell in the process of entrepreneurship, and as the elements of the business. In order for an intangible asset to be defined as independent economic unit, it must possess a number of characteristics, such as the opportunity to be identified with clear descriptions; the availability of legal existence (the possibility of legal protection of the asset); the existence of some absolute proof or evidences of its existence; the ability to generate economic income; the emergence or creation at a legally defined time or in the legally specified events; possibility of destruction or cessation of existence at an identifiable time or as a result of an identifiable event. Intangible assets in its capacity as elements of the company\'s business may not fit some of the above characteristics, since the complex nature of the portfolio of assets of the company allows to take into account phenomena that can generate economic income, but are difficult to identify for the purposes of legal protection. Some of the objects assigned to intangible assets cannot be identified in the same sense that determines the concept of «asset» current Russian and international legislation in the field of accounting. It seems that this is the cause of a mismatch between the book value and market value of the company in a situation where its market capitalization is significantly more than the carrying value of all its assets. Intangible assets of the company as an economic category, which determines its value on the market, represent a portfolio that includes four components: market-based intangible assets; intangible intellectual assets; human intangible assets; infrastructure intangible assets. A special category of intangible assets are the intellectual property rights. They have characteristics of legal existence and economic value available to other intangible assets, but due to its special order of acquisition and the importance of this category of intangible assets have a special legal recognition and legal protection.

 

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