Patents and copyrights fall under which category of as per Schedule III of the Companies Act 2013?
Answer & explanation
Correct answer: option 3
The correct answer is option 3- Intangible Assets.
Patents and copyrights fall under the intangible asset category of as per Schedule III of the Companies Act 2013
An intangible asset is an asset that is not physical in nature. Goodwill, brand recognition and intellectual property, such as patents, trademarks, and copyrights, are all intangible assets. Intangible assets exist in opposition to tangible assets, which include land, vehicles, equipment, and inventory.