Copyrights in the context of "Asset"

⭐ In the context of financial accounting, copyrights are considered what type of asset for a business?

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⭐ Core Definition: Copyrights

A copyright is a type of intellectual property that gives its owner the exclusive legal right to copy, distribute, adapt, display, and perform a creative work, usually for a limited time. The creative work may be in a literary, artistic, educational, or musical form. Copyright is intended to protect the original expression of an idea in the form of a creative work, but not the idea itself. A copyright is subject to limitations based on public interest considerations, such as the fair use doctrine in the United States and fair dealing doctrine in the United Kingdom.

Some jurisdictions require "fixing" copyrighted works in a tangible form. It is often shared among multiple authors, each of whom holds a set of rights to use or license the work, and who are commonly referred to as rights holders. These rights normally include reproduction, control over derivative works, distribution, public performance, and moral rights such as attribution.

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👉 Copyrights in the context of Asset

In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset).The balance sheet of a firm records the monetary value of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business.Total assets can also be called the balance sheet total.

Assets can be grouped into two major classes: tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets. Current assets include cash, inventory, accounts receivable, while fixed assets include land, buildings and equipment.Intangible assets are non-physical resources and rights that have a value to the firm because they give the firm an advantage in the marketplace. Intangible assets include goodwill, intellectual property (such as copyrights, trademarks, patents, computer programs), and financial assets, including financial investments, bonds, and companies' shares.

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Copyrights in the context of Songwriter

A songwriter is a person who creates musical compositions or writes lyrics for songs, or both. The writer of the music for a song can be called a composer, although this term tends to be used mainly in the classical music genre and film scoring. A songwriter who mainly writes the lyrics for a song is referred to as a lyricist. Pressure from the music industry to produce popular hits means that songwriting is often a collaborative process with tasks shared among multiple people. For example, a songwriter who excels at writing lyrics might be paired with a songwriter with the task of creating original melodies. Pop songs may be composed by group members from the band or by staff writers – songwriters directly employed by music publishers. Some songwriters serve as their own music publishers, while others have external publishers.

The old-style apprenticeship approach to learning how to write songs is being supplemented by university degrees, college diplomas and "rock schools". Knowledge of modern music technology (sequencers, synthesizers, computer sound editing), songwriting elements and business skills are significant for modern songwriters. Several music colleges offer songwriting diplomas and degrees with music business modules. Since songwriting and publishing royalties can be substantial sources of income, particularly if a song becomes a hit record; legally, in the US, songs written after 1934 may be copied only by the authors. The legal power to grant these permissions may be bought, sold or transferred. This is governed by international copyright law.

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LINKED FROM (PARENTS)
← Asset ← Songwriter ← Tangible asset ← Songwriting ← Assets ← Total assets
LINKS TO (CHILDREN)
Intellectual property → Creative work → Limitations and exceptions to copyright → Fair use → Fair dealing → Derivative work → Performing rights → Moral rights →