When an asset, especially an intangible asset, has a Finite Useful Life, it implies that the asset has a limited useful life during which it can generate economic benefits. Examples are patent (17 years) and trademarks (10-15 years). Intangible assets with finite useful life are amortised over its useful life which is similar to the depreciation of fixed assets on a straight-line, diminishing balance, and unit of production methods.