An intangible asset is recognised if (1) it arises from contractual or other legal rights, and (2) it is separable to the extent of being able to separate from the acquired entity and sold, transferred, licensed, rented or exchanged. When an intangible asset such as goodwill cannot be recognised or separated from the tangible asset, then the potential economic benefits cannot be attributed and accurately measured for which reason it cannot be valued by business valuation analysts.