Answer
Factors to consider when estimating the useful life of an intangible asset include;
1. Expected use of the asset.
2. Legal provisions limiting or extending the use of the asset.
3. Economic factors i.e., demand, supply and competition.
4. Post creation support activities and factors affecting those activities.
5. Useful life of other assets to be used alongside the asset.
Work Step by Step
As summarized above.
