Amortization of intangible assets is the systematic expense of an asset’s value over its estimated useful life. This method of accounting is in accordance with Generally Accepted Accounting Principles (GAAP), and is used as a way to spread out a company’s intangible assets costs on their income statements over its expected benefits period. Intangible assets can be anything from patents, copyrights, branding and marketing efforts, or software license fees. By spreading out the cost associated with the intangible asset, it allows for the cost of such assets to be more easily tracked and reported.