Annual report pursuant to Section 13 and 15(d)

Other long-term assets

v2.4.0.8
Other long-term assets
12 Months Ended
Dec. 31, 2013
Other long-term assets [Abstract]  
Other long-term assets
Note 3.  Other long-term assets:
 
Other long-term assets consisted of the following as of December 31:
 
   
2013
   
2012
 
         
Patents, trademarks and applications, net of accumulated amortization of $422,261 and $345,692
 
$
1,214,797
   
$
1,210,698
 
Goodwill
   
387,239
     
387,239
 
Other
   
10,124
     
3,957
 
                 
   
$
1,612,160
   
$
1,601,894
 
 
The Company capitalizes legal costs and filing fees associated with obtaining patents on its new discoveries. Once the patents have been issued, the Company amortizes these costs over the shorter of the legal life of the patent or its estimated economic life using the straight-line method. Based upon the current status of the above intangible assets, the aggregate amortization expense is estimated to be approximately $76,000 for each of the next five fiscal years. The Company tests intangible assets with finite lives upon significant changes in the Company's business environment. The testing resulted in approximately $33,000, $45,000, and $275,000 of patent impairment charges during the years ended December 31, 2013, 2012, and 2011, respectively. The impairment charges are related to the Company's ongoing analysis on which specific patents in specific countries the Company intends to continue to pursue.