(The following is an excerpt from our 1031 Advisor newsletter located here )
As we have discussed in the past, intangible assets can be exchanged for like-kind intangible assets. The key, of course, is planning in advance to separate the assets to be sold and acquired to maximize the benefits of the Exchange.
Innovation. If history is any guide, the period during the Great Depression, from 1931 to 1938, was a period of tremendous innovation by US Companies. U.S. Companies expanded the size and number of laboratories to find new and innovative products to bring to the market. These products, such as nylon and Teflon, led the way to greater prosperity for the innovators and the country as a whole.
