Other Assets are just like fixed assets, although they are considered intangible.  They have the same purpose as Fixed Assets, and the following demonstrates different types of this category.

Patent Intellectual Property
A patent allows the owner to have a set number of years for which they have exclusive rights to a particular invention for which they can manufacture, use, and sell.  It also protects the owner from others infringing or profiting from their proprietary rights.

Trademark
A trademark consists of any figure, letter, word, mark, name, or symbol to help distinguish their particular company/brand from others.  It also protects the owner from others infringing or profiting from their proprietary rights.

Copyright
A copyright gives the owner the exclusivity to make copies, license, and promote a literary, musical, or artistic work in printed, audio, video, etc. works, which extend for the life of the author and for a period of 50 years after their death.

Intellectual Property
Intellectual property is thoughts that have commercial value, and includes copyrighted property, patents, business methods, and industrial processes.

Organization Costs
Organization costs refers to the cost of the formation of a company, which may include: attorney fees, state incorporation fees, and accountant fees.

Goodwill
Goodwill is considered a long-term asset when a company acquires another company’s entire business.  The formula is based upon the purchase cost of the business, minus its value from the tangible assets, as well as the liabilities obtained from its purchase.  It is also considered the value of a business based upon the expected continued customer patronage due to its name, reputation, and other factors which are deemed of value.

Amortization
Similar to depreciation, it is the process of expensing intangible assets over a certain period of time.

I hope this helps.  Check out our QuickBooks Training Classes in the Houston area.