In the movie, "Schindler's List", Oskar Schindler commented to his accountant: My father was fond of saying you need three things in life – a good doctor, a forgiving priest, and a clever accountant.
Section 197 intangibles are certain intangible assets acquired after August 10, 1993 (or after July 25, 1991, if chosen) in connection with the acquisition of a business which must be amortized over 15 years from the date of acquisition regardless of the assets useful life.