What should an entity evaluate when making an initial impairment assessment of an intangible asset (other than goodwill)?

An entity may perform qualitative assessments for its indefinite-lived intangible assets. If an entity elects to perform a qualitative assessment, it must examine relevant events and circumstances to determine whether it is more likely than not that the asset is impaired. Factors to consider include costs of using the intangible asset, legal and regulatory factors, as well as industry and market considerations. If the assessment indicates impairment is not likely, no further tests are required.