In business, tangible assets can be included in both non-current assets (such as machinery or buildings) and current assets (such as inventory). A tangible asset must provide reasonably estimable future economic benefits and must be the result of a previous transaction, such as a purchase. However, intangible assets are critical to achieving the bottom line.
If a company’s intangible resources are managed correctly, it can be said that it will achieve a superior competitive advantage over other companies. To be able to manage these values it is important to know them, they are characterized by:
- They lack a physical support. In other words, they are immaterial.
- They cannot be measured or quantified.
- They store information and knowledge that is very useful for the success of the company.
In this sense, among the different types of intangible resources we can differentiate: market assets, which include brands, the company name, consumer loyalty, distribution channels, marketing strategies, among others; Intellectual property assets, i.e. patents, copyrights, designs and/or trade secrets; Human assets, such as religion, education and labor relations. Infrastructure assets such as the company’s corporate culture, financial relationships, business management philosophy, network systems, etc.
In short, and as can be seen, intangible resources are an essential part of any company, since thanks to them a brand value is achieved that better positions the company within its market. For this reason, investment in intangibles such as training, patents and strategies allow a greater competitive advantage capable of generating a greater number of sales.
Lic. Génesis Moyeda Salazar.
Gloria Ponce de León & Hernández
The term FinTech is an abbreviated conjunction of the terms “finance” and “technology” in English and refers to any business that uses technology to improve or automate financial services and processes.
FinTechs are part of the evolution of traditional business models towards a digital world. It refers to companies that, through new tools and platforms, develop financial solutions and services, which, for example, enable payments, loans, investments, financial consulting, insurance, among others, through digital means.
Some of the benefits of FinTech technology are agility and efficiency in processes.
The Law to Regulate Financial Technology Institutions (LRITF) aims to regulate the financial services provided by the ITFs, their organization, operation and functioning and the financial services subject to any special regulations that are offered or carried out by innovative means and is based in the principles of inclusion and financial innovation, promotion of competition, consumer protection and prevention of illicit operations.
To organize and operate as a Financial Technology Institution (ITF) it is necessary to obtain authorization from the National Banking and Securities Commission (CNBV), prior agreement of the Inter-institutional Committee, which is made up of public servants from the Ministry of Finance and Credit. Public (SHCP), the Bank of Mexico (Banxico) and the (CNBV).
Those interested in obtaining authorization to act as ITFs must be Corporations constituted or intending to be constituted as such, in accordance with Mexican legislation and that in their bylaws:
- Include in their corporate purpose the performance, on a regular or professional basis, of any of the activities provided for in the Law to Regulate Financial Technology Institutions.
- Expressly provide that, in carrying out their corporate purpose, they must comply with the provisions of the Law and its applicable general provisions.
- Establish a domicile in the national territory, and
- Set a minimum capital necessary to carry out their activities in accordance with the provisions of the General Provisions issued by the CNBV, which will be differentiated based on the type of activities carried out and the risks faced.
The legal entities constituted in accordance with the Mexican mercantile legislation, other than the ITFs, the Financial Entities and other subjects supervised by any Supervisory Commission (the CNBV, CONSAR, CNSF and CONDUSEF), with respect to their areas of competence) or by Bank of Mexico (Banxico), must obtain authorization so that through the figure of Novel Models they carry out any activity whose performance requires an authorization, registration or concession in accordance with the LRIFT or by another financial law.
For more information do not hesitate to contact us.
Gloria Ponce de León & Hernaández