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Other Intangible Assets | 6 Months Ended
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Jun. 30, 2013
Other Intangible Assets [Abstract] |
Other Intangible Assets | 3. Other Intangible Assets Other intangible assets include patent application costs, customer lists and non-compete agreements obtained as a result of acquisitions. The Company's patents and trade secrets are for document anti-counterfeiting and anti-scanning technologies and processes that form the basis of the Company's document security business. Patent application costs are capitalized and amortized over the estimated useful life of the patent, which generally approximates its legal life. The Company accounts for other intangible amortization as an operating expense, unless the underlying asset is directly associated with the production or delivery of a product. Costs incurred to renew or extend the term of recognized intangible assets, including patent annuities and fees, are expensed as incurred. To date, the amount of related amortization expense for other intangible assets directly attributable to revenue recognized is not material. Other intangible assets are comprised of the following:
|  |  |  | June 30, 2013 |  |  | December 31, 2012 |
|  | Useful Life |  | Gross Carrying Amount |  |  | Accumulated Amortizaton |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortizaton |  |  | Net Carrying Amount |
Acquired intangibles |  | 5 -10 years |  | $ | 2,405,300 |  |  | $ | 1,365,917 |  |  | $ | 1,039,383 |  |  | $ | 2,405,300 |  |  | $ | 1,243,865 |  |  | $ | 1,161,435 |
Patent application costs |  | Varied (1) |  |  | 1,009,220 |  |  |  | 311,672 |  |  |  | 697,548 |  |  |  | 956,714 |  |  |  | 265,472 |  |  |  | 691,242 |
|  |  |  | $ | 3,414,520 |  |  | $ | 1,677,589 |  |  | $ | 1,736,931 |  |  | $ | 3,362,014 |  |  | $ | 1,509,337 |  |  | $ | 1,852,677 |
(1)- patent rights are amortized over their expected useful life which is generally the legal life of the patent. As of June 30, 2013, the weighted average remaining useful life of these assets in service was approximately 9.8 years. Amortization expense for the six months ended June 30, 2013 amounted to $168,252 ($152,052 - 2012). Approximate expected amortization for each of the five succeeding fiscal years is as follows:
2014 |  | $ | 314,000 |
2015 |  | $ | 314,000 |
2016 |  | $ | 227,000 |
2017 |  | $ | 189,000 |
2018 |  | $ | 176,000 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16373-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 + Details
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