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In our comment letter, we do not believe there is a widespread need to significantly revise current US GAAP related to intangibles and recommend the Board focus its resources on other areas of financial reporting improvement. Should the Board decide to pursue a project on intangibles, we believe targeted, narrow-scope improvements would be a more effective approach, including aligning the recognition and measurement guidance for acquired in-process research and development assets, updating research and development (R&D) examples and considering feedback from preparers and investors before pursuing an R&D disclosure project.