INTANGIBLE ASSETS

12 Months Ended

Jan. 03, 2021

Intangible Assets

Intangible Assets

(5)         INTANGIBLE ASSETS

The Company has intangible assets that consist of liquor licenses, database, trademarks and patents, and reacquired franchise rights, net. The liquor licenses and trademarks/logos are indefinite-lived assets and are not subject to amortization. Reacquired franchise rights are amortized to depreciation and amortization expense on a straight-line basis over the remaining life of the reacquired franchise agreement. The database is amortized over three years.

The increase in intangible assets was due to the Granite City Acquisition described in Note 2 Restaurant Acquisition. Intangible assets consisted of the following:

(in thousands)	January 3, 2021		December 29, 2019
Reacquired franchise rights, net		1,246		1,788
Goodwill		601		640
Liquor licenses		868		425
Trademark/Logos/Patents		7,688		-
Database		165		-
Intangible assets, net	$	10,568	$	2,853

The following table provides the projected future amortization of reacquired franchise rights, net for the next five years, as of January 3, 2021:

(in thousands)	Reacquired Franchise Rights, net
Fiscal 2021	$	390
Fiscal 2022		390
Fiscal 2023		225
Fiscal 2024		104
Fiscal 2025		102
Thereafter		35
	$	1,246

The Company recognized amortization expense related to reacquired franchise rights of approximately $406,000 and $306,000 during the years ended January 3, 2021 and December 29, 2019, respectively, and expect to recognize the remaining balance over a period of 7 years.