Intangible assets, net

6 Months Ended

Jun. 30, 2013

Intangible assets, net

Intangible assets, net

8. Intangible assets, net

The balance of intangible assets is comprised of the following:

	June 30, 2013			December 31, 2012
	(Unaudited)
Covenant not to compete	$	3,533		$	3,533
Trade names	15,443			15,088
Proprietary know how	34,650			34,650
Lease contract rights	51,650			51,650
Management contract rights	81,000			81,000
Accumulated amortization	(26,045		)	(10,334		)
Intangible assets, net	$	160,231		$	175,587

Amortization expense related to intangible assets included in depreciation and amortization was $4,983 and $8,902 for the three and six months ended June 30, 2013, respectively. Amortization for lease contracts rights was $2,633 and $5,824 for the three and six months ended June 30, 2013, respectively, and is included in cost of parking services of lease contracts. There was no amortization for lease contracts included in cost of parking services for lease contracts for the three and six months ended June 30, 2012.