An asset is identifiable if it either: (a) is separable, ie capable of being separated or divided from the entity and sold, transferred, licensed, rented or exchanged, either individually or together with a related contract, identifiable asset or liability, regardless of whether the entity intends to do so; or (a) arises from contractual or other legal rights, regardless of whether those rights are transferable or separable from the entity or from other rights and obligations.