Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

(8) Goodwill and Other Intangible Assets

The Company’s goodwill and other intangible assets and related accumulated amortization as of December 31, 2013 and 2012 consist of the following:

	As of December 31,
	2013			2012
Total goodwill	$	27,997,286		$	25,726,239
Other intangible assets not subject to amortization:
Trade name	$	720,000		$	720,000
Total other intangible assets not subject to amortization		720,000			720,000
Other intangible assets subject to amortization:
Customer relationships		10,792,136			9,892,136
Software models		1,988,194			1,988,194
Noncompete agreement		130,000			1,339,535
Product databases		3,367,000			3,307,000
Trade names		500,000			480,000
Domain names		160,425			162,975
Total other intangible assets subject to amortization		16,937,755			17,169,840
Less accumulated amortization		(6,994,772	)		(6,699,283	)
Net other intangible assets subject to amortization		9,942,983			10,470,557
Total other intangible assets	$	10,662,983		$	11,190,557

Intangible assets were established through business acquisitions. Definite-lived intangible assets are amortized on a straight-line basis over a weighted-average period of approximately 9.8 years for customer relationships, 4.7 years for software models, 3.0 years for noncompete agreements, 9.7 years for product darabases and 9.7 years for trade names.

Amortization expense totaled approximately $1.6 million, $1.3 million and $1.4 million for the years ended December 31, 2013, 2012 and 2011, respectively. The estimated amortization expense for the next five years is as follows:

For the Years Ended December 31,		Amount
2014	$	1,684,358
2015		1,671,932
2016		1,633,621
2017		1,464,531
2018		785,301
Thereafter		2,703,240
Total	$	9,942,983