What are Intangible assets?
Intangible assets (Definition)
Intangible assets are assets that do not have a physical form and are not readily identifiable. It includes intellectual property, along with goodwill and brand awareness. On the other hand, tangible assets include things like land, buildings, machinery, and other types of physical property.
Intellectual property includes things like trademarks, patents, and licence agreements. Your intellectual property is yours alone, and no one else is permitted to use or reproduce it without your permission. Goodwill includes aspects such as the reputation of your firm, its strategies, its client base, and employee relations. To determine the value of your intangible assets, you would look at the value of the business, less the value of the business’ assets.