Intangible Assets Definition
In business, an intangible asset is something of value that is not a physical object. An example is a patent.
Intangible Assets Expanded Definition
Intangible assets are items owned by a business that do not have a physical presence. These items cannot be touched or measured but are still considered assets.
Examples of intangible assets include:
- Customer lists
While accounting for intangible assets, use a financial statement called a balance sheet.
Last Updated By
Jenna Hutkowski | Apr 12, 2023