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:

  • Copyrights
  • Patents
  • Customer lists
  • Goodwill
  • Trademarks

While accounting for intangible assets, use a financial statement called a balance sheet.

Related Articles
What Are Intangible Assets?
What Is a Balance Sheet?

Last Updated By

Rachel Blakely-Gray | Apr 12, 2023

Check out Our Accounting Software

See a Demo

Back to Top