Intangible assets

Definition

Intangible assets are non-physical assets that have value due to the rights or information they provide to a business. They include intellectual property, brand names, and software.

Related terms

Intellectual Property:

Legal rights given to creations of the mind, such as inventions, literary works, and symbols.

Goodwill:

The excess value paid in a transaction for a company over its net asset value, often arising from its reputation or customer relationships.

Balance Sheet:

A financial statement that summarizes a company’s assets, liabilities, and shareholders' equity at a specific point in time