Legal Definitions - intangible asset

Definition: An intangible asset is a type of asset that does not have a physical form but has value to a company or individual. It can include things like intellectual property, brand recognition, and goodwill.

Examples:

• Patents
• Trademarks
• Copyrights
• Goodwill
• Brand recognition

These examples illustrate the definition of intangible assets because they are all assets that do not have a physical form but have value to a company or individual. For example, a patent is a legal right granted to an inventor that gives them exclusive rights to their invention for a certain period of time. This can be a valuable asset to a company because it gives them a competitive advantage in the market. Similarly, brand recognition and goodwill are intangible assets that can be valuable to a company because they help to build customer loyalty and trust.