Intangible Asset (Noun)
Meaning
Assets that are saleable though not material or physical.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The company's goodwill and brand recognition were considered valuable intangible assets that required careful management.
- Intellectual property, such as patents and trademarks, is a crucial intangible asset for many technology companies.
- The firm's highly skilled workforce and organizational knowledge were seen as key intangible assets driving its market success.
- After acquiring a smaller business, the company found that its most significant assets were the intangible assets, including the brand name and customer relationships.
- The company's most valuable intangible assets were its proprietary software and trade secrets, which gave it a competitive edge in the industry.