Non-physical assets that lack a physical presence but hold value for a company, such as patents, trademarks, copyrights, or brand reputation.
Intangible assets refer to non-physical assets that hold value for a business but lack a physical presence. These assets are typically intellectual or legal in nature and can include items like patents, trademarks, copyrights, brand reputation, customer loyalty, and proprietary technology. Unlike tangible assets, intangible assets are not easily quantifiable and often require specialized valuation methods. Small business owners should understand and manage their intangible assets to protect and leverage their competitive advantage and long-term value.