Intangible assets are nonphysical assets used in operations that give owners' long-term rights or competitive advantages.

Intangible Assets

Non-physical assets owned by a business that have a value, such as patents, trademarks, and intellectual property.

Nonphysical Assets

Assets that do not have a physical form, such as patents, trademarks, and goodwill.

Competitive Advantages

Unique attributes or circumstances that give a business or product superiority over its competitors.