At first glance, it would seem that your employees are tangible assets. The skill set of your company’s workers, more than the workers themselves, is an asset, and since abilities can’t be touched, it’s an intangible asset.

A tangible resource is one that people can “reach out and touch.” Hard currency, equipment and real estate are all examples of tangible resources. By contrast, intangible assets are those which have no physical form. Copyrights, patents and reputation are examples of intangible assets.

A recent study has concluded that Human resource is an intangible asset and it can now be measured in value terms.

As mentioned above, a tangible resource is one that you can “reach out and touch.” (Osborne, 2001), they are also commonly called as tangible assets or physical assets. Hard currency, equipment and real estate are all examples of tangible resources.

Examples of intangible assets include goodwill, brand recognition, copyrights, patents, trademarks, trade names, and customer lists. You can divide intangible assets into two categories: intellectual property and goodwill.

Tangible assets are physical; they include cash, inventory, vehicles, equipment, buildings and investments. Intangible assets do not exist in physical form and include things like accounts receivable, pre-paid expenses, and patents and goodwill.

Tangible assets are the main type of assets that companies use to produce their product and service. Intangible assets are non-physical assets that have a monetary value since they represent potential revenue. Intangible assets include patents, copyrights, and a company’s brand.

‘Tangible Cultural Heritage’ refers to physical artefacts produced, maintained and transmitted intergenerationally in a society. Examples of intangible heritage are oral traditions, performing arts, local knowledge, and traditional skills.

A tangible product is a physical object that can be perceived by touch such as a building, vehicle, or gadget. Most goods are tangible products. An intangible product is a product that can only be perceived indirectly such as an insurance policy.

Examples of intangible assets include patents, trademarks, copyrights, goodwill, brand recognition, customer lists, and proprietary technology. For example, owners looking to sell their company may hire a business appraiser to specifically value the company’s intangible assets.

Tangible benefits are quantifiable and measurable. They’re used to weigh the value of a job. Intangible benefits derive from how a person feels about their work. Job satisfaction is a main bench marker of an intangible benefit.

Types of Intangible Assets

• Patents, copyrights and licenses.
• Customer lists and relationships.
• Non-compete agreements.
• Favorable financing.
• Software.
• Trained and assembled workforces.
• Contracts.
• Leasehold interests.

Examples of intangible personal property include patents, copyrights, licenses, and computer software.

Intangible assets are identified separately on a company’s financial statements, and come in two primary forms: legal intangibles and competitive intangibles. Legal intangibles are also known as intellectual property, and include trade secrets, copyrights, patents, and trademarks.

The accounting for an intangible asset is to record the asset as a long-term asset and amortize the asset over its useful life, along with regular impairment reviews. The accounting is essentially the same as for other types of fixed assets.

Goodwill, brand recognition and intellectual property, such as patents, trademarks and copyrights, are all intangible assets.

Intangible in a Sentence 🔉

1. While emotions can be expressed, they are intangible because they cannot be physically touched.
2. Love is the intangible bond that keeps my husband and I together.
3. When a man dies, his intangible soul exits his human form.
4. Skydiving provides me with an intangible rush that soars through my body.

FIRST, WHAT THE HELL IS AN INTANGIBLE CONCEPT? It’s a word/ phrase/ term we understand conceptually (with our brains) but can’t physically grasp it (we can’t see it, taste it, touch it, smell it or hear it).

adjective. hard to pin down or identify. “an intangible feeling of impending disaster” Synonyms: unidentifiable. impossible to identify.