What is a small business intangible asset?

A Simple Definition for Small Business (With Examples) An intangible asset is a resource that has no physical presence and has long-term value for a business. Copyright and a company’s reputation are considered intangible assets.

What are unidentifiable intangible assets?

Unidentifiable intangible assets include reputation, client relationships, goodwill, and brand recognition. You can’t sell any of these; they’re difficult—if not impossible—to quantify, but they greatly contribute to the value of a company. Unidentifiable intangible assets are often definite intangible assets, meaning they have a limited lifespan.

How long do intangible assets last?

Definite intangible assets have a precise lifespan, while indefinite ones do not. What are examples of intangible assets? Some examples of intangible assets include brand recognition, goodwill, and intellectual property (patents, domain names, confidential information, inventions, names, and the like).

What does intangible mean?

The meaning of intangible is something that can’t be touched or physically seen, according to the Cambridge Dictionary. Intangible resources don’t exist physically, though they still have value. Types of intangible assets include a business’s reputation, copyrights, trademarks and brand recognition.