Intangible Item

An asset that is not physical in nature. Corporate thoughtful house (items such as patents, trademarks, copyrights, business methodologies), generosity and emblem acknowledgement are all widespread intangible assets in today's marketplace. An intangible asset can be classified as either indefinite or definite counting on the details of that asset. A company brand name is considered to be an indefinite asset, as it stays with the company as long as the company continues operations (www.ehow.com). However, if a business goes into a lawful affirmation to operate under another company's patent, with no plans of extending the affirmation, it would have a ...