ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -An intangible asset is a non-physical asset. Examples of intangible assets include patents, trademarks, copyrights, goodwill, brand recognition, customer lists, and proprietary technology. Because an intangible asset has no physical form and isn’t easily converted to cash, calculating its value can be challenging.

Detailed explanation-2: -An intangible asset is an asset with no physical form. It’s a long-term asset that accrues value year over year. Examples of intangible assets include intellectual property, brand recognition and reputation, relationships, and goodwill.

Detailed explanation-3: -Intangible products-travel, freight forwarding, insurance, repair, consulting, computer software, investment banking, brokerage, education, health care, accounting-can seldom be tried out, inspected, or tested in advance.

Detailed explanation-4: -Intangible assets are the resources a business owns that are not physical, but still provide real value. A common example of intangible assets is intellectual property held by a business, such as songs, designs, trademarks, software licenses, motion pictures, customer lists and franchises.