What is "intangible property"?

Intangible property refers to non-physical assets that provide value but do not have a physical presence. This includes items that represent legal rights or concepts rather than material goods. Trademarks and copyrights are prime examples, as they protect the identity and creative works of individuals or businesses without being tangible objects that can be handled or touched.

Understanding intangible property is essential in real estate and business because these assets often hold significant value, influencing the overall worth of a brand or a business operation. It differs fundamentally from physical assets, such as land and buildings, which are classified as tangible property; these assets can be physically interacted with and owned outright. The distinction is crucial in legal and financial contexts, where the treatment and protection of intangible versus tangible assets can impact transactions and ownership rights.