A intangible asset is an asset that has no physical substance. Typically, intangible assets are non-physical and non-monetary assets. For example, marketable securities and loans are financial assets, but not intangible assets. Likewise, inventories and fixed assets, such as property and equipment, are physical assets.

Examples of intangible assets:

• Patents.
• Goodwill.
• Copyrighted materials, etc.

Intangible assets may also come in the form of internal-use intangibles (back-room intangible assets) such as technical documentation, engineering drawings, operating procedures, employee manuals, a trained and well-positioned workforce, etc.