Intangible property refers to assets that do not have a physical form but still hold value, such as intellectual property, patents, trademarks, copyrights, goodwill, and digital assets. Unlike tangible property, which can be touched or seen, intangible property derives its worth from the rights or privileges it grants, such as exclusive usage rights or financial benefits. These assets are often crucial for businesses and individuals, representing their ideas, inventions, brand identity, or reputation. Proper management and protection of intangible property are essential for safeguarding intellectual assets and maximising their value in various industries.
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This glossary post was last updated: 29th March, 2024.
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