Intangible assets are assets that do not physically exist but still carry economic value to the owner. Examples of intangible assets include intellectual property, patents, trademarks, copyrights, and a company brand identity.
• Intangible assets can be bought or sold. For example, a software designer can sell or license their creation to a company for use in a game or application.
• Intangible assets can increase or decrease in value, just as tangible assets can. The brand identity for retailer JCPenney is worth far less in 2020 than it was in 2005, while the brand identity for Amazon is worth far more in 2020 than it was 15 years earlier.