Is a company: no
Is a proper noun: no
- intangible property
- legal intangibles
- competitive intangibles
- intangible personal property
Definition of Intangible Asset
- An asset such as a patent, permit, computer program, or claim that has no physical properties. It is difficult to assign values to these types of assets.
Related Terms and Acronyms
- Appraised Value — Definition,
- An educated opinion of how much a property is worth.
- Tangible Personal Property (TPP) — Acronym,
- Assets other than real estate that physically exist. Business equipment and vehicles are tangible personal property whereas stock certificates and franchises only represent value and are therefore intangible property.
- Market Value (MV) — Acronym, Important,
- Also known as "Fair Market Value." The estimated value of a property which a seller could expect to receive under normal conditions.
- Intangible Property — Definition,
- Property that does not have value itself, but represents something else. Stocks, bonds and franchises are examples of intangible property. Business furniture and equipment are examples of tangible personal property.
- Full Market Value — Definition,
- In reference to property taxes, usually refers to the tax rate applied to 100 percent of the property's value. Also full cash value.
- Asset — Definition,
- Anything of monetary value that is owned by a person. Assets include real property, personal property, and enforceable claims against others including bank accounts, stocks, mutual funds, and so on.
- Property Insurance — Definition,
- Insurance that provides coverage for damages to property from a number of perils.
- Fair Market Value (FMV) — Acronym, Very Important,
- The highest price that a buyer would pay for a property and the lowest price a seller is willing to accept.
- Liquid Assets — Definition,
- Cash and other property that can be converted quickly and easily into cash.
- Personal Property (PP) — Acronym,
- Property that is movable and not permanently attached to a dwelling or structure.
- Illiquid Asset — Definition,
- An asset that cannot be sold easily or in a timely manner for its full value.
- Valuation — Definition,
- The estimation of a property's price value through an appraisal.
- The process of finding the worth of an asset or business.