The examples and perspective in this article may not represent a worldwide view of the subject. (February 2010) |
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An intangible asset is an asset that lacks physical substance. Examples are patents, copyright, franchises, goodwill, trademarks, and trade names, as well as any form of digital asset such as software. This is in contrast to physical assets (machinery, buildings, etc.) and financial assets (government securities, etc.). Intangible assets are usually very difficult to value.They suffer from typical market failures of non-rivalry and non-excludability.[1] Today, a large part of the corporate economy (in terms of net present value) consists of intangible assets,[2] reflecting the growth of information technology and organizational capital.[3]
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