All businesses have intangible assets that are necessary for their business. The intangible fixed asset is a long-term asset that does not have a physical existence serving the operation of the business over several years. Intangible assets will allow the company to produce products and services. For example, here is a list of assets that are frequently found among intangible assets:
  • Patent
  • Software
  • Website or Internet
  • Industrial design
  • Copyright
  • Trademarks
  • Trade names
  • Customer list
  • Franchises
  • Government fees and permits
  • Admission fees
  • Goodwill
The characteristics of intangible assets are as follows: They have no physical existence, but they are not embodied in the product; They have a relatively long lifespan; They are acquired for the operation of the business and not to be resold.
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