Question: What Is An Intangible Item?

An intangible good is a good that does not have a physical nature, as opposed to a physical good (an object).

Digital goods such as downloadable music, mobile apps or virtual goods used in virtual economies are all examples of intangible goods.

What is an example of an intangible item?

For example, goodwill, patents, trademarks and copyrights are intangible assets. None of these assets can be physically touched, but they can still have value. The line item for intangible assets is found on the balance sheet.

What are tangible and intangible things?

Tangible assets are physical; they include cash, inventory, vehicles, equipment, buildings and investments. Intangible assets do not exist in physical form and include things like accounts receivable, pre-paid expenses, and patents and goodwill.

Is food an intangible item?

Notes. Some goods are partially tangible and partially intangible. For example, a restaurant includes a physical product in the form of food and intangible value such as decor, service and environment. It is common to consider cheap restaurants tangible and expensive restaurants as intangible experiences.