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Definition: an Intangible Asset is a non-physical asset. Also briefly called an 'intangible'.
In accounting, like fixed assets, intangibles are considered non-current assets, because they are not expected to be converted to cash, consumed, or sold within 12 months of the balance sheet date, or the company's normal operating cycle.
Common examples of intangible assets include brands, reputation, copyrights, patents, trademarks, trade secrets, know-how, goodwill.
In the knowledge economy, the importance of intangibles has grown tremendously.
The status of IAs in a firm can be tracked using Edvinsson's Skandia Navigator or Sveiby's Intangible Assets Monitor.