Definition of Intangible property:
Property (such as shares, trademarks, and patents) which has no physical existence; opposed to tangible property .
Bonds, notes, shares (stock), long-term contracts, and rights (such as lease agreements and copyrights) which represent present or future value but, being mere documents, have no intrinsic value of their own.
How to use Intangible property in a sentence?
- You may want to stock up on an intangible property so that you know you always have something to fall back on.
- While weve spent a few million this quarter to acquire Acme Patents, Incs intangible property , were predicting our realized profit will be double the acquisition costs by the end of the year.
- It was intangible property and did not have any independent value and that made me really confused, cause I never knew that before.
Meaning of Intangible property & Intangible property Definition