Intangible Personal Property

Intangible personal property refers to non-physical assets that have value but cannot be touched or physically measured. Examples include intellectual property like patents and trademarks, financial assets like stocks and bonds, and rights such as copyrights. Unlike tangible property, which includes items like furniture or cars, intangible assets derive their value from legal rights or ownership claims. These assets play an important role in businesses and individual wealth, as they can generate income and can be bought, sold, or licensed.