Intangible assets are nonphysical assets used in operations that give owners' long-term rights or competitive advantages.

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Intangible assets are assets that lack physical substance but have value to a company, such as intellectual property, brand recognition, or customer relationships. They can provide competitive advantages in the long-term and are considered long-term assets on a company's balance sheet.

Intangible Assets Are Nonphysical Assets Used in Operations That Give