Intangible Property Legal Meaning and Definition
Here is a simplified definition of the legal term Intangible Property.
Intangible Property (noun): A type of property that holds value, yet lacks a physical presence. It includes items like stocks, bonds, trademarks, patents, and bank accounts. Ownership of intangible property can be transferred from one individual or corporation to another. Unlike tangible property, you can't touch, see, or hold it, but it can still be owned and provide economic benefit.