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intangible property |
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intangible property Something that is nonphysical, noncurrent, and exists only in connection with something else. Business goodwill is intangible property—it does not exist by itself; it cannot be seen,touched,smelled,or heard; and it cannot be sold separately from something else,because even the goodwill built up in a particular business name cannot be sold separately from the name. Intangible property is usually exempt from property taxes. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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