In law, the ability to be apprehended by the human senses. Many
assets have tangibility, including but not limited to,
cash, commodities,
real estate, and
personal property. Some more abstract things also have tangibility, at least in certain circumstances. For example,
accounts receivable is a tangible asset for
accounting purposes. Tangibility explicitly does not include
patents,
brands, or intellectual property. An asset must have tangibility in order to be used as
collateral on a loan. For example, one may not use a
patent as collateral, but may use his/her house. See also:
Intangibility,
Tangible net worth.