Intangible asset
Intangible assets are defined as assets that are not physical in nature.
The discussion of what intangible assets are is often preceded by a definition of what they are not, i.e. real property, goods, money, negotiable securities, negotiable instruments, letters of credit, and documents of title are not intangible assets. Common examples of intangible assets include goodwill, customer-related intangible assets (i.e. customer lists, production backlogs, etc), patents, trademarks or copyrights (plus the capitalized costs to defend them if necessary).
Intangible assets are amoritized over the shorter of either their economic life or legal life.
The Uniform Commercial Code (Section 9-104) defines "general intangibles" as "any personal property...other than accounts, chattel paper, commercial tort claims, deposit accounts, documents, goods, instruments, investment property, letter of credit rights, letters of credit, money, and oil, gas, or other minerals before extraction. The term includes payment intangibles and software."