What's the Difference between Tangible and Intangible Assets?

This might sound like an obvious question, but in reality, not all business owners know the difference and sometimes the Intangible ones can be more valuable to your business than the tangible.

An Intangible asset in short is a non-physical asset such as Patents, Copyrights etc.

You can't physically hold this item but it still has great value to the business.

A Tangible asset, is sometimes referred to as a fixed asset and is an item that is physical such as Cash, Equipment etc.