What is an example of intangible property?

Intangible property refers to assets that do not have a physical presence but still have value. Patent rights are a prime example of intangible property because they grant exclusive rights to an inventor for a certain period, allowing them to control the use and implementation of their invention.

Unlike the other choices listed, which are tangible assets with physical forms—such as buildings, cars, and furniture—patent rights exist as legal rights that provide value but cannot be touched or physically interacted with. This distinction between tangible and intangible assets is crucial in understanding property types in various contexts, such as appraisals, legal matters, and financial assessments.