The assets you cannot touch or see but that have value. Intangible assets include franchise rights, goodwill, noncompete agreements and patents, among others. One of the line entries on your ...

The process is similar to how tangible assets are depreciated. Typically, businesses use the straight line method to allocate the cost of an intangible asset evenly over its expected useful life.

Read to find out more about amortization, an important accounting method that accounts for the reduction in value of intangible assets over time.