Nolo's Plain-English Law Dictionary

Intangible Property

Personal property that has no physical existence, such as stocks, bonds, bank notes, trade secrets, patents, copyrights, and trademarks. Such "untouchable" items may be represented by a certificate or license that fixes or approximates the value, but others (such as the goodwill or reputation of a business) are not easily valued or embodied in any instrument. Compare: tangible personal property