What are "intangible assets"?

Intangible assets refer to resources that do not have a physical presence but still hold significant value for a business. These assets encompass rights and privileges that can enhance a company's market position, such as patents, trademarks, copyrights, and goodwill. They are critical for businesses as they can provide competitive advantages and are often key components of a company's overall worth.

While the other options touch on various types of assets, they do not accurately describe intangible assets. Physical assets with measurable value, tangible goods, and immediate cash reserves all represent tangible resources that can be quantified and physically accessed, whereas intangible assets are recognized for their value derived from legal rights or recognition rather than a physical embodiment. This distinction emphasizes the importance of intangible assets in today's economy, where innovation and brand recognition can be pivotal for success.