Intangible Property

Intangible Property means:
possessions that only represent value, such as stock certificates, bonds, promissory notes, and franchises, and lack intrinsic worth. See Section 197 Intangibles.

U.S. and other Developed Countries International Tax Meaning

Property which has no physical existence but which has a value based on a legal right of the owner, e.g. goodwill, patent, trade mark, copyright, software, inventions, designs, i.e. all manner of intellectual property. Intangible property is usually transferred by way of a licensing agreement, and payments for the intangible are made in the form of royalties.