Intangible Asset

It's the M.C. Hammer of assets: "Can't touch this."

Tangible assets are things like a tractor smelting factory, 4 million pounds of raw plastic, and the robotomater coffee machine that serves 400 cups an hour. Tangible. Like a failed American Idol's elimination round, you can touch this.

So what can't you touch...or "tange"? Patents. Brand equity. Wireless spectrum licenses. Rights to drill in oceans. Stuff like that.

See: Tangible Assets.