(sÄt) v. set, setÂ·ting, sets. v.tr. 1. To put in a specified position or arrangement; place: set a book on a table; set the photo next to the flowers. 2. a. To put into a specified state: set the prisoner at liberty; set the house ablaze; set the machine in motion.
Intangible asset. An intangible asset is an asset that lacks physical substance (unlike physical assets such as machinery and buildings) and usually is very hard to evaluate. It includes patents, copyrights, franchises, goodwill, trademarks, trade names, the general interpretation also includes software and other intangible computer based assets.
Key definitions. Intangible asset: an identifiable non-monetary asset without physical substance. An asset is a resource that is controlled by the entity as a result of past events (for example, purchase or self-creation) and from which future economic benefits (inflows of cash or other assets) are expected.ey definitions. Intangible asset: an identifiable non-monetary asset without physical substance. An asset is a resource that is controlled by the entity as a result of past events (for example, purchase or self-creation) and from which future economic benefits (inflows of cash or other assets) are expected.