(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.
An intangible asset is an idea, concept or legal right that has some monetary value, but is not physical in nature. In essence, an intangible asset is a piece of valuable property that you cannot touch, see, hear, smell or taste.It has real value and existence, but it has no physical embodiment.Intangible assets include intellectual property, licenses and approvals, and business good will.n essence, an intangible asset is a piece of valuable property that you cannot touch, see, hear, smell or taste. It has real value and existence, but it has no physical embodiment. Intangible assets include intellectual property, licenses and approvals, and business good will.