(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.
Definition of tangible. 1  1a : capable of being perceived especially by the sense of touch : palpableb : substantially real : material. 2  2 : capable of being precisely identified or realized by the mind her grief was tangible. 3  3 : capable of being appraised at an actual or approximate value tangible assets.