Intangible assets definition including break down of areas in the definition. Analyzing the definition of key term often provides more insight about concepts. Intangible assets can be defined as: Long-term assets (resources) used to produce or sell products or services; usually lack physical form and have uncertain benefits. Intangible assets are assets and they are used to help generate revenue for the business but unlick many assets intangible assets are often not tangible meaning we cannot touch intangible assets. The fact that intangible assets are not tangible and cannot be touched does not mean that they do not have value to the business. Intangible assets can be very valuable but there are often problem valuing intangible assets. Examples of intangible assets include trademarks, patents, copyrights, brand names, and goodwill.