Tangible Definition
A tangible good is a physical object that can be touched and felt. It is a physical product that can be used for its intended purpose. Tangible goods are also known as ‘real’ or ‘physical’ goods. They contrast with intangible goods, which are non-physical products such as services, ideas, or intangibles.
Tangible assets are important because they represent a company’s ability to generate revenue and profit. A company’s tangible assets include inventory, equipment, land, buildings, and vehicles. Intangible assets, such as patents and copyrights, also contribute to a company’s overall value, but they are more difficult to value than tangible assets.
The term ‘tangible property’ refers to personal property that can be touched or felt. This includes both real property (land and buildings) and personal property (cars, furniture, jewelry, etc.). The term ‘intangible property’ refers to non-physical things like stocks, bonds, copyrights, and trademarks.
