Selling Your Small Business
The WealthAbility Show with Tom Wheelwright, CPA
Tangible vs. Intangible Assets in Business
The distinction between tangible and intangible assets lies in their touchability - tangible assets are physical, whereas intangible assets are non-physical and can include brands, algorithms, software, processes, and procedures. Intangible assets must enhance the company's value, like how Coca-Cola's brand recognition adds value to the company. It is crucial for intangible assets to generate value to justify their importance. While intangible assets are more vital for larger companies, they remain a challenge for smaller businesses in convincing buyers about their value, making them significant in corporate valuation strategies.
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