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The Australian Accounting Standards Board included examples of intangible items in its definition of assets in Statement of Accounting Concepts number 4 (SAC 4), issued in 1995. [8] The statement did not provide a formal definition of an intangible asset, but did explain that tangibility was not an essential characteristic of an asset.
The Urgent Safeguarding List now numbers 35 elements. The Intergovernmental Committee also inscribed 25 elements on the Representative List of the Intangible Cultural Heritage of Humanity, which serves to raise awareness of intangible heritage and provide recognition to communities' traditions and know-how that reflect their cultural diversity.
UNESCO has also created other intangible culture programs, such as a list called Proclamation of Masterpieces of the Oral and Intangible Heritage of Humanity. This list began in 2001 with 19 items and a further 28 were listed in 2003 and another 43 in 2005. In part, the original list was seen as a way to correct the imbalance in the World ...
Intangible property is used in distinction to tangible property. It is useful to note that there are two forms of intangible property: legal intangible property (which is discussed here) and competitive intangible property (which is the source from which legal intangible property is created but cannot be owned, extinguished, or transferred).
An intangible good is a good that does not have a physical nature, as opposed to a physical good (an object). [1] Digital goods such as downloadable music , mobile apps or virtual goods used in virtual economies are proposed to be examples of intangible goods.
[5] [10] The Masterpieces of the Oral and Intangible Heritage of Humanity, is UNESCO's response to the call for humanity to widen its concept of cultural heritage by bringing in the intangible aspects. [10] The idea for the project came from people concerned about Morocco's Jeema' el Fna Square in Marrakesh. [5]
Cultural heritage has been described as the 'most distinguishing form of a culture's expression' and includes both tangible and intangible elements such as 'traditional dances, customs and ceremonies'. [10] Cultural property is the essential elements of a culture that allow it to determined and identified. [10]
A heritage asset is an item which has value because of its contribution to a nation's society, knowledge and/or culture. Such items are usually physical assets, but some countries also use the term in relation to intangible social and spiritual inheritance. [1] The term is found in several contexts: In a formal accounting sense [2]