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Intangible property, also known as incorporeal property, is something that a person or corporation can have ownership of and can transfer ownership to another person or corporation, but has no physical substance, for example brand identity or knowledge/intellectual property.
Intangible assets are typically expensed according to their respective life expectancy. [2] [9] Intangible assets have either an identifiable or an indefinite useful life. Intangible assets with identifiable useful lives are amortized on a straight-line basis over their economic or legal life, [12] whichever is shorter. Examples of intangible ...
Intangibility refers to the lack of palpable or tactile property making it difficult to assess service quality. [1] [2] [3] According to Zeithaml et al. (1985, p. 33), “Because services are performances, rather than objects, they cannot be seen, felt, tasted, or touched in the same manner in which goods can be sensed.” [4] As a result, intangibility has historically been seen as the most ...
The Convention for the Safeguarding of the Intangible Cultural Heritage [4] defines the intangible cultural heritage as the practices, representations, expressions, as well as the knowledge and skills (including instruments, objects, artifacts, cultural spaces), that communities, groups, and, in some cases, individuals, recognize as part of their cultural heritage.
Cultural property includes the physical, or "tangible" cultural heritage, such as artworks. These are generally split into two groups of movable and immovable heritage. Immovable heritage includes buildings (which themselves may include installed art such as organs, stained glass windows, and frescos), large industrial installations, residential projects, or other historic places and monum
A person called "Amahage", representing a kami dressed in a straw coat and covered with a red or blue ogre mask visits each family distributing mochi; also includes a tori-oi bird chasing event with drums and singing; the straw coats are burned together with kadomatsu and shimenawa in an event known as Honte-yaki (Honte burning).
The distinction between tangible and intangible personal property is also significant in some of the jurisdictions which impose sales taxes. In Canada, for example, provincial and federal sales taxes were imposed primarily on sales of tangible personal property whereas sales of intangibles tended to be exempt.
The concept of taonga can also transcend into general New Zealand culture and non-Māori items; for example, the Ranfurly Shield is recognised as a taonga amongst the New Zealand rugby community. [2] [3] Traditionally taonga represent the tangible and intangible links between Māori people and their ancestors and land.