Intangible assets

Okay kiddo, so you know what toys and candy are right? They are things that you can touch and feel with your hands. But not everything is like that. Some things are intangible, which means you can't touch them like you can with toys and candy.

Intangible assets are things that a company or person owns that have value, but you can't touch them. These things might be things like patents, trademarks, copyrights, or even things like brand recognition.

Think of it like this - imagine your best friend invented a new game. They can't hold the game itself, but they can own the "idea" or the "rights" to the game, which means that if someone else wants to use the game, they need to ask your friend for permission, and maybe even pay your friend some money.

So, intangible assets are kind of like owning ideas or rights to things that are valuable. Even though you can't touch them, they are still important for companies and people to have because they can help make them successful and earn money.