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An intangible asset, simply put, is something of value that is without physical substance. To assess the value of an intangible asset as an intellectual property, the first step is to register it with the relevant authority to verify statutory law protection. It's critical to remember that the protection of intellectual property rights must be a key aspect of intangible asset management. When a company protects its property rights by registering, licensing & litigating them, these intellectual property rights become more valuable.