Legal Definitions - tangible

In legal terms, tangible describes something that has a physical form and can be touched, seen, or otherwise perceived by the senses. It refers to assets or property that physically exist, as opposed to intangible assets like intellectual property or goodwill, which do not have a physical presence.

• Example: A vintage car collection owned by an enthusiast.

  Explanation: Each car in the collection is a tangible asset because it is a physical object with a distinct form, weight, and dimensions. It can be seen, touched, driven, and stored, making it a physical piece of property that can be bought, sold, or insured.

• Example: The machinery and equipment used in a manufacturing plant.

  Explanation: The industrial machines, conveyor belts, and tools within the plant are all tangible assets. They are physical structures that occupy space, can be operated, maintained, and moved, representing a significant portion of the company's physical property.

• Example: A rare first edition book displayed in a museum exhibit.

  Explanation: The book is a tangible item. It is a physical object made of paper and ink, bound together, that can be held, turned, and viewed. Its physical existence allows it to be preserved, exhibited, and valued as a piece of cultural heritage.