Intangible assets are identifiable non-monetary assets without physical substance, such as trade marks, customer contracts, patents and software (IAS 38). The main types of intangible assets fall into the five classes used in acquisition accounting (marketing-related, customer-related, artistic-related, contract-based and technology-based), plus the investments in skills, organisation, design and data that accounting standards seldom put on a balance sheet. This intangible assets list sets out 35 of them, with an example and the usual valuation method for each.
Last reviewed: October 2026. Reflects IFRS 3, IAS 38 and FRS 102 as amended by the FRC's Periodic Review 2024, which applies to accounting periods beginning on or after 1 January 2026.
| Class | Types in this list | On the balance sheet? | Typical valuation method |
|---|---|---|---|
| Marketing-related | Trade marks and trade names, service marks, trade dress, newspaper mastheads, domain names, non-compete agreements (1–6) | When acquired; internally generated brands and mastheads, never | Relief-from-royalty |
| Customer-related | Customer lists, customer relationships, order backlog, customer contracts, non-contractual relationships (7–11) | When acquired; internally generated customer lists, never | Multi-period excess earnings (MPEEM) |
| Artistic-related | Copyrights in literary, musical, visual and audiovisual works (12–15) | When acquired | Relief-from-royalty or income approach |
| Contract-based | Licences and royalty agreements, permits, franchises, broadcast rights, servicing and employment contracts, use rights (16–22) | When acquired | Income or market approach |
| Technology-based | Patents, trade secrets, software and databases, unpatented technology (23–26) | When acquired; development costs when the recognition tests are met | Relief-from-royalty, with-and-without or cost |
| Human capital | Workforce skills, training (27–28) | No: an assembled workforce is part of goodwill | Cost approach, as a contributory charge rather than a separate asset |
| Organisational capital | Management practices, culture, proprietary processes (29–31) | No, unless a process is protected as a trade secret or patent | Rarely valued separately |
| Design | Product design, UX/UI design systems, architectural design (32–34) | Only where legally protected, for example as a registered design | Cost or relief-from-royalty |
| Data | Proprietary datasets (35) | When acquired as a database; rarely when built in-house | Cost or income approach |
Most businesses own far more intangible assets than they realise. A complete inventory, using both the accounting classes and the wider strategic categories, is the foundation for accurate valuation, effective capital allocation and a defensible purchase price allocation.
Where the line falls between physical and non-physical assets, and how each is recognised, depreciated or amortised and valued, is set out in our tangible vs intangible assets comparison. For the definition itself, see the masterclass lesson what are intangible assets.
When a business is acquired, restructured or seeking investment, one question surfaces immediately: what intangible assets does this company actually own? The answer determines the purchase price allocation, balance sheet recognition, tax amortisation benefits and strategic investment decisions. Yet most companies cannot list their intangible assets beyond the obvious ones, patents and trade marks.
This guide catalogues 35 distinct types of intangible assets. Twenty-six are drawn from the illustrative examples that accompany IFRS 3 (ASC 805 carries equivalent guidance), grouped in their five classes; those examples are not exhaustive, and a few are split or combined here. The other 9 come from the Corrado-Hulten-Sichel (CHS) growth accounting framework, used in national accounts and for strategic decisions. The two frameworks serve different purposes and capture different assets.
Under IFRS 3 (Business Combinations), intangible assets acquired in a business combination are recognised separately from goodwill if they meet either the separability criterion or the contractual-legal criterion. The illustrative examples that accompany the standard group identifiable intangible assets into five classes.
UK companies reporting under FRS 102 recognise fewer intangibles separately in an acquisition. Section 18 requires an intangible to be both separable and to arise from contractual or legal rights, and permits a policy of also recognising those that meet only one of the two. Whatever is not recognised stays in goodwill, which FRS 102 amortises.
These assets are used primarily in the marketing or promotion of products and services.
| # | Asset Type | Example | Typical Valuation Method |
|---|---|---|---|
| 1 | Trademarks and trade names | Nike swoosh, Apple logo | Relief-from-Royalty |
| 2 | Service marks | Certification marks, collective marks | Relief-from-Royalty |
| 3 | Trade dress | Distinctive packaging, restaurant decor | Relief-from-Royalty |
| 4 | Newspaper mastheads | Financial Times, The Economist | Relief-from-Royalty |
| 5 | Internet domain names | business.com, insurance.co.uk | Market Approach |
| 6 | Non-competition agreements | Executive non-competes post-acquisition | With-and-Without |
When Unilever acquires a consumer brand, the trade mark and trade dress are often the most valuable identifiable intangible assets. A relief-from-royalty valuation values the brand as the present value of the after-tax royalties the owner avoids paying by owning it, over the brand's remaining useful life, or in perpetuity where that life is judged indefinite.
These assets arise from relationships with customers or clients.
| # | Asset Type | Example | Typical Valuation Method |
|---|---|---|---|
| 7 | Customer lists | Verified contact databases | Cost Approach |
| 8 | Customer relationships | Recurring B2B contracts | MPEEM |
| 9 | Order or production backlog | Unfulfilled signed orders | Income Approach |
| 10 | Customer contracts | Multi-year service agreements | MPEEM |
| 11 | Non-contractual customer relationships | Repeat purchase patterns | MPEEM |
Customer relationships are frequently the single most valuable identifiable intangible asset in service-sector acquisitions.
These assets arise from the right to benefits from artistic works.
| # | Asset Type | Example | Typical Valuation Method |
|---|---|---|---|
| 12 | Literary works and copyrights | Published books, articles | Relief-from-Royalty |
| 13 | Musical compositions | Song catalogues, scores | Income Approach |
| 14 | Pictures and photographs | Stock photo libraries | Income Approach |
| 15 | Video and audiovisual material | Film libraries, training content | Income Approach |
These assets represent the value of rights arising from contractual arrangements.
| # | Asset Type | Example | Typical Valuation Method |
|---|---|---|---|
| 16 | Licensing and royalty agreements | Software licences, franchise rights | Income Approach |
| 17 | Construction permits | Planning permissions, building permits | Market Approach |
| 18 | Franchise agreements | McDonald's franchise rights | MPEEM |
| 19 | Operating and broadcast rights | Spectrum licences, TV broadcast rights | Relief-from-Royalty |
| 20 | Servicing contracts | Mortgage servicing rights | Income Approach |
| 21 | Employment contracts | Key executive agreements | With-and-Without |
| 22 | Use rights | Water rights, air rights, mineral rights | Market Approach |
These assets arise from contractual or non-contractual rights to use patented or unpatented technology.
| # | Asset Type | Example | Typical Valuation Method |
|---|---|---|---|
| 23 | Patents and patent applications | Drug patents, technology patents | Relief-from-Royalty |
| 24 | Trade secrets and know-how | Manufacturing processes, formulas | With-and-Without |
| 25 | Software and databases | Proprietary platforms, data warehouses | Cost or Income Approach |
| 26 | Unpatented technology | Algorithms, proprietary methodologies | With-and-Without |
The IFRS 3 classes only capture assets that can be identified in a business combination. The CHS framework, developed by the economists Corrado, Hulten and Sichel, captures a broader set of intangible investments, including those that accounting standards typically expense rather than capitalise.
The CHS framework adds categories that IFRS 3 largely leaves inside goodwill: human capital (skills and training), organisational capital and, unless it is legally protected, design. These are often the most strategically important intangible assets a company owns, and the ones its balance sheet shows least.
| # | Asset Type | Category | Why It Matters |
|---|---|---|---|
| 27 | Workforce skills and expertise | Human Capital | Drives productivity and innovation |
| 28 | Training investment | Human Capital | Compounds over time as capability |
| 29 | Management practices | Organisational Capital | Determines execution quality |
| 30 | Organisational culture | Organisational Capital | Affects retention, innovation, speed |
| 31 | Proprietary processes | Organisational Capital | Source of operational efficiency |
| 32 | Product and service design | Design | Differentiates offering in market |
| 33 | UX/UI design systems | Design | Drives engagement and retention |
| 34 | Architectural design | Design | Physical environment as brand asset |
| 35 | Data assets | Computerised information | Training data, analytics and proprietary datasets; built in-house, they rarely reach the balance sheet (acquired databases are row 25) |
The right classification depends on your context.
Most companies need both views: the IFRS 3 classes for transactions and reporting, and the CHS categories for the investments that drive growth but stay off the balance sheet, particularly human capital and organisational capital.
If you are preparing a business for sale, exit readiness with Opagio shows how Opagio Intangibles identifies, evidences and values these assets before a buyer's due diligence does. For a free first read of where your intangible value sits, take the Opagio 12 Quick Assessment.
| Group | Recognised Under IFRS 3? | Assets Captured |
|---|---|---|
| Marketing-Related | Yes, when acquired | Trademarks, trade names, domain names |
| Customer-Related | Yes, when acquired | Customer lists, relationships, contracts |
| Artistic-Related | Yes, when acquired | Copyrights, creative works |
| Contract-Based | Yes, when acquired | Licences, permits, franchise rights |
| Technology-Based | Yes, when acquired | Patents, software, databases |
| Human Capital | No, absorbed into goodwill | Workforce skills, training |
| Organisational Capital | No, absorbed into goodwill | Processes, culture, management |
| Design | Only where separately protected, such as a registered design | Product design, UX, architecture |
| Data | Yes, when acquired as a database | Proprietary datasets |
This list draws 26 asset types from the IFRS 3 illustrative examples, across five classes. The CHS framework adds 9 more, particularly human capital and organisational capital, that accounting standards leave off the balance sheet but that frequently drive long-term business value.
Each type of intangible asset has a preferred valuation approach. Five methods cover most cases.
| Method | How it works | Best suited to |
|---|---|---|
| Relief-from-royalty (RFR) | Present value of the royalties the owner avoids paying | Brands, patents and technology with observable licensing rates |
| Multi-period excess earnings (MPEEM) | Earnings from the asset after charges for the return on every other contributing asset | Customer relationships and core technology |
| With-and-without | Difference in business value with and without the asset | Non-compete agreements and assets without market comparables |
| Cost approach | Cost to recreate or replace the asset | Software, databases and the assembled workforce |
| Market approach | Prices in comparable transactions | Domain names, licences and assets with active markets |
For a deeper treatment of each method, see the guide to intangible asset valuation methods or the Valuation Methods programme in the Opagio Academy.
Practitioners regularly make these errors when identifying and classifying intangible assets:
Underidentifying intangible assets in a PPA is not conservative; it is incorrect. It overstates goodwill, understates the tax amortisation benefit in fair values (and any tax relief in an asset purchase) and creates future impairment risk. Regulators and auditors increasingly scrutinise this.
Whether you are preparing for a sale, building a case for investment or simply trying to understand where your company's value comes from, a complete intangible asset inventory is the essential first step.
Related reading: Tangible vs intangible assets · Goodwill vs intangible assets: an investor's guide · Purchase price allocation: the complete PPA guide
Ivan Gowan is the Founder and CEO of Opagio. With 25 years of experience in financial technology — including senior roles at IG Group — he leads Opagio's mission to make intangible assets visible, measurable, and actionable. Meet the team.
Estimate the value of your intangible assets using industry-standard methods like Relief from Royalty, MPEEM, and With & Without.
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