In business, tangible assets can be included in both non-current assets (such as machinery or buildings) and current assets (such as inventory). A tangible asset must provide reasonably estimable future economic benefits and must be the result of a previous transaction, such as a purchase. However, intangible assets are critical to achieving the bottom line.
If a company’s intangible resources are managed correctly, it can be said that it will achieve a superior competitive advantage over other companies. To be able to manage these values it is important to know them, they are characterized by:
- They lack a physical support. In other words, they are immaterial.
- They cannot be measured or quantified.
- They store information and knowledge that is very useful for the success of the company.
In this sense, among the different types of intangible resources we can differentiate: market assets, which include brands, the company name, consumer loyalty, distribution channels, marketing strategies, among others; Intellectual property assets, i.e. patents, copyrights, designs and/or trade secrets; Human assets, such as religion, education and labor relations. Infrastructure assets such as the company’s corporate culture, financial relationships, business management philosophy, network systems, etc.
In short, and as can be seen, intangible resources are an essential part of any company, since thanks to them a brand value is achieved that better positions the company within its market. For this reason, investment in intangibles such as training, patents and strategies allow a greater competitive advantage capable of generating a greater number of sales.
Lic. Génesis Moyeda Salazar.
Gloria Ponce de León & Hernández