Is patent an intangible asset?
Yes.

Explanation:

Definition of Intangible Asset:
An intangible asset is a non-physical asset that has a monetary value but cannot be seen, touched, or physically measured.

Definition of Patent:
A patent is a form of intellectual property that gives the owner exclusive rights to their invention for a certain period of time.

Characteristics of Intangible Assets:
- Lack of physical substance
- Long-term in nature
- Can be legally protected

Characteristics of Patents:
- Intangible in nature
- Exclusive rights to the inventor
- Can be bought, sold, licensed, or used as collateral

Why Patents are considered Intangible Assets:
- Patents meet the criteria of being non-physical assets with a monetary value.
- They are long-term in nature and can be legally protected.
- Patents can be bought, sold, or licensed, similar to other intangible assets like trademarks and copyrights.
In conclusion, patents are indeed considered intangible assets due to their non-physical nature, exclusive rights, and ability to hold monetary value.