What are intangible assets typically comprised of?

Intangible assets are non-physical assets that represent value to a company, and they typically include items such as patents, trademarks, copyrights, and goodwill. Patents provide exclusive rights to inventions, which can significantly enhance a company's market position and revenue potential. Goodwill, on the other hand, reflects the value of a company's reputation and customer relationships, which can lead to ongoing profitability beyond tangible assets. These assets, while not having a physical presence, play a crucial role in the overall value of a business by contributing to competitive advantages and market strength.

The other choices involve tangible assets or categories of assets that do not fit the definition of intangible assets. Equipment and machinery, for instance, are physical items used in business operations, while real estate properties are also classified as tangible assets. Inventory and supplies represent items that a company has on hand for production or sale, further emphasizing the distinction between tangible and intangible assets.