Can intangibles also be insured ? - Letsdiskuss
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Anonymous

Posted 19 Feb, 2019 |

Can intangibles also be insured ?

Prajval Gupta

Student | Posted 20 Mar, 2019



Insuring intangible assets helps small business owners protect their intellectual property. These types of litigation cases are often expensive and drawn out, which can damage an organization financially. Fortunately, small business owners can avoid this risk by exploring their insurance options.

An intangible asset is property that is not physical in nature. Intellectual property is one of the main forms of intangible assets, including patents, trademarks, copyrights, proprietary software applications and even methodologies and processes.

Almost every organization has risks associated with intangible assets, which make up more than 80 percent of the average value of a business, according to Forbes. The proportion can be even higher for small businesses in startup mode.



Insuring intangible assets helps small business owners protect their intellectual property. These types of litigation cases are often expensive and drawn out, which can damage an organization financially. Fortunately, small business owners can avoid this risk by exploring their insurance options.

An intangible asset is property that is not physical in nature. Intellectual property is one of the main forms of intangible assets, including patents, trademarks, copyrights, proprietary software applications and even methodologies and processes.

Almost every organization has risks associated with intangible assets, which make up more than 80 percent of the average value of a business, according to Forbes. The proportion can be even higher for small businesses in startup mode.


Devang Verma

student | |Updated 11 Mar, 2019


     Assets can be bifurcated into two parts tangible and intangible assets. Tangible assets are ones having an physical existence (machinery, building), whereas intangible are doesn’t have physical existence(patents, professional experience etc.)

      A human being is an income generated assets. Ones incomes generating ability depends on ones skills (manual, professional) these are assets. The value of these assets can be measured by the income that is generated by the person concerned. The postulation of insurance has been extended beyond the coverage of tangible assets. Exporters run the risk of losses, if the importers default in payments or in collection of goods. They will also suffer heavily due to sudden changes in the currency exchange rates, economic policies or political disturbances in the other country. These are dynamic risks and are insured. Thus , insurance is extended to intangibles. For example, in some countries the voice of a singer is what bring bread in his house , or legs of a dancer so these are assets and they can be insured too!. These assets are which provide them with income.

     There are celebrities who have insured their body parts ! Heidi Klum has insured each of her legs for $2 million , famous James Bond star Daniel Craig has insured his body for $9.5 million