Intangible asset - Indian Laws - General

In Black's Law Dictionary (11th Edition, 2019), 'intangible asset' is defined as any non-physical asset or resource that can be amortized or converted to cash, such as patents, good will and computer programs or a right to something such as services paid for in advance. (refer page 1168 of CC of Respondent No. 1 Vol. VI). As per Cambridge Dictionary - something that does not exist in a physical way, but which has value for a business, such as a brand name.