Material and Intangible Goods

Economic goods can be broadly classified into material and intangible categories.

Material Goods

Material goods are tangible items with a physical presence. Examples include food, clothing, cars, and similar items. Unlike intangible goods, which lack a physical form, material goods can be touched, transported, and measured. They are also known as corporeal or tangible goods. This category includes all physical objects that can be perceived by human senses or detected with measuring instruments.

Intangible Goods

Intangible goods are assets that have no physical substance. Services, for instance, fall entirely within this category. Examples of intangible goods include legal advice, copyrights, patents, inventions, financial services, and more. Despite their lack of physical form, intangible goods hold significant legal and economic value. These incorporeal assets play a crucial role in wealth generation. For example, intellectual or artistic creations are protected by law, with copyright granting the creator exclusive rights to monetize their work. The recognition of intangible goods is especially prevalent in industrial, scientific, and cultural fields, safeguarding both intellectual property and artistic works. This makes their application scope remarkably broad. Intangible goods also include services related to commercial and financial intermediation.