What term describes property that has value but cannot be seen or touched?

The term that describes property with value that cannot be seen or touched is intangible property. Intangible property includes assets such as intellectual property (like patents, copyrights, and trademarks), brand names, and goodwill, which represent a value due to their potential economic benefit but do not have a physical form. Understanding intangible property is crucial in fields like business and taxation, as it often contributes significantly to a company's overall value and can impact financial statements and tax regulations.

In contrast, tangible property refers to physical items that can be seen and touched, such as real estate, machinery, and inventory. Physical property is synonymous with tangible property, further emphasizing the contrast with intangible assets. Marketable property typically refers to assets that can be easily sold or traded in the marketplace, but this term doesn't specifically describe the observable nature of the property, as it can encompass both tangible and intangible assets.