The Preamble serves solely as an introduction, and does not assign powers to the federal government, nor does it provide specific limitations on government action. Due to the Preamble's limited nature, no court has ever used it as a decisive factor in case adjudication, except as regards frivolous litigation.
The definition of intangible is something with no physical presence that can't be touched, or is something that is vague and difficult to understand or value in concrete terms. 1  Intellectual property laws that protect a copyright are an example of laws that protect an intangible right.
Definition. Intangible assets have been argued to be one possible contributor to the disparity between company value as per their accounting records, and company value as per their market capitalization. Considering this argument, it is important to understand what an intangible asset truly is in the eyes of an accountant.