Which of the following is considered an intangible asset?

Patents and licenses are classified as intangible assets because they represent legal rights or protections that do not have a physical presence but provide value to the business. They can generate revenue by allowing a company to produce goods or services during their protection period, which ultimately contributes to profitability. This categorized intangible aspect contrasts with the other options presented.

Office buildings are tangible assets, meaning they are physical properties that can be seen and touched. Raw materials and finished goods are also tangible assets because they represent physical items that a business uses in production or completes for sale. Unlike tangible assets, intangible assets are non-physical and often derive their value from the rights or privileges they confer upon ownership, making patents and licenses distinctly valuable in the business context for competitive advantage and innovation.