Which of the following is classified as an intangible asset?

Intangible assets are non-physical assets that provide value to a company, often in the form of rights or privileges. The correct answer highlights a privilege that one company grants to another, which is a clear example of an intangible asset. This could include rights of use, franchise agreements, trademarks, or licenses that do not have a physical presence but are nonetheless valuable for the business operations or competitive advantage they provide.

In contrast, real estate, special tooling, and movable equipment all fall under the category of tangible assets because they have a physical form. Real estate refers to land and any improvements made on it, special tooling signifies physical tools used in manufacturing, and movable equipment includes machinery, vehicles, or other physical items that can be moved and utilized in operations. These assets can be seen and touched, which fundamentally distinguishes them from intangible assets.