When conducting a risk assessment, goodwill or company reputation is considered what type of asset?

Goodwill or a company’s reputation is categorized as an intangible asset because it does not possess a physical form. Intangible assets represent non-physical resources that provide value to an organization, often contributing to its overall competitive advantage and market position. Goodwill refers to the positive perception of a company's brand, products, or services in the eyes of customers, investors, and the public, which can significantly influence economic performance and stakeholder trust.

Intangible assets, like goodwill and reputation, are critical in a risk assessment since they can be susceptible to various risks, such as negative publicity, operational failures, or shifts in consumer preferences. Their value, although not easily quantified in physical terms, is vital for the longevity and success of a business, emphasizing the importance of protecting and managing these assets effectively during risk assessments.