Net present value in the context of "Rate of return"

An intangible asset is an asset that lacks physical substance. Examples are patents, copyright, franchises, goodwill, trademarks, and trade names, reputation, R&D, know-how, organizational capital as well as any form of digital asset such as software and data. This is in contrast to physical assets (machinery, buildings, etc.) and financial assets (government securities, etc.).

Intangible assets are usually very difficult to value. Today, a large part of the corporate economy (in terms of net present value) consists of intangible assets, reflecting the growth of information technology (IT) and organizational capital. Specifically, each dollar of IT has been found to be associated with and increase in firm market valuation of over $10, compared with an increase of just over $1 per dollar of investment in other tangible assets. Furthermore, firms that both make organizational capital investments and have a large computer capital stock have disproportionately higher market valuations.

A chemical reactor is an enclosed volume in which a chemical reaction takes place. In chemical engineering, it is generally understood to be a process vessel used to carry out a chemical reaction, which is one of the classic unit operations in chemical process analysis. The design of a chemical reactor deals with multiple aspects of chemical engineering. Chemical engineers design reactors to maximize net present value for the given reaction. Designers ensure that the reaction proceeds with the highest efficiency towards the desired output product, producing the highest yield of product while requiring the least amount of money to purchase and operate. Normal operating expenses include energy input, energy removal, raw material costs, labor, etc. Energy changes can come in the form of heating or cooling, pumping to increase pressure, frictional pressure loss or agitation.

Chemical reaction engineering is the branch of chemical engineering which deals with chemical reactors and their design, especially by application of chemical kinetics to industrial systems.