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Person Corporation Intellectual Property Trademarks Patents Real Property Fixtures Personal Property Tangible Property

Intangible property refers to ownership rights that have no physical form, such as copyrights, trademarks, and patents. It excludes tangible property like land, buildings, and physical objects. There are two types of intangible property: legal intangible property, which can be owned and transferred, and competitive intangible property, which is the source of legal intangible property but cannot be owned. Ownership of intangible property gives the owner legally enforceable rights over reproducing content, but the intangible rights are separate from any physical property carrying those rights. In English law, intangible property is divided into pure intangibles like intellectual property and documentary intangibles from electronic or physical documents,

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34 views1 page

Person Corporation Intellectual Property Trademarks Patents Real Property Fixtures Personal Property Tangible Property

Intangible property refers to ownership rights that have no physical form, such as copyrights, trademarks, and patents. It excludes tangible property like land, buildings, and physical objects. There are two types of intangible property: legal intangible property, which can be owned and transferred, and competitive intangible property, which is the source of legal intangible property but cannot be owned. Ownership of intangible property gives the owner legally enforceable rights over reproducing content, but the intangible rights are separate from any physical property carrying those rights. In English law, intangible property is divided into pure intangibles like intellectual property and documentary intangibles from electronic or physical documents,

Uploaded by

Dave Soriano
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Intangible property, also known as incorporeal property, describes something which

a person or corporation can have ownership of and can transfer ownership to another person or


corporation, but has no physical substance, for example brand identity or knowledge/intellectual
property. It generally refers to statutory creations such as copyright, trademarks, or patents. It
excludes tangible property like real property (land, buildings, and fixtures) and personal
property (ships, automobiles, tools, etc.). In some jurisdictions intangible property are referred to
as choses in action. Intangible property is used in distinction to tangible property. It is useful to note
that there are two forms of intangible property: legal intangible property (which is discussed here)
and competitive intangible property (which is the source from which legal intangible property is
created but cannot be owned, extinguished, or transferred). Competitive intangible property disobeys
the intellectual property test of voluntary extinguishment and therefore results in the sources that
create intellectual property (knowledge in its source form, collaboration, process-engagement, etc.)
escaping quantification.
Generally, ownership of intangible property gives the owner a set of legally enforceable rights over
reproduction of personal property containing certain content. [1] For example, a copyright owner can
control the reproduction of the work forming the copyright. However, the intangible property forms a
set of rights separate from the tangible property that carries the rights. For example, the owner of a
copyright can control the printing of books containing the content, but the book itself is personal
property which can be bought and sold without concern over the rights of the copyright holder.
In English law and other Commonwealth legal systems, intangible property is traditionally divided
in pure intangibles (such as debts, intellectual property rights and goodwill) and documentary
intangibles, which obtain their character through the medium of a document (such as a bill of
lading, promissory note or bill of exchange). The recent rise of electronic documents has blurred the
distinction between pure intangibles and documentary intangibles. However, new laws are making
pure intangibles further depleted and unused. California has strict laws when it comes to intangible
property.

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