INCORPOREAL CHATTEL Meaning and
Definition
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An incorporeal chattel refers to an intangible asset or property that lacks physical substance, such as a trademark, patent, copyright, or intellectual property. Unlike corporeal chattels – which are tangible and can be physically possessed or held, such as furniture, vehicles, or machinery – incorporeal chattels exist solely in an abstract or conceptual form. These assets typically represent legal rights, privileges, or interests rather than physical objects.
Incorporeal chattels are capable of being recognized and protected by law, as they hold economic value and are considered proprietary in nature. They can be bought, sold, licensed, assigned, or transferred amongst individuals or entities. For instance, a trademark allows the owner exclusive rights to utilize a distinctive symbol or name in commerce, whereas a copyright bestows upon the creator the exclusive right to reproduce, distribute, or display an original work of authorship.
Although incorporeal chattels lack material existence, they often play a crucial role in business transactions and can be highly valuable. Despite being intangible, they are afforded legal protection under various intellectual property laws. This recognition ensures that the rights and interests associated with incorporeal chattels are upheld and respected, fostering innovation, creativity, and economic growth in society.
Common Misspellings for INCORPOREAL CHATTEL
- uncorporeal chattel
- jncorporeal chattel
- kncorporeal chattel
- oncorporeal chattel
- 9ncorporeal chattel
- 8ncorporeal chattel
- ibcorporeal chattel
- imcorporeal chattel
- ijcorporeal chattel
- ihcorporeal chattel
- inxorporeal chattel
- invorporeal chattel
- inforporeal chattel
- indorporeal chattel
- incirporeal chattel
- inckrporeal chattel
- inclrporeal chattel
- incprporeal chattel
- inc0rporeal chattel
- inc9rporeal chattel
Etymology of INCORPOREAL CHATTEL
The term "incorporeal" derives from the Latin word "incorporealis", which is a compound of "in" (not) and "corporeus" (corporeal or physical). It essentially means "without a physical body" or "lacking material form".
On the other hand, "chattel" comes from the Old English word "ceattel", which means "movable property" or "possession". It is related to the Old High German word "kazal", meaning "movable property" or "cattle". Over time, the term "chattel" expanded to include all personal property that is not real estate.
When combined, "incorporeal chattel" refers to property or possessions that lack a physical or tangible form, such as intellectual property (e.g., copyrights, patents, trademarks), contractual rights, or other intangible assets.
