INTANGIBLE PROPERTY Meaning and
Definition
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Intangible property refers to assets or belongings that lack a physical form and are intangible in nature. These assets cannot be touched or seen but still hold value and can be legally owned and transferred. This form of property is distinguished from tangible property, which includes physical objects such as land, buildings, vehicles, and equipment.
Examples of intangible property include intellectual property, such as copyrights, trademarks, patents, and trade secrets. These rights of ownership pertain to creations of the mind, including music, literature, inventions, brand identities, logos, and software. Intangible property also encompasses financial assets like stocks, bonds, and securities, representing ownership or debts owed by an entity or organization.
Intangible property has value based on its ability to generate income or provide exclusive rights. For instance, copyright holders can earn royalties from their creative works, while patent owners can profit from licensing their inventions. Trademark owners have the right to protect their brand identity from unauthorized use. These intangible assets can be bought, sold, transferred, licensed, or used as collateral for loans.
Due to its intangible nature, the valuation of intangible property can be complex and subjective, often requiring appraisers, legal experts, or financial professionals. Protecting and enforcing ownership rights for intangible property often involves legal strategies, contracts, and registration processes specific to each type of asset.
Common Misspellings for INTANGIBLE PROPERTY
- untangible property
- jntangible property
- kntangible property
- ontangible property
- 9ntangible property
- 8ntangible property
- ibtangible property
- imtangible property
- ijtangible property
- ihtangible property
- inrangible property
- infangible property
- ingangible property
- inyangible property
- in6angible property
- in5angible property
- intzngible property
- intsngible property
- intwngible property
- intqngible property
Etymology of INTANGIBLE PROPERTY
The etymology of the word "intangible property" can be broken down as follows:
1. Intangible: This word originated from the Latin word "intangibilis", which is a combination of "in-" (meaning "not" or "without") and "tangibilis" (meaning "touchable" or "tangible"). The word "tangibilis" is derived from the verb "tangere", meaning "to touch". So, "intangible" essentially means "not touchable" or "not tangible".
2. Property: The word "property" comes from the Old French word "properte", which means "ownership" or "possession". It can be traced back to the Latin word "proprietas", derived from "proprius", meaning "one's own" or "belonging to oneself".
