intangible property
Property without a physical existance.
Some intangible property might have a paper embodiment, (such as stocks, bonds, or certificates) but other intangible property does not (goodwill, intellectual property, reputation). Due to this characteristic, intangible property may be difficult to value, but is still a form of property.
Definition from Nolo’s Plain-English Law Dictionary
Personal property that has no physical existence, such as stocks, bonds, bank notes, trade secrets, patents, copyrights, and trademarks. Such "untouchable" items may be represented by a certificate or license that fixes or approximates the value, but others (such as the goodwill or reputation of a business) are not easily valued or embodied in any instrument. Compare: tangible personal property
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:18 pm
