BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Intellectual property-that is, patents, trademarks, copyrights, etc.-is merely one type of intangible asset. The only substantive distinction between IP and intangible assets is that IP is applied for and issued by the U.S. Patent and Trademark Office (USPTO), whereas intangible assets are not.

Detailed explanation-2: -Intangible assets include intellectual property (IP) like copyright, patents and trademarks, and other non-IP assets like trade secrets and goodwill.

Detailed explanation-3: -Intangible property, also known as incorporeal property, is something that 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.

Detailed explanation-4: -Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.

Detailed explanation-5: -Tangible personal property includes equipment, supplies, and any other property (including information technology systems) other than that is defined as an intangible property. It does not include copyrights, patents, and other intellectual property that is generated or developed (rather than acquired) under an award.