ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Intangible property is also known as incorporeal property. It is something that a person or business can own and transfer to another person or corporation but does not have any physical substance, such as brand name or intellectual property. It usually relates to legal creations like copyright, trademarks, and patents.

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: -That is why intellectual property is said to be intangible: it is a right to exclude any others from gaining economic benefit from your own intellectual creation. In this chapter, we examine how Congress, the courts, and the Patent and Trademark Office have worked to protect the major types of intellectual property.

Detailed explanation-4: -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-5: -Intangible Property is a property without a physical existence. Examples of intangible property include patents, patent applications, trade names, trademarks, service marks, copyrights, trade secrets.