Tangible property

Tangible property in law is, literally, anything which can be touched, and includes both real property and personal property (or moveable property), and stands in distinction to intangible property.

In English law and some Commonwealth legal systems, items of tangible property are referred to as choses in possession (or a chose in possession in the singular). However, some property, despite being physical in nature, is classified in many legal systems as intangible property rather than tangible property because the rights associated with the physical item are of far greater significance than the physical properties. Principally, these are documentary intangibles. For example, a promissory note is a piece of paper that can be touched, but the real significance is not the physical paper, but the legal rights which the paper confers, and hence the promissory note is defined by the legal debt rather than the physical attributes.[1]

A unique category of property is money, which in some legal systems is treated as tangible property and in others as intangible property. Whilst most countries legal tender is expressed in the form of intangible property ("The Treasury of Country X hereby promises to pay to the bearer on demand...."), in practice banknotes are now rarely ever redeemed in any country, which has led to banknotes and coins being classified as tangible property in most modern legal systems.


  1. ^ Hon. Giles, J. (May 1, 2008). "R&L ZOOK, INC., d/b/a, t/a, aka UNITED CHECK CASHING COMPANY, Plaintiff, v. PACIFIC INDEMNITY COMPANY, Defendant" (PDF). paed.uscourts.gov. Philadelphia, PA: United States District Court Eastern District of Pennsylvania. p. 6. Archived (PDF) from the original on 2008-10-05. Retrieved 2011-07-11.

An appraiser (from Latin appretiare, "to value"), is one who determines the fair market value of property, real or personal. In England the business of an appraiser is usually combined with that of an auctioneer, while the word itself has a similar meaning to that of "valuer."

Bell IP Holdings

Bell IP Holdings is a joint venture of AT&T, Verizon, CenturyLink, and Cincinnati Bell (or their respective subsidiaries) which owns the rights to the former Bell System logos and trademarks outside of the U.S. and Canada. It also administers a variety of related common assets such as the domain name bell.com.

In the United States, the aforementioned operating companies each own concurrent rights to the Bell trademarks. Bell Canada retained sole rights to the marks in that country after its spinoff from AT&T in 1975.

Bell IP Holdings was created as result of the sale of Bell Communications Research, Incorporated (Bellcore) to Science Applications International Corporation (SAIC) in 1996.

As a part of the court-ordered restructure of AT&T in 1984, the Bell Logo and Trademarks had been granted to Bellcore, to own and manage on behalf of the seven Regional Bell Operating Systems (RBOCs) and two of the smaller former Bell telecoms, centered in Cincinnati, Ohio and Hartford Connecticut.

The RBOC's determined that the sale of Bellcore to SAIC should be limited to the software and tangible property owned by the consortium, but that the ownership and related value of the Bell name and logo needed to remain with the sellers. Bell IP Holdings was created for the purpose of sustaining that ownership, and thereby preserving the Intellectual Property (IP) value for the Owner Companies (OCs) over time, despite the inevitability of subsequent sales, reallocations and reassignments of specific rights.

Capital good

A capital good (also called complex products and systems or (CoPS)) is a durable good that is used in the production of goods or services. Capital goods are one of the three types of producer goods, the other two being land and labour. The three are also known collectively as "primary factors of production"

This classification originated during the classical economics period and has remained the dominant method for classification.

Many definitions and descriptions of capital goods production have been proposed in the literature. Capital goods are generally considered one-of-a-kind, capital intensive products that consist of many components. They are often used as manufacturing systems or services themselves.

Examples include automated storage and retrieval systems, automatic test equipment, battleships, baggage handling systems, data centers, oil rigs, roller coaster equipment, semiconductor fabrication plants, and wind turbines. Their production is often organized in projects, with several parties cooperating in networks (Hicks et al. 2000; Hicks and McGovern 2009; Hobday 1998).

A capital good lifecycle typically consists of tendering, engineering and procurement, manufacturing, commissioning, maintenance and (sometimes) decommissioning . In terms of economics, capital goods are tangible property. A society acquires capital goods by saving wealth that can be invested in the means of production. People use them to produce other goods or services within a certain period. Machinery, tools, buildings, computers, or other kinds of equipment that are involved in production of other things for sale are capital goods. The owners of the capital good can be individuals, households, corporations or governments. Any material used to produce capital goods is also considered a capital good.


Chazakah (Hebrew חזקה, khazakah, legal acquisition by right of possession) is a Midrashic and Talmudic concept, the presumption of ownership of a personal status (such as being of kohen or levite status) or of land, or tangible property.

Chief security officer

A chief security officer (CSO) is an organization's most senior executive accountable for the development and oversight of policies and programs intended for the mitigation and/or reduction of compliance, operational, strategic, financial and reputational security risk strategies relating to the protection of people, intellectual assets and tangible property.

The accountabilities of the CSO include, but are not necessarily limited to:

In cooperation with the organization’s executive leadership team(s), directs the development of an effective strategy to assess and mitigate risk (foreign and domestic), manage crises and incidents, maintain continuity of operations, and safeguard the organization.

Directing staff in identifying, developing, implementing, and maintaining security processes, practices, and policies throughout the organization to reduce risks, respond to incidents, and limit exposure and liability in all areas of information, financial, physical, personal, and reputational risk.

Ensures the organization’s compliance with the local, national, and international regulatory environments where applicable to the accountability of this role (i.e. privacy, data protection, and environmental, health and safety).

Researches and deploys state-of-the-art technology solutions and innovative security management techniques to safeguard the organization’s personnel and assets, including intellectual property and trade secrets. Establishes appropriate standards and associated risk controls.

Develops relationships with high-level officials in law enforcement [and international counterparts] to include in-country security [and international security agencies], intelligence, and other relevant governmental functions as well as private sector counterparts [worldwide].

Through other internal policy committees, personnel and/or other external resources, coordinates and implements site security, operations, and activities to ensure protection of executives, managers, employees, customers, stakeholders, visitors, etc., as well as all physical and information assets, while ensuring optimal use of personnel and equipment.Digital or cyber security, sometimes referred to as IT security, does have a cooperative inter-connected involvement. Some organizations have combined various elements of security programs within the "chief information security officer" (CISO) function. IT security typically addresses security-related risk issues across all layers of an organization's technology stack. This may include:

Emerging Technologies and Market Trends

Identity and access management

Incident and crisis management

Information and privacy protection

Risk and compliance management

Security architecture

Organizational resiliency programs and assessments

Threat, intelligence and vulnerability management


Coinsurance in insurance, is the splitting or spreading of risk among multiple parties.


In economics, goods are materials that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying product. A common distinction is made between goods that are tangible property, and services, which are non-physical. A good may be a consumable item that is useful to people but scarce in relation to its demand, so that human effort is required to obtain it. In contrast, free goods, such as air, are naturally in abundant supply and need no conscious effort to obtain them. Personal goods are things such as televisions, living room furniture, wallets, cellular telephones, almost anything owned or used on a daily basis that is not food related. Commercial goods are construed as any tangible product that is manufactured and then made available for supply to be used in an industry of commerce. Commercial goods could be tractors, commercial vehicles, mobile structures, airplanes and even roofing materials. Commercial and personal goods as categories are very broad and cover almost everything a person sees from the time they wake up in their home, on their commute to work to their arrival at the workplace.

Commodities may be used as a synonym for economic goods but often refer to marketable raw materials and primary products.Although in economic theory all goods are considered tangible, in reality certain classes of goods, such as information, only take intangible forms. For example, among other goods an apple is a tangible object, while news belongs to an intangible class of goods and can be perceived only by means of an instrument such as print or television.

Hunter v Moss

Hunter v Moss [1994] 1 WLR 452 is an English trusts law case from the Court of Appeal concerning the certainty of subject matter necessary to form a trust. Moss promised Hunter 50 shares in his company as part of an employment contract, but failed to provide them. Hunter brought a claim against Moss for them, arguing that Moss's promise had created a trust over those 50 shares. The constitution of trusts normally requires that trust property be segregated from non-trust property for the trust to be valid, as in Re London Wine Co (Shippers) Ltd. On this occasion, however, both Colin Rimer in the High Court of Justice and Dillon, Mann and Hirst LJJ in the Court of Appeal felt that, because this case dealt with intangible rather than tangible property, this rule did not have to be applied. Because all the shares were identical, it did not matter that they were not segregated, and the trust was valid. The decision was applied in Re Harvard Securities, creating a rule that segregation is not always necessary when the trust concerns intangible, identical property.

The academic reaction to Hunter was mixed. While some called it "fair, sensible and workable", or noted that "Logically the decision in Hunter v Moss appears a sensible one", Alastair Hudson felt that "doctrinally, it is suggested that the decision in Hunter v Moss is wrong and should not be relied upon", because it contradicted existing property law and drew a distinction between tangible and intangible property he felt to be "spurious".

Intangible property

Intangible property, also known as incorporeal property, describes something which 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. It generally refers to statutory creations such as copyright, trademarks, or patents. It excludes tangible property like real property (land, buildings, and fixtures) and personal property (ships, automobiles, tools, etc.). In some jurisdictions intangible property are referred to as choses in action. Intangible property is used in distinction to tangible property. It is useful to note that there are two forms of intangible property: legal intangible property (which is discussed here) and competitive intangible property (which is the source from which legal intangible property is created but cannot be owned, extinguished, or transferred). Competitive intangible property disobeys the intellectual property test of voluntary extinguishment and therefore results in the sources that create intellectual property (knowledge in its source form, collaboration, process-engagement, etc.) escaping quantification.

Generally, ownership of intangible property gives the owner a set of legally enforceable rights over reproduction of personal property containing certain content. For example, a copyright owner can control the reproduction of the work forming the copyright. However, the intangible property forms a set of rights separate from the tangible property that carries the rights. For example, the owner of a copyright can control the printing of books containing the content, but the book itself is personal property which can be bought and sold without concern over the rights of the copyright holder.

In English law and other Commonwealth legal systems, intangible property is traditionally divided in pure intangibles (such as debts, intellectual property rights and goodwill) and documentary intangibles, which obtain their character through the medium of a document (such as a bill of lading, promissory note or bill of exchange). The recent rise of electronic documents has blurred the distinction between pure intangibles and documentary intangibles.


Jonjaamji is a Korean Buddhist site of a pagoda preserving the relics of Buddha. Jonjaamji is located in a valley on the southwest ridge of Bulrae Oreum at the Yeongsil Track region of Hallasan on Jeju Island, South Korea. On November 1, 2000, the Jeju Provincial Government designated Jonjaamji as Tangible Property Number 17.


KIHC (890 kHz) is a non-commercial AM radio station that is licensed to Arroyo Grande, California and broadcasts to the San Luis Obispo and Santa Maria, California areas. The station is owned by Immaculate Heart Radio and broadcasts the Roman Catholic Christian talk and teaching format of its nationally syndicated Relevant Radio network.

Kamakura Museum of Literature

The Kamakura Museum of Literature (鎌倉文学館, Kamakura Bungakukan) is a small museum in Kamakura, Kanagawa, Japan, that contains material about writers who have lived, died, or were active in the city of Kamakura itself. The museum displays personal effects, manuscripts, first editions, and documents owned by well over a hundred writers of Japanese literature, including Natsume Sōseki and Kawabata Yasunari, as well as film director Yasujirō Ozu. The villa that hosts the museum, its large garden and its rose garden are also of great interest.

The plaque in front of the villa says:

Kamakura Museum of Literature (a villa of the old, noble Maeda family)The house was erected in 1936 by Toshinari Maeda (前田利為), the 16th head of the Maeda family, (part of the Kaga clan). It stands half way up a hill in Kamakura, overlooking Sagami Bay. It represents the villa architecture of those days. Eisaku Sato, a former Prime Minister and Nobel Peace Prize winner, once made use of it as his villa. It also appeared in a scene from "Spring Snow", a novel by Yukio Mishima, a well-known novelist. It opened to the public as Kamakura Museum of Literature in November 1985. The Main Building of the Kamakura Museum of Literature was registered as a National Registered Tangible Property in April 2000.


A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial or business equipment is also leased.

Broadly put, a lease agreement is a contract between two parties, the lessor and the lessee. The lessor is the legal owner of the asset; the lessee obtains the right to use the asset in return for regular rental payments. The lessee also agrees to abide by various conditions regarding their use of the property or equipment. For example, a person leasing a car may agree that the car will only be used for personal use.

The narrower term rental agreement can be used to describe a lease in which the asset is tangible property. Language used is that the user rents the land or goods let out or rented out by the owner. The verb to lease is less precise because it can refer to either of these actions. Examples of a lease for intangible property are use of a computer program (similar to a license, but with different provisions), or use of a radio frequency (such as a contract with a cell-phone provider).

The term rental agreement is also sometimes used to describe a periodic lease agreement (most often a month-to-month lease) internationally and in some regions of the United States.

Lesser included offense

In criminal law, a lesser included offense is a crime for which all of the elements necessary to impose liability are also elements found in a more serious crime. It is also used in non-criminal violations of law, such as certain classes of traffic offenses.

For example, the common law crime of larceny requires the taking and carrying away of tangible property from another person, with the intent of permanently depriving the owner of that property. Robbery, under the common law, requires all of the same elements as well as the use of force or intimidation to accomplish the taking. Therefore, larceny is a lesser included offense in the offense of robbery, as every robbery includes a larcenous act as part of the crime. Assault is also a lesser included offense of robbery, just as false imprisonment is usually a lesser included offense of kidnapping. However, an offense will not be a lesser included offense if it carries a maximum penalty greater than that carried by the charged offense.

In the case of traffic offenses, serious misconduct while operating a motor vehicle can result in a charge of reckless driving, which could, in egregious cases, be punishable as a misdemeanor by imprisonment, a fine, or both. However, if the person charged proves to the court that the actions were not serious enough as to constitute recklessness, the offense may in some jurisdictions qualify as being the lesser-included offense of improper driving, which is not a criminal offense and is punishable by only a fine.


The Modified Accelerated Cost Recovery System (MACRS) is the current tax depreciation system in the United States. Under this system, the capitalized cost (basis) of tangible property is recovered over a specified life by annual deductions for depreciation. The lives are specified broadly in the Internal Revenue Code. The Internal Revenue Service (IRS) publishes detailed tables of lives by classes of assets. The deduction for depreciation is computed under one of two methods (declining balance switching to straight line or straight line) at the election of the taxpayer, with limitations. See IRS Publication 946 for a 120-page guide to MACRS.

Passive income

Passive income is income resulting from cash flow received on a regular basis, requiring minimal to no effort by the recipient to maintain it.

The U.S. Internal Revenue Service categorizes income into three broad types, active income, passive income, and portfolio income. It defines passive income as only coming from two sources: rental activity or "trade or business activities in which you do not materially participate." Other financial and government institutions also recognize it as an income obtained as a result of capital growth or in relation to negative gearing. Passive income is usually taxable.


Rent-to-own, also known as rental-purchase, is a type of legally documented transaction under which tangible property, such as furniture, consumer electronics, motor vehicles, home appliances, real property, and engagement rings, is leased in exchange for a weekly or monthly payment, with the option to purchase at some point during the agreement.

A rent-to-own transaction differs from a traditional lease, in that the lessee can purchase the leased item at any time during the agreement (in a traditional lease the lessee has no such right), and from a hire purchase/installment plan, in that the lessee can terminate the agreement by simply returning the property (in a hire purchase the buyer has a limited time, if any, to cancel the agreement).The usage of rent-to-own transactions began in the United Kingdom and Europe, and first appeared in the United States during the 1950s and 1960s. While rent-to-own terminology is most commonly associated with consumer goods transactions, the term is sometimes used in connection with real estate transactions. The newest law coming into effect known as "Physical control" is a progression towards owning something such as a parcel of land.


According to the philosopher Piyush Mathur (2017), "Tangibility is the property that a phenomenon exhibits if it has and/or transports mass and/or energy and/or momentum".

A commonplace understanding of "tangibility" renders it as an attribute allowing something to be perceptible to the senses.

In criminal law, one of the elements of an offense of larceny is that the stolen property must be tangible.

In the context of intellectual property, expression in tangible form is one of the requirements for copyright protection.

In the context of international tax law, article 5(1) of the OECD Model Tax Treaty requires to date a permanent establishment to consist of a tangible place of business. This is problematic concerning the taxation of the Digital Economy.

Use tax

A use tax is a type of tax levied in the United States by numerous state governments. It is essentially the same as a sales tax but is applied not where a product or service was sold but where a merchant bought a product or service and then converted it for its own use, without having paid tax when it was initially purchased. Use taxes are functionally equivalent to sales taxes. They are typically levied upon the use, storage, enjoyment, or other consumption in the state of tangible personal property that has not been subjected to a sales tax.

By owner
By nature
(key work)

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