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The most valuable firms, spanning high-tech, pharmaceutical, automotive and financial services industries, derive their competitiveness and market value from intangible rather than physical, that is to say, "tangible" capital. Among companies in the S&P 500, intangibles including intellectual property account for 90% of the total market value.
Industrial property is not rigidly defined; [11] it is a portion of the superordinate concept of intellectual property (intangible property) that excludes copyright. The purpose of industrial property law is to regulate the rights to certain inventions and industrial or commercial creations.
The term "intellectual property" began to be used in the 19th century, though it was not until the late 20th century that intellectual property became commonplace in most of the world's legal systems. [6] Supporters of intellectual property laws often describe their main purpose as encouraging the creation of a wide variety of intellectual ...
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.
Intangible assets are non-physical resources and rights that have a value to the firm because they give the firm an advantage in the marketplace. Intangible assets include goodwill, intellectual property (such as copyrights, trademarks, patents, computer programs), [4] and financial assets, including financial investments, bonds, and companies ...
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).
Intellectual capital is the result of mental processes that form a set of intangible objects that can be used in economic activity and bring income to its owner (organization), covering the competencies of its people (human capital), the value relating to its relationships (relational capital), and everything that is left when the employees go home (structural capital), [1] of which ...
Intellectual property refers to intangible assets such as musical, literary, and artistic works; discoveries and inventions; and words, phrases, symbols, and designs. Common types of intellectual property rights include copyrights, trademarks, patents, industrial design rights, trade dress, and in some jurisdictions, trade secrets.
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