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23 Cards in this Set
- Front
- Back
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Property
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rights and interests in tangible and intangible things.
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Real property
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rights and interests in land, buildings and those things permanently affixed to them.
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Personal property
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rights or interests in anything that is not real property. Can be tangible or intangible.
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Intellectual property
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intangible property created by the intellect and includes copyrights, service marks, trademarks, patents, trade secrets etc.
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Infringment
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unauthorizied copying, sale, display, or performance of copyrighted work.
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Fair use
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a doctrine that lessens the consequences of infringement.
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Trademark
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a word, mark, symbol, or device that distinguishes a product.
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Service mark
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unique word, mark, symbol that identifies a services as a posed to a product.
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Patent
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the grant of the exclusive right to make, use, import, sell, and offer a novel or new, non- obvious useful product or process.
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Trade secret
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a commercially valuable information that the owner attempts to keep.
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Constructive Delivery
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A symbol of the subject matter can be a substitute in the delivery, such as the keys to a car or a deed to a home.
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Accession
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The right of an owner of property to all that property produces, naturally, artificially etc.
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Lost property
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When the owner does not know when or where a piece of property disappeared from their possession.
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Mislaid Property
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When property is placed intentionally somewhere but then forgotten.
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Occupancy
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The acquiring the title by taking possession of personal property that belongs to no one else.
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Severalty
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When one person owns all of the personal or real property involved. Most common form of ownership for personal property.
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Co-ownership
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When two or more persons have ownership rights of the same property.
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Right of partition
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Allows any co-owner to legally compel the division of the property among the co-owners.
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Joint Tenancy
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The co-ownership of the same property with the right of survivorship.
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Right of survivorship
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If one of the joint owners dies than the remaining owner or owners still retain their ownership right to the whole property.
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Tenancy in common
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form of co-ownership by which the shares may be unequal and there is no right of survivorship.
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Tenancy by the entireties
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usual form of co-ownership between husband and wife, carrying equal interest and right of survivorship.
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Community property
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Property owned equally by spouses.
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