lilypadfrog
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Simple English definitions for legal terms
incorporeal chattel
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A quick definition of incorporeal chattel:
An incorporeal chattel is a type of property that doesn't have a physical form, like a piece of land or a car. It's a legal right that someone has to use or own something, like a patent or copyright. Property can also refer to things that people own, like a house or a bike. There are different types of property, like abandoned property that someone gives up, or income property that makes money.
A more thorough explanation:
Definition: Incorporeal chattel refers to a type of property that is intangible and cannot be physically touched or seen. It is a type of incorporeal property, which is a proprietary right that is not classified as corporeal property.
Examples: Examples of incorporeal chattel include patents, copyrights, trademarks, and other intellectual property rights. These types of property are valuable assets that can be bought, sold, and licensed, but they do not have a physical existence. For instance, a patent for a new invention is an incorporeal chattel because it is a proprietary right that gives the owner the exclusive right to make, use, and sell the invention, but it is not a physical object that can be touched or seen.
Explanation: The examples illustrate the definition of incorporeal chattel by showing that it is a type of property that is intangible and cannot be physically touched or seen. These types of property are valuable assets that can be bought, sold, and licensed, but they do not have a physical existence.