Legal Definitions - valuable

The term valuable refers to anything that possesses monetary worth or can be exchanged for money, goods, or services. In a legal context, it signifies an asset, property, or right that has a quantifiable financial worth in the market or to an individual, and can often be a subject of contracts, sales, or damages.

• Example 1: A collector owns a first edition comic book that is professionally graded and authenticated. An appraiser determines its market price to be $50,000 due to its rarity and condition.

  Explanation: The comic book is considered valuable because it has a clear, quantifiable financial worth that can be realized through sale in the market. Its value is not merely sentimental but represents a significant monetary asset.

• Example 2: A software company holds the copyright to a popular operating system used by millions worldwide. This copyright prevents others from copying or distributing the software without permission, allowing the company to sell licenses for substantial revenue.

  Explanation: The copyright is a valuable intangible asset. Although not a physical object, it grants exclusive rights that generate significant income for the company, demonstrating its substantial financial worth and market value.

• Example 3: During a divorce proceeding, a couple must divide their assets, which include a portfolio of publicly traded stocks and bonds worth several hundred thousand dollars.

  Explanation: The stocks and bonds are considered valuable because they represent ownership in companies and government debt that can be readily converted into cash at their current market price. Their financial worth is a key factor in the equitable distribution of marital property.