Property classifications
Property can be classified as either real or __________.
What is Personal
Trade secrets are
What is important ideas or knowledge that cannot be protected by copyright or patent.
Any kind of property may be acquired and transferred by ______________.
What is contract
Almost any property can be acquired by way of
contract/purchase
Anything that is not real property
What is personal property
A fixed, original expression of a creative work can be protected by a _______________.
What is Copyright
Name a type of intellectual property?
What is patent trademark copyright
The promise to give a gift does not create a ___________
What is legal obligation
A form of ownership that requires intent, delivery, and acceptance
What is a gift
Two or more people that have the right to the same property.
What is co-ownership
A unique word, mark, or symbol identifying products is called a _________________
What is Trademark
When Ed opens his own carpet-cleaning business, he creates a unique symbol that distinguishes his company from other carpet-cleaning companies. This unique symbol is known as a(n)
What is service mark.
Personal and real property can be acquired by the death or a loved one by way of
What is inheritance
Creator must take legal steps to protect their property i.e. patents, copyrights, trademarks
What is intellectual property
The holding of an estate or property jointly by two or more parties
What is joint tenancy
Ownership of natural or man-made increases to personal property is acquired by
What is accession
Copyrights owned by the creator last only for how long?
What is lifetime + 70 years
When a finder of property knows the owner they must return the property or be guilty of
What is theft
While eating at your favorite restaurant, your napkin slips from your lap. You bend down to retrieve it and find a diamond necklace on the floor under the edge of your booth. The necklace is now what type of property and who gets the use of it?
What is Lost Property, the finder until proven to be the owners.
Ownership rights are not absolute. Individuals cannot use their property in a unreasonable or unlawful manor
What is limitations on ownership
Land, buildings, tree, shrubs and anything permanently affixed to the ground
What is real property.
Jaime's dog had puppies he has acquired property by way of
What is accession.
Intangible property created by intellect
What is intellectual property.
The person that receives a donation
What is the donee