Define: Incorporeal Ownership

Incorporeal ownership refers to the legal right to own intangible assets or rights, such as intellectual property, patents, copyrights, trademarks, and licenses.

Incorporeal ownership pertains to intangible assets, while corporeal ownership relates to tangible assets like land, buildings, or physical objects.

Examples of incorporeal ownership include owning a trademark for a brand name, holding a patent for an invention, or having the copyright to a book or song.

To protect your incorporeal ownership rights, you can register your intellectual property with the appropriate government agencies, such as the United States Patent and Trademark Office or the Copyright Office.

Yes, incorporeal ownership rights can be transferred or sold through various legal mechanisms, such as licensing agreements, assignments, or outright sales.

If someone infringes upon your incorporeal ownership rights, you can take legal action against them, seeking remedies such as injunctions, damages, or royalties.

The duration of incorporeal ownership rights varies depending on the type of asset. For example, copyrights generally last for the life of the author plus 70 years, while patents typically have a duration of 20 years from the filing date.

Yes, incorporeal ownership rights can be inherited and passed down to heirs, just like other forms of property.

Yes, incorporeal ownership rights can be used as collateral for loans, allowing individuals or businesses to secure financing based on the value of their intangible assets.

If you suspect someone is infringing upon your incorporeal ownership rights, it is advisable to consult with an intellectual property attorney who can guide you through the process of enforcing your rights and potentially pursuing legal action.