Solicitors & Lawyers
Legal Phrases
Term: asset
1.
Assets may be real property (land), or personal assets. Personal assets may be choses in possession or choses in action. Patent rights, copyrights, design rights are assets as they are personal proeprty, and accrued rights in goodwill are psuedo-assets as they are protectable by their owner.
Usage: The company granted a charge over the assets.
Related Words: chose in possession; chose in action; incorporeal property; chattels; real property; property; incorporeal property; corporeal property; corporeal hereditaments; incorporeal hereditaments; company.
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