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Anything that cannot be touched is considered intangible, so like electricity is intangible and does software is still intangible. To read further...
The trouble is personal property law - whether Roman law or common law - developed in an era when not only was software unknown or unimaginable, but when even intellectual property such as copyright was unknown. It is only in the last few centuries that the law has recognised that property can subsist in any intellectual assets at all (as distinguished from intangibles such as debts). This law has developed in a piecemeal way so that only some species of intellectual assets have the status of property. The law has yet to adequately catch up with other intangibles such as electricity and now software.
It is time to reform the law of personal property to accommodate computer software. The attempt to side step the personal property conundrum by categorising (at least some) software as a service has only led to legal confusion and undesirable international trade implications. The law now needs to recognise a tertium quid between things in possession and things in action.
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∙ 13y ago
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What is the difference between tangible assets and intangible assets?
We can feel tangible asset,where as we cannot feel intangible asset
What is the difference between a tangible and intangible asset?
Tangible Assets: These are those assets which have physical existence and which can be seen by naked eyes or has feeling. Intangible Assets: These are reverse from tangible assets as these have no physical existence and nobody can see them with eyes.
Does depreciation is charged on intangible assets?
Depreciation is charged to tangible assets while amortization is used to charge intangible assets.
Types of assets that are amortized?
Intangible assets are those assets which are amortized as compared to tangible assets which are depreciated.
Are Intangible assets reported in balance sheets?
Yes, All intangible as well as tangible assets are shown in balance sheet of business.
What is the difference between tangible assets and intangible assets?
We can feel tangible asset,where as we cannot feel intangible asset
Banks Tangible and intangible resources?
Tangible assets for a bank include all assets after making deductions for goodwill and intangible resources. Intangible assets have no physical properties.
What is Net tangible assets how it is calculated?
Net tangible assets are calculated as the total assets of a company minus any intangible assets. Intangible assets are goodwill, patents and trademarks.
What is the difference between a tangible and intangible asset?
Tangible Assets: These are those assets which have physical existence and which can be seen by naked eyes or has feeling. Intangible Assets: These are reverse from tangible assets as these have no physical existence and nobody can see them with eyes.
What are the tangible benefit and intangible benefit?
tangible assets is what can be seen while intangible asset is what cannot be seen or felt. The factory is an examle of intangible assets while patent is an example of intangible assets -- By Kailash Gaikwad
Is hardware tangible and software intangible?
Yes. Hardware can be touched and software cannot.
Does depreciation is charged on intangible assets?
Depreciation is charged to tangible assets while amortization is used to charge intangible assets.
What is Adjusted Tangible Net worth?
totalasset less intangible assets and total outside liabilities ; also called net tangible assets. Intangible assets include nonmaterial benefits such as goodwill, patents, copyrights, and trademarks. total asset less intangible assets and total outside liabilities ; also called net tangible assets. Intangible assets include nonmaterial benefits such as goodwill, patents, copyrights, and trademarks.
Types of assets that are amortized?
Intangible assets are those assets which are amortized as compared to tangible assets which are depreciated.
Are Intangible assets reported in balance sheets?
Yes, All intangible as well as tangible assets are shown in balance sheet of business.
What are Examples of financial assets that are traded?
Financial assets are tangible and intangible assets. while tangible assets are include both fixed assets, such as machinery, buildings and land, and current assets, such as inventory. ... Nonphysical assets, such as patents, trademarks, copyrights, goodwill and brand recognition, are all examples of intangible assets.
Is capital leases an intangible asset?
No, Capital lease is for tangible assets only so it is tangible assets. Capital lease is to acquire any assets for use in business so that asset is a visible thing so not intangible asset.
