Which term describes property rights such as patents that are non-physical but valuable?

• A. Real Property
• B. Tangible
• C. Personal Property
• D. Intangible

Answer: (D)

Non-physical yet valuable property rights, like patents, are described as intangible because they exist as legal rights rather than as physical objects. Patents grant exclusive control over an invention and its use, but they have no tangible form. Real property refers to land and buildings and is physical; tangible means something you can touch. While personal property typically covers movable physical items, it doesn’t precisely capture the idea of an underlying legal right itself. Intangible best describes these non-physical rights, including patents, copyrights, and trademarks, and is the term that reflects their value without a physical form.