There are several types of real, personal, and intellectual properties. Under personal property, tangible, listed, and intangible assets are featured. Whereas personal tangible property encompasses all physical assets such as land and machinery, intangible assets majorly comprise bonds and marketable securities in the financial and money markets.
Bonds and debentures are classified under listed property and are sold by owners through stock exchange markets. Concurrently, intellectual properties have features almost similar to intangible assets. They include patents, copyrights, goodwill, trademarks, and industrial designs.
Goodwill can be defined as the value of identifiable net tangible and intangible assets accumulated by an enterprise over time. On the contrary, patents and copyright represent permissions that identify firms or individuals as sole owners of a given property for a specific period. Such monopolistic ownerships are usually granted by the government. It is important to note that real property lacks geographical mobility and includes assets such as land and the firm’s premises.