Legal Definitions - intangible trade property

Intangible trade property refers to the proprietaryinformation, ideas, goodwill, and other nonphysical commercial assets of an enterprise. It is also known as intangible asset or intangible trade value. Intellectual property is a type of intangible trade property.

For example, a company's brand name, logo, and reputation are all intangible trade properties. These assets are valuable to the company because they help to distinguish it from its competitors and attract customers. Another example is a patent, which is a legal protection for an invention or process that gives the owner exclusive rights to use and sell it.

The law of misappropriation provides some protection against the taking of intangible trade values to compete unfairly with their original owner. This means that if someone steals or copies a company's intangible trade property, the company can take legal action to protect its rights.