Nature and Characteristics of Intangibles

Abstract This chapter explores the nature and characteristics of intangible property, specifically focusing on choses in action. It discusses property interests, distinguishing between rights in rem (enforceable against the world) and rights in personam (enforceable against specific individuals), and their relevance to the classification of intangibles in English law. The chapter examines how intangible property is conceptualized, expanding from rights of action to include contracts, debts, and intellectual property. Additionally, it highlights the distinction between legal and equitable choses in action, which have different implications for transferability and enforcement. Finally, the chapter addresses the complexities of classifying intangible assets and their implications for legal treatment, particularly how intangible rights evolve in response to societal changes and legal developments.