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Misappropriation Doctrine
The misappropriation doctrine is a U.S. legal theory conferring a "quasi-property right" on a person who invests "labor, skill, and money" to create an intangible asset. The right operates against another person (usually a competitor of the first person) "endeavoring to reap where it has not sown" by "misappropriating" the value of the asset (ordinarily by copying what the first person has created). The quoted language and the legal principle come from the decision of the United States Supreme Court in ''International News Service v. Associated Press'', 248 U.S. 215 (1918), also known as ''INS v. AP'' or simply the ''INS'' case. The misappropriation doctrine originated as federal common law but since 1938 it has been based on state law. The current viability of the misappropriation doctrine is uncertain because of subsequent developments in U.S. patent and copyright law that "preempt" state law that operates in the same field of law, as is explained in the article on ''INS v. AP''. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Intangible Asset
An intangible asset is an asset that lacks physical substance. Examples are patents, copyright, exclusive franchises, Goodwill (accounting), goodwill, trademarks, and trade names, reputation, Research and development, R&D, Procedural knowledge, know-how, organizational capital as well as any form of digital asset such as software and data. This is in contrast to physical assets (machinery, buildings, etc.) and financial assets (government securities, etc.). Intangible assets are usually very difficult to Valuation (finance), value. Today, a large part of the corporate economy (in terms of net present value) consists of intangible assets, reflecting the growth of information technology (IT) and organizational capital. Specifically, each dollar of IT has been found to be associated with and increase in firm market valuation of over $10, compared with an increase of just over $1 per dollar of investment in other tangible assets. Furthermore, firms that both make organizational capit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |