Law for Business and Personal Use © Thomson South-Western CHAPTER 15 Property and Its Acquisition 15-1Types of Property 15-2How Property Is Acquired and.

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Presentation transcript:

Law for Business and Personal Use © Thomson South-Western CHAPTER 15 Property and Its Acquisition 15-1Types of Property 15-2How Property Is Acquired and Held

Law for Business and Personal Use © Thomson South-Western Chapter 15 Slide Types of Property GOALS Define property Identify the classifications of property

Law for Business and Personal Use © Thomson South-Western Chapter 15 Slide 3 FOCUS What is your definition of property?

Law for Business and Personal Use © Thomson South-Western Chapter 15 Slide 4 PROPERTY AND ITS CLASSIFICATION What is property? Classifications of property Real property Personal property Copyrights Trademarks and service marks Patents Trade secrets

Law for Business and Personal Use © Thomson South-Western Chapter 15 Slide 5 FEATURES OF INTELLECTUAL PROPERTY

Law for Business and Personal Use © Thomson South-Western Chapter 15 Slide 6 What are the two main classifications of property?

Law for Business and Personal Use © Thomson South-Western Chapter 15 Slide How Property Is Acquired and Held GOALS State the different ways of acquiring property Differentiate the various ways of holding ownership to property

Law for Business and Personal Use © Thomson South-Western Chapter 15 Slide 8 FOCUS How have you acquired property?

Law for Business and Personal Use © Thomson South-Western Chapter 15 Slide 9 WAYS OF ACQUIRING PROPERTY By contract By gift By intellectual labor By inheritance By accession By finding By occupancy

Law for Business and Personal Use © Thomson South-Western Chapter 15 Slide 10 Name the three most common means of acquiring property.

Law for Business and Personal Use © Thomson South-Western Chapter 15 Slide 11 HOW IS OWNERSHIP OF PROPERTY HELD? Ownership in severalty Co-ownership Joint tenancy Tenancy in common Tenancy by the entireties Community property Limitations on ownership

Law for Business and Personal Use © Thomson South-Western Chapter 15 Slide 12 TYPES OF CO-OWNERSHIP

Law for Business and Personal Use © Thomson South-Western Chapter 15 Slide 13 What are the two basic ways to hold property?

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