Property Ownership Intellectual property Wills Bonus Questions
100
What is property?
Tangible and intangible things and their corresponding legal rights
100
What is accession?
Right of an owner of property to an increase in that property
100
What is intellectual property?
Purely intangible personal property that one cannot touch or move
100
What is an asset?
Property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies
100
What is a testament?
A person’s will, especially the part relating to personal property
200
What is real property?
Land, water, and minerals in the earth; airspace above the land; and things permanently attached to the land
200
What is co-ownership?
Ownership existing when two or more persons have the same ownership rights in the same property
200
What is copyright?
Protects the expression of a creative work, such as the work of an artist, author, or composer
200
What is liability?
The state of being responsible for something, especially by law
200
What is a Patent Troll?
Someone who gains patents for the sole purpose of suing people who infringe on their patents instead of making something
300
What is personal property?
Tangible, movable property and intangible property
300
What is right of partition?
Attribute of co-ownership which allows any co-owner to require the division, usually financial, of the property among the co-owners
300
What is infringement?
Unauthorized copying, sale, display, or performance of a copyrighted work
300
What is a legacy/bequest?
An amount of money or property that is left to someone in a will
300
What is community property?
Property owned equally by spouses
400
What is lost property?
Property that the owner unknowingly leaves somewhere or accidentally drops
400
What is severalty?
Ownership in which one person owns all of the personal or real property involved
400
What is fair use?
Limited use of copyrighted works by critics, researchers, news reporters, and educators
400
What is joint tenancy?
The holding of an estate or property jointly by two or more parties, the share of each passing to the other or others on death
400
What is a trade secret?
Unpatented formula or process not known to others and which is valuable in business
500
What is mislaid property?
Property that is intentionally placed somewhere but then forgotten
500
What is right of survivorship?
Right of one joint tenant to ownership of property when the other joint tenant dies
500
What is trademark?
A unique word, mark, symbol, or device that identifies a product of a particular manufacturer or merchant
500
What is residuary estate?
Assets in a deceased person’s estate after all gifts are bequeathed and debts, taxes, administrative costs, probate fees and court costs are paid
500
What is per capita?
The share of any beneficiary that precedes you in death is shared equally among the remaining beneficiaries






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