- Intangibles as goods — Industrial and IP rights and obligations of the seller — Interests and terminology and transfer of title
This chapter discusses the fundamentals of property law, particularly considering the nature of property interests, and the distinction between rights in rem and in personam, or between property interests and personal interests. The law of property is concerned not with things, but rather with interests (or rights) in things. Whereas the thing itself may be (but is not always) tangible, the interest in (or relating to) the thing is inevitably intangible or abstract. The distinction between property interests and personal interests may be expressed as the difference between owning something and being owed something. The chapter then considers the English law classification of things, and the place of choses in action within that classification; the characteristics of choses in action; and the extent to which ownership in choses of action or intangibles can be shared, divided, or otherwise fragmented.