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Part V The Effects of Assignment, The Persistence of Property Rights, and The Vindication of An Owner’s Rights, 28 Extinction of Intangible Property

From: The Law of Assignment (3rd Edition)

Marcus Smith, Nico Leslie

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2021. All Rights Reserved.date: 31 July 2021

Intangibles as goods

This chapter focuses on the extinction of intangible property. The transfer of an intangible does not involve the extinction of that intangible. It does, or should, entail the extinction of the assignor's interest in the intangible. The chapter looks at those circumstances in which an intangible is extinguished or lost against all the world: in other words, those cases where the intangible ceases to exist. In such a case, it is self-evident that rights in the thing must also cease: rights cannot exist in vacuo. Intangible property is, obviously, very different from tangible property, and the manner in which it can be extinguished differs in fundamental respects. Intangible property can be extinguished in one of three ways: through destruction, abandonment, or combination.

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