Management and Organizational Studies 2275A/B Study Guide - Final Guide: Canadian Intellectual Property Office, Land Registration, Professional Liability Insurance

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Desmond Mc Keon

Document Summary

Real property: land and what is attached to it, as well as any legal rights involved. Personal property: all property other than land and what is attached. Personal property whose value comes from legal rights. Ownership of property is acquired in a variety of ways. Ownership of goods through purchase or manufacturing. Insurance is purchased through premiums and is described in the policy which gives the customer the right to recover for losses. Accounts receivable are created by delivering goods to customers who agree to pay at a later date. Intellectual property are owned by creation, registration or use. Personal property is not registered as real property is. However, in the case of crediting or loans, chattels may be used as collateral or securities to protect the creditor"s interest. Possession of the property of another with the intent of returning it. Often in the form of lease agreements.