Property is anything where a court will enforce exclusive rights to the use, possession or title to the thing. It falls into three general types:
- Real property - land and things and rights related to land;
- Personal property - tangible objects that can or will be moved in the normal course of their use such as personal possessions, automobiles, ships, aircraft and furniture; and
- Intangible property or intellectual property, which covers non-tangible rights to the use or reproduction of things such as books, movies, music and inventions. This includes copyright, trade marks and patents.
Property need not have value, nor does it have to be transferrable.
- People are not property (although they once could be) because a court will not enforce rights to possess or use a person. However, livestock is property.
- Licenses may be property if they are transferrable. For example, a taxi license can be treated as property, but a driving license cannot be.