1. Intangible property cannot be the subject of a claim for conversion.2. Gift tax applies to all irrevocable transfers of interests in tangible or intangible property . 3. Similarly, the concept of property expanded from protecting only tangible property to intangible property . 4. In some jurisdictions intangible property are referred to as " choses in action ". 5. Utah does not charge intangible property taxes and does not impose an inheritance tax. 6. After the Civil War, intangible property , including corporate stock, took on far greater importance. 7. Wisconsin does not assess a tax on intangible property . 8. Intangible property is used in distinction to tangible property.9. Governments can even acquire intangible property such as contract rights, patents, trade secrets, and copyrights. 10. As such, it is a form of intangible property , akin to copyright or patent, that is descendable.
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