Tangible Personal Property
Is a company: no
Is a proper noun: no
- solid assets
- verifiable personal property
- concrete equity
Definition of Tangible Personal Property
- Assets other than real estate that physically exist. Business equipment and vehicles are tangible personal property. Assets such as stock certificates and franchises only represent value and are therefore intangible property.
Related Terms and Acronyms
- Personal Property (PP) — Bank,
- Property that is movable and not permanently attached to a dwelling or structure.
- Franchise — Bank,
- The right to sell products or services under a corporate name or trade mark (established by someone else). This right is usually purchased for cash in addition to a royalty fee on, or a percentage of, all sales.
- Tangible Personal Property Memorandum (TPPM) — Acronym,
- Intangible Asset — Bank,
- Non-physical resources or rights to other assets. Patents, goodwill, permits and computer programs are examples of intangible assets.
- Intangible Property — Bank,
- Property that does not have value itself, but represents something else. Stocks, bonds and franchises are examples of intangible property. Business furniture and equipment are examples of tangible personal property.