Bus Law

Tangible property is property that can be seen and touched i.e., has a physical presence. Some typical examples of tangible property include buildings, furnishing, land, vehicles, computers and anything else of value to a company that have a physical presence. The industry our team chose was the pharmaceutical industry and many of the tangible assets they need to protect are buildings, land, cash, warehouses, research and development laboratories, as well as expensive lab equipment, materials and very importantly, the actual product itself.

Ways to protect tangible property is to ensure you have adequate property protection insurance so that accidental damage to property arising out of ownership, operational activities or maintenance is paid out by the insurance company. In the pharmaceutical industry, the product and equipment used to perform research and development is extraordinarily expensive so the insurance protection to cover it should include replacement costs if damage is irreparable.

Additionally managers should protect their offices and laboratories by employing security guards in their buildings so that break-ins and theft is deterred. One of the most expensive assets a pharmaceutical company can have in the buildings is the actual product itself and that has to be protected physically. If the product is not protected, the company expose themselves to huge risk of product loss as well as copyright loss. If stolen, the chemical makeup of the product could be uncovered.

    Outline on Information Technology Tangible & Intellectual Property issues
          The purpose of this outline is to identify and recognize the Tangible and Intellectual property rights significant to the Information Technology sector. The research should identify what the managers in that industry can do to protect the property rights of the organization, and what the managers in that industry should do to assure that the organization protects the intellectual property...