Tangible Property

Significant properties involved in the Walt Disney Corporation merger with Marvel Comics, Inc.
They types of business property that Disney and Marvel deem significant are very similar. Disney and Marvel exist mainly as a character-based entertainment and licensing businesses. Both companies rely a great deal on merchandising and licensing opportunities that are a result of their intellectual properties, the majority being characters (Deraiche, 2009). Intellectual property is classified as an intangible asset. An intangible asset is non-physical and provides for the promise of particular rights and privileges and potential economic profit for the owner (Vickery). Intellectual property can even be protected as a basic human right. “According to Article 27 of the Universal Declaration of Human Rights (1948), “Everyone has the right to the protection of the moral and material interest resulting from any scientific, literary or artistic production of which he is the author” (Averill, 2005, p. 1032). The Disney Company is a unique entertainment entity as it possesses many tangible assets which are a direct result of their intellectual property. For example they own motion picture studios that produce movies, theme parks, and a publication company that operate and create works based upon their intellectual properties.
      As Disney has merged with Marvel, they have inherited the following intellectual properties: numerous trademarks, copyrights, franchise agreements, license agreements, brand names and logos. Disney now possesses over 5,000 of Marvel’s trademarked character identities alone (Goldman, 2009). These trademarked Marvel comic book characters can be considered distinctive because they have acquired their distinctiveness through a secondary meaning (Ferrera, Lichtenstein, Reder, Bird & Schiano, 2004). For example, when a person hears the name of “Spider Man” or “The Hulk” it is assumed they will associate the names to comic book characters because they have...