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Kimball Laundry Co. V. United States
''Kimball Laundry Co. v. United States'', 338 U.S. 1 (1949), affirmed the principle set forth in ''The West River Bridge Company v. Dix et al.'', ; that is, that intangible property rights are condemnable via the eminent domain power, and that just compensation must be given to the owners of such rights. In this case, the United States filed a petition in the United States District Court for the District of Nebraska to condemn the plant of the Kimball Laundry Company in Omaha, Nebraska, for use by the Army. After the District Court granted the United States immediate possession of the facilities of the company for the requested period, the owner of the family business claimed that he had been denied just compensation, and contended that the award should have included some allowance for diminution in the value of the business due to the destruction of its customer base. Supreme Court Decision This litigation began after the United States took over a laundry's facilities to do wash ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intangible Property
Intangible property, also known as incorporeal property, is something that a person or corporation can have ownership of and can transfer ownership to another person or corporation, but has no physical substance, for example brand identity or knowledge/intellectual property. It generally refers to statutory creations, such as copyright, trademarks, or patents. It excludes tangible property like real property (land, buildings, and fixtures) and personal property (ships, automobiles, tools, etc.). In some jurisdictions, intangible property are referred to as ''choses in action''. Intangible property is used in distinction to tangible property. It is useful to note that there are two forms of intangible property: legal intangible property (which is discussed here) and competitive intangible property (which is the source from which legal intangible property is created but cannot be owned, extinguished, or transferred). Competitive intangible property disobeys the intellect ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |